According to the latest report published by Variant Market Research, the global smart light fixture and control market is projected to reach $126.6 billion by 2024, from $31.7 billion in 2016; at a CAGR of 18.9% from 2016 to 2024.
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Easy installation and control to drive the global smart light fixture and control market
The global smart light fixture and control market is driven by factors such as easy installation and control, increasing demand in residential and commercial spaces, and low price of sensors. Huge installation cost may hamper the market growth. Furthermore, growing government initiatives regarding low energy consumption worldwide would provide an opportunity for market players of smart light fixture and control market.
Market Segmentations
The global smart light fixture and control market is classified into lighting type, technology, application, and geography. Lighting type segment includes LED, CFL, HID lamps, plasma lamps, and fluorescent lights. Fixture, and control are covered under the technology sub segment. Application includes residential, commercial, and other applications. North America (U.S., Mexico, and Canada), Europe (France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, South Korea, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global smart light fixture controls market.
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LED, by lighting type, is estimated to dominated the global market in 2016
LED held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to its several properties like energy efficient, environment friendly, long lifetime, and controllable.
Fixture, by technology, is estimated to dominated the global market in 2016
Fixture held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to their widespread usage in commercial and residential areas.
Commercial, by application, is estimated to dominated the global market in 2016
Commercial held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to wide usage of lights in offices because of 24/7 working shifts coupled with utility of lighting control systems which uses factors such as occupancy, available daylight, and lights turning on or off according to time.
Asia-Pacific is estimated to dominated the global market in 2016
Asia-Pacific held the maximum market share of the global market in 2016, and is predicted to continue the trend over the forecast period 2016 to 2024, due to the rapid infrastructural expansion in this region.
Competitive Landscape
The key market players of the market are Acuity Brands Lighting, Inc., General Electric Company, OSRAM Licht AG, Honeywell International, Philips Lighting, Digital Lumens, Inc., Cooper Industries, Inc., StreetLight Vision, Schneider Electric SE, and Legrand S.A., among others.
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Scope of the Global Smart Light Fixture and Control Market
Lighting Type Segments
• CFL
• LED
• Fluorescent Lights
• Plasma Lamps
• HID Lamps
Technology Segments
• Fixture
• Control
Application Segments
• Commercial
• Residential
• Other Applications
Geographical Segments
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o India
o China
o Japan
o South Korea
o Rest of Asia-Pacific
• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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