Smart Lighting Market Size, Share, and Growth Analysis

Global Smart Lighting Market

Smart Lighting Market By Component (Hardware, Software, Services), By Connectivity (Wired, Wireless), By Application (Indoor, Outdoor), By Region -Industry Forecast 2025-2032


Report ID: SQMIG45K2060 | Region: Global | Published Date: June, 2025
Pages: 195 |Tables: 88 |Figures: 71

Format - word format excel data power point presentation

Smart Lighting Market Insights

Global Smart Lighting Market size was valued at USD 18.08 Billion in 2023 and is poised to grow from USD 21.71 Billion in 2024 to USD 93.97 Billion by 2032, growing at a CAGR of 20.1% during the forecast period (2025-2032).

The smart lighting industry is undergoing a radical transformation due to the combination of energy efficiency regulations and Internet of Things lighting technology. The urgent need for intelligent lighting solutions is highlighted by the International Energy Agency's estimate that buildings and construction together account for about 30% of global energy consumption. According to the United Nations Environment Programme Copenhagen Climate Centre, smart street lighting alone is responsible for 15% of the world's power consumption, underscoring the enormous impact potential of intelligent lighting technologies. This shift is accelerated further by the increasing integration of connected lighting with building management systems, which enables comprehensive energy monitoring and optimization.

Moreover, the global smart lighting market growth is driven by significant technological advancements due to the introduction of sophisticated control systems and connectivity features.

  • The Matter protocol is supported by the Luna lamp and LIFX's Smart Oval SuperColor Ceiling Light, which were introduced at CES 2025 and enable seamless brand interoperability. With features like four local buttons, 26 to 120 independently controllable color zones, and customizable routines (like sunrise alarms), these products demonstrate sophisticated control and strong device compatibility.

Can AI Make Smart Lighting Truly Intelligent and Energy-Efficient?

AI is improving the adaptability, energy efficiency, and usability of smart lighting systems. AI-powered systems use sensors and data analytics to automatically adjust the lights according to user preferences, daylight availability, and the number of people in the room. For instance, Philips Hue demonstrated an AI-powered scene customization system that learns user preferences and recommends the best lighting conditions. Barcelona's smart city initiative, which employed AI to control streetlights, was extended in 2024. By enabling dynamic brightness settings, this reduced energy consumption by 30% and improved street safety. As companies work to create intelligent and durable infrastructure, this trend is accelerating in the commercial, residential, and municipal sectors. By facilitating real-time monitoring, predictive maintenance, and connectivity with IoT networks, AI continues to spur innovation.

Market snapshot - 2025-2032

Global Market Size

USD 18.08 Billion

Largest Segment

Wireless

Fastest Growth

Wired

Growth Rate

20.1% CAGR

Global Smart Lighting Market ($ Bn)
Country Share for North America (%)

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Smart Lighting Market Segments Analysis

The global smart lighting market is segmented into components, connectivity, applications, and regions. By components, the market is divided into hardware, software, and services. Depending on connectivity, it is bifurcated into wired and wireless. According to the application, the market is classified into indoor and outdoor areas. Regionally, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Why Is Wireless Connectivity Leading the Smart Lighting Market?

As per the 2024 global smart lighting market analysis, wireless is simple to install, expandable, and compatible with IoT platforms. The wireless category dominated the market. Many homes and businesses use Bluetooth, Wi-Fi, and Zigbee. In 2025, Philips Hue upgraded its AI-powered wireless lighting assistant, which makes it simpler to set up and control scenes over wireless networks with voice or text commands. Wireless interoperability was further enhanced by the Matter protocol, which made it the standard option for smart homes and offices.

The use of wired smart lighting is anticipated to grow steadily in industrial and infrastructure settings where reliable, low-latency connections are crucial. Its expansion is being driven by the rise of smart cities and companies seeking more dependable control. As wired systems are less vulnerable to interference and are safer, they are becoming more and more common in public and business settings. This is a result of significant modifications that emphasize centralized control.

How are Indoor Spaces Driving the Growth of Smart Lighting?

Based on the 2024 global smart lighting market forecast, due to widespread use in homes, hotels, and businesses, indoor applications account for the majority of the market. Advanced lighting is used in smart homes and office buildings for mood setting, energy conservation, and automation. To improve the interior user experience, LIFX, for instance, developed multi-zone smart ceiling lights with Matter support and AI-driven scene modification in 2025. To engage customers with dynamic lighting schemes, retailers are also installing smart lighting within their establishments.

