New York, NY, September 11, 2019- Goldstein Research, a leading market intelligence & consulting firm, in its latest study titled “Global Smart Lighting Market Outlook, 2024” predicts accelerated growth for smart lighting market with CAGR of 4.6 % through 2024. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.
According to the study, growing energy saving concerns and emerging advanced technologies such as internet of things (IoT) and connected devices coupled with accelerating LED price erosion are the major factors driving the growth of smart lighting market. By 2020, there could be more than 50 billion devices and 7 billion people connected. This has tremendous implications for cities and businesses, over the next few years millions of lights will be converted to LED technology. Moreover, streetlights also constitute major share in the global smart lighting market.
Analysts at Goldstein Research also reveal that based on geography, Asia Pacific region accounted for the largest share in smart lighting industry in 2016. Furthermore, China is expected to dominate the smart lighting market through 2024 followed by Japan and South Korea due to high LED production and rapid smart lighting penetration in these countries. Asia Pacific region is closely followed by the Europe with estimated market share at around 28% in 2016. This share is anticipated to rise over 30% by 2024.
Study is available @ https://bit.ly/2i7ynYC
Market Segmentation
Global smart lighting market has been segmented as follows:
• By Product Type
o Smart Bulbs
o Fixtures
o Control Systems
 Drivers and Ballasts
 Switches and Dimmers Actuators
 Sensors
 Microcontrollers
 Transmitters and Receivers
• By Light Source Type
o Light Emitting Diode (LED)
o Fluorescent Light
o High Intensity Discharge Lamps
• By Applications
o Commercial
o Industrial
o Residential
o Architectural Lighting
o Others
• Based on Geography
o North America (U.S. & Canada) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}
o Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}
o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}
o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}
o Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Smart Lighting Market {Market Share (%), Market Size(USD Billion)}
“Global Smart Lighting Market Outlook 2024” by Goldstein Research contains detailed overview of the global smart lighting market. Further, for the in-depth analysis, it encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Philips Lighting, Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital Lumens, SemiLEDs Corporation etc.The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global smart lighting market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Further information on “Global Smart Lighting Market Outlook, 2024” is available @ https://bit.ly/2i7ynYC
About Goldstein Research
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts are working on Hardware and ICT reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.