Smart Light Control Market Set to grow USD 108.22 Billion by 2032 at 22.4% CAGR | Research by SNS Insider

The Smart Light Control market growth, driven by innovations in lighting technologies, energy efficiency, and automation across various sectors.

AUSTIN, TX, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Smart Light Control Market was valued at USD 17.55 billion in 2023 and is projected to reach USD 108.22 billion by 2032, growing at a CAGR of 22.4% from 2024 to 2032.”

The smart lighting control market is experiencing rapid growth, driven by a rising need for energy-saving lighting options and the development of smart home and smart city initiatives. Intelligent lighting controls enable users to oversee and modify lighting systems from a distance, improving both energy efficiency and user convenience. With urbanization increasing the need for smart infrastructure, such systems are being incorporated into residential, commercial, and industrial areas. Utilizing cutting-edge technologies such as IoT and AI, intelligent lighting control systems aim to enhance energy efficiency, reduce ecological effects, and elevate lighting performance, rendering them essential in contemporary applications. Through advancements like sensor-operated controls, intelligent dimmers, and wireless connections, the market remains responsive to the demand for adaptable, automated lighting options. The growth path of the market shows extensive adoption throughout various sectors, including smart cities, residential areas, and industrial uses. Governments across the globe are encouraging energy-saving technologies, thereby boosting this expansion. This supportive regulatory environment, combined with a growing emphasis on cutting carbon emissions, drives the rise in adoption. Moreover, improvements in LED technology and the increasing demand for sustainable options highlight the market's bright prospects.

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SWOT Analysis of Key Players as follows:
- General Electric Company (U.S.)
- Signify Holding (Philips Lightings) (Netherlands)
- Cisco Systems Inc. (U.S.)
- Schneider Electric (France)
- Toshiba (Japan)
- Legrand S.A. (France)
- Lutron Electronics Co. Inc. (U.S.)
- Eaton Corporation PL (Ireland)
- Honeywell International Inc (U.S.)
- OSRAM Licht AG (Germany)

Segment Analysis

By Offering: In 2023, hardware dominated the smart light control market, accounting for a 65% market share. Hardware components such as sensors, dimmers, and controllers are critical in smart light control systems, providing the infrastructure for connectivity, automation, and remote management. Continuous advancements in sensor technology and the rising integration of hardware with IoT and AI-based applications have led to high demand for these components.

By Communication Technology: Wired communication held a 60% market share in 2023, outpacing wireless options. Wired technology is preferred for its stable connections and security, making it ideal for larger, more permanent installations such as office buildings, industrial plants, and public spaces.

By End Use Application: Indoor applications led with a 62% market share in 2023, as smart lighting is most commonly deployed in residential and commercial buildings. These systems optimize indoor environments by adapting to user preferences and occupancy, driving energy savings.

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KEY MARKET SEGMENTS:

By Offering
Hardware
Software
Services

By Installation Type
New Installations
Retrofit Installations

By Communication Technology
Wired
Wireless

By End Use Application
Indoor
Outdoor

Regional Analysis

Europe dominated the Smart Light Control Market in 2022, with a 37.0% revenue share. The region's leadership in setting regulatory standards for indoor commercial lighting, such as those for garages, roadways, and parking areas, supports its strong market position. European countries are increasingly adopting LED luminaires and smart lamps, encouraged by advancements in LED technology and design.

Asia Pacific is projected to be the fastest-growing region, with a CAGR of 24.0% during the forecast period. This growth is driven by significant demand from commercial and residential sectors, with China leading the region in revenue. Countries such as Japan, India, and South Korea are rapidly adopting smart lighting solutions, spurred by urbanization and smart city initiatives.

Recent Developments:

-March 2023 - Itron, Inc. entered into a contract with Duquesne Light Company (DLC) to enhance operational efficiency, modernize infrastructure, and facilitate smart city solutions. Itron intends to provide DLC with its intelligent street lighting system, featuring LED lights, sensors, and software for dimming, data collection, and traffic management.
-September 2024 - The Sense Plus Switch, initially revealed in 2020 and later in 2023, has been eagerly awaited by enthusiasts of the brand's RGB lighting series. Being a wireless switch, it isn't connected to a lighting circuit via wires.

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Future Trends:

The Smart Light Control Market is poised to benefit from trends in IoT and AI integration, which will improve automation and energy efficiency. The rise in connected devices across homes and businesses will drive demand for systems that can integrate seamlessly with existing IoT networks. Additionally, as energy efficiency becomes a priority in new construction and urban development, smart lighting is expected to play a critical role in sustainable building practices.

Key Points From TABLE OF CONTENT

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Smart Light Control Market Segmentation, by Offering

Chapter 8. Smart Light Control Market Segmentation, by Installation Type

Chapter 9. Smart Light Control Market Segmentation, by Communication Technology

Chapter 10. Smart Light Control Market Segmentation, by End Use Application

Chapter 11. Regional Analysis

Chapter 12. Company Profiles

Chapter 13. Use Cases and Best Practices

Chapter 14. Conclusion

Continued…

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Akash Anand
SNS Insider Pvt. Ltd
415-230-0044
info@snsinsider.com
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