The outdoor category is anticipated to have the largest smart lighting market share due to city investments in smart city infrastructure and energy-efficient streetlights. To reduce energy consumption and improve street safety, cities in Europe and Asia installed networked outdoor systems with motion sensors and movable lighting between 2024 and 2025. With the addition of environmental, traffic, and surveillance sensors, the outdoor area is expanding even more quickly.

Global Smart Lighting Market By Connectivity

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Smart Lighting Market Regional Insights

How is North America Leading the Smart Lighting Revolution?

As per the smart lighting market regional analysis, as more people use energy-saving devices and smart homes, North America continues to lead the market. The percentage of local business buildings with smart lighting installed increased by 28% in 2024. The adoption process is being accelerated by government initiatives that support sustainable urban infrastructure, such as the U.S. DOE's Connected Communities program. The Internet of Things (IoT) and artificial intelligence (AI) are making it possible to control lighting in public spaces and homes in a way that anticipates future developments.

U.S. Smart Lighting Market

The use of AI and the quick development of smart cities are driving the growth of the smart lighting market in the U.S. With over 80,000 new lights installed by 2024, New York City's smart streetlight program reduced energy consumption by 40%. Additionally, AI-powered adaptive lighting is increasingly being used in workplaces and educational institutions. Large corporations like GE Current and Signify are investing in AI-based solutions to improve user comfort and customize lighting for various industries.

Canada Smart Lighting Market

Regulations pertaining to sustainability and urban modernization are driving growth in Canada's smart lighting market. In 2024, Toronto began a $25 million renovation project to swap out city lights for Internet of Things-capable smart systems. AI and motion-sensing lighting are becoming more and more common in homes. It is anticipated that the Canadian market will expand gradually until 2025, particularly in the sectors of public and commercial infrastructure. This is due to the strong backing of eco-building regulations and federal energy-efficiency awards.

Is Europe Setting the Global Standard for Smart Lighting Innovation?

Europe is leading the way in smart lighting innovation because of EU green regulations and smart city initiatives. In 2024, over 100 Million Euros was allocated by the EU's Horizon program for AI-powered city lighting systems. Goals for energy conservation and carbon neutrality are driving adoption across a number of industries. Cities like Vienna and Amsterdam have implemented dynamic lighting grids that use up to 35% less electricity while making the city appear better and safer for people.

UK Smart Lighting Market

The smart lighting sector in the UK is growing quickly because of the government's Net Zero plan. London installed AI-enabled smart lighting in several boroughs in 2024. As a result, street lighting costs were reduced by 25%. Due to energy bill savings and smart home trends, the number of smart lights in homes increased by 20%. AI-powered lighting solutions for your health and work-from-home requirements are also being produced by startups.

France Smart Lighting Market

Strong environmental laws and government assistance have contributed to the significant growth of the smart lighting industry in France. One of the first cities to fully implement AI-based adaptive street lighting was Lyon in 2024. CO2 emissions were reduced by 18% as a result. Adoption was accelerated by the "France Relance" recovery plan, which allocated large sums of money to green digital infrastructure. Both contemporary business districts and historic districts are seeing an increase in the use of smart lighting. This is due to the fact that it effectively balances efficiency and appearance.

Germany Smart Lighting Market

Germany's "Energiewende" strategy has made it a leader in smart lighting projects for businesses and cities. AI-controlled lighting was installed in Berlin's transit corridors in 2024, increasing their energy efficiency by 30%. To make their manufacturing facilities safer and more efficient, the automotive and industrial sectors are also implementing smart lighting. Germany's robust public-private partnerships and cutting-edge research and development are likely to keep it at the forefront of the European smart lighting market.

Is Asia-Pacific the Fastest-Growing Market for Smart Lighting?

Asia-Pacific's smart lighting market is expanding rapidly due to the region's expanding cities and improving infrastructure. More than 35% of all smart lighting installations worldwide were in this region in 2024. The governments of China, India, and Southeast Asia are investing heavily in smart cities. AI and IoT are becoming more prevalent because of the high demand for lighting systems in homes, factories, and businesses. Two key factors that enable this are local manufacturing and cost-effective deployment strategies.

China Smart Lighting Market

China is the Asia-Pacific leader in smart lighting because it produces its own technology and manages Smart City pilot projects. More than 100,000 AI-powered smart lights that change brightness in response to weather and human movement were installed in Shenzhen in 2024. Government incentives and 5G infrastructure are speeding up adoption. AI-based lighting is becoming more widely available to consumers thanks to the efforts of Chinese tech behemoths like Xiaomi and Huawei.

India Smart Lighting Market

According to its Smart Cities Mission, India is emerging as one of the Asia-Pacific regions with the fastest-growing smart lighting market. An AI-based smart lighting system that covered 50,000 streetlights and reduced energy costs by 35% was installed in Pune in 2024. In tier-2 cities, there is an increasing demand for reasonably priced smart lighting solutions. Strong mobile connections and government-led energy efficiency initiatives like UJALA are driving the growth of residential and municipal applications through 2025.

Global Smart Lighting Market By Geography
  • Largest
  • Fastest

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Smart Lighting Market Dynamics

Smart Lighting Market Drivers

Additional Smart City Initiatives

  • Lighting plays a significant role in the development of smart cities, which are actively funded by governments worldwide. These initiatives seek to improve energy use, safety, and public services. By 2025, it is anticipated that over 70% of European cities will have smart street lighting as part of smart city development. This will be more environmentally friendly and use less energy.

Need for Energy-Saving Strategies

  • As they want to save electricity and are concerned about the environment, more people are using smart lighting. Compared to conventional lighting systems, LED-based smart lighting systems can save up to 80% of energy consumption. By enabling motion detection and programmable lighting, AI and IoT integration further increases efficiency. Businesses that implemented automated lighting, particularly in commercial buildings, witnessed power bill savings of up to 40% in 2024.

Smart Lighting Market Restraints

Expensive Initial Installation Fees

  • Even though smart lighting may save you money over time, the initial cost is still high. This is particularly true for homemakers and small business owners. The costs cover the cost of sensors, AI controls, and assembly. Due to this, it is not used in markets where prices are a determining factor. For example, smart lighting upgrades for older buildings may be up to 30% more expensive than standard lighting upgrades.

Issues with Data Security and Privacy

  • Concerns about illegal access and data breaches arise when lighting systems are linked to larger smart networks. The importance of having secure IoT frameworks and rigorous adherence to data protection regulations was demonstrated in 2024 when a European retail chain disclosed that someone had attempted to hack into its smart lighting network.

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Smart Lighting Market Competitive Landscape

Large corporations are concentrating on developing new products, forming strategic alliances, and integrating AI into the fiercely competitive smart lighting market. While new businesses concentrate on creating features that are affordable and initially functioning on mobile devices, established companies like Signify and GE Current are expanding the capabilities of the Internet of Things (IoT). Consolidation of portfolios is aided by mergers and acquisitions, such as Signify's 2024 acquisition of Fluence. Investing in R&D and providing solutions that can expand with sectors like retail, commercial real estate, and urban infrastructure are also essential.

  • InstaLighting (2019): Modern, modular LED lighting systems for cities and businesses are produced by the German company InstaLighting. Its systems look good in public spaces and are environmentally friendly because they are dimmable and non-flickering. By combining durable designs with intelligent control options, InstaLighting offers the smart lighting industry energy efficiency, programmable brightness, and appealing urban infrastructure solutions.
  • Primelite GmbH (2016): A German company called Primelite GmbH produces UV-LED solid-state lighting for industrial applications such as photolithography and semiconductor manufacturing. Its painstakingly constructed lighting solutions are highly stable, effective, and simple to control, meeting the demands of Industry 4.0. Primelite helps create intelligent, automated, and high-precision lighting environments by enabling the use of high-performance, non-thermal lighting in critical production processes.

Top Player’s Company Profiles

  • Signify (Philips Lighting)
  • GE Current
  • Acuity Brands
  • OSRAM GmbH
  • Eaton Corporation
  • Zumtobel Group
  • Cree Lighting
  • Hubbell Lighting
  • Honeywell International
  • Legrand
  • Lutron Electronics
  • Wipro Lighting
  • Syska LED
  • Panasonic Corporation
  • Schneider Electric

Recent Developments In Smart Lighting Market

  • At CES 2025, in January 2025, Philips Hue unveiled a generative AI lighting assistant that will completely change how users plan and control lighting scenes. Customers can use AI suggestions or pre-existing Hue galleries to give voice or text commands to create lighting settings, such as "garden party mood." This update, which includes smart scene management and improved connectivity across entire lighting ecosystems, is being rolled out to all Hue devices.
  • Samsung Electronics Co., Ltd.'s global connected living platform, SmartThings, has partnered with GE Lighting, a Savant company, to reimagine smart home lighting solutions in July 2024. Offering clients a greater range of state-of-the-art connected lighting options for their homes is the aim of this collaboration. Matter compatibility makes it simple to connect Cync Reveal undercabinet fixtures to SmartThings. This integration revolutionizes kitchen lighting by offering solutions that are readily adaptable to users' tastes and lifestyles.
  • Resideo Technologies, Inc., a renowned producer and distributor of technology-driven solutions, has agreed to buy Snap One Holdings Corp., a leading provider of smart-living products and software for professional integrators in April 2024. The deal is valued at approximately USD 1.4 billion when net debt is taken into account. Following the acquisition, Snap One will join Resideo's ADI Global Distribution business. This strategic move combines ADI's established expertise in security product distribution with Snap One's state-of-the-art smart-living solutions and Control4 technology platforms to give integrators more value and better financial outcomes.

Smart Lighting Key Market Trends

Smart Lighting Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, smart cities are being built and there are higher needs for more intelligent, energy efficient lighting solutions, the global smart lighting market outlook is likely changing. Artificial intelligence (AI), voice control, and the Internet of Things (IoT) are rapidly changing the way people interact with technology, both in the workplace and in their homes. While initial costs are in the tens of thousands of dollars and cybersecurity issues have always been paramount and are still concerning, but as government regulations are beginning to improve, technologies are evolving, and companies across industries are investing heavily in new solutions. The landscape is changing quickly. New start-ups and large companies alike are developing new approaches to rapid, low-cost solutions. Sustainable practices, customizable options, and interoperability with other smart systems will increasingly influence new innovations and developments in the smart lighting arena.

Report Metric Details
Market size value in 2023 USD 18.08 Billion
Market size value in 2032 USD 93.97 Billion
Growth Rate 20.1%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware
    • Software
    • Services
  • Connectivity
    • Wired
    • Wireless
  • Application
    • Indoor
    • Outdoor
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Signify (Philips Lighting)
  • GE Current
  • Acuity Brands
  • OSRAM GmbH
  • Eaton Corporation
  • Zumtobel Group
  • Cree Lighting
  • Hubbell Lighting
  • Honeywell International
  • Legrand
  • Lutron Electronics
  • Wipro Lighting
  • Syska LED
  • Panasonic Corporation
  • Schneider Electric
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Smart Lighting Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Smart Lighting Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Smart Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Lighting Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Lighting Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Smart Lighting Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Global Smart Lighting Market size was valued at USD 18.08 Billion in 2023 and is poised to grow from USD 21.71 Billion in 2024 to USD 93.97 Billion by 2032, growing at a CAGR of 20.1% during the forecast period (2025-2032).

Large corporations are concentrating on developing new products, forming strategic alliances, and integrating AI into the fiercely competitive smart lighting market. While new businesses concentrate on creating features that are affordable and initially functioning on mobile devices, established companies like Signify and GE Current are expanding the capabilities of the Internet of Things (IoT). Consolidation of portfolios is aided by mergers and acquisitions, such as Signify's 2024 acquisition of Fluence. Investing in R&D and providing solutions that can expand with sectors like retail, commercial real estate, and urban infrastructure are also essential. 'Signify (Philips Lighting)', 'GE Current', 'Acuity Brands', 'OSRAM GmbH', 'Eaton Corporation', 'Zumtobel Group', 'Cree Lighting', 'Hubbell Lighting', 'Honeywell International', 'Legrand', 'Lutron Electronics', 'Wipro Lighting', 'Syska LED', 'Panasonic Corporation', 'Schneider Electric'

Lighting plays a significant role in the development of smart cities, which are actively funded by governments worldwide. These initiatives seek to improve energy use, safety, and public services. By 2025, it is anticipated that over 70% of European cities will have smart street lighting as part of smart city development. This will be more environmentally friendly and use less energy.

Creating Lights That Change with AI and IoT: One of the major smart lighting industry trends includes integration of IoT and AI into lighting. AI and IoT are increasingly being used by smart lighting systems to provide users with responsive and customized experiences. AI-enabled lighting in smart office buildings will be able to change the lighting's brightness according to the amount of natural light present and the number of occupants. Employees will be happier and expend less energy as a result. In North America and Europe, this trend is particularly strong.

How is North America Leading the Smart Lighting Revolution?

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