Global Smart Lighting Market Worth US$8.14 Billion by 2020

The total Smart Lighting Market is expected to reach US$8.14 billion by 2020, growing at a compound annual growth rate of 22.07% between 2015 and 2020, according to forecasts in a new report by MarketsandMarkets.

The entire lighting market is expected to experience high growth, especially from its emerging smart lighting technology. “Smart Lighting” refers to the environment controlled by lighting control systems. In brief, lighting control systems use factors such as occupancy, available daylight, and time of the day to turn lights on or off, thus providing noteworthy energy and cost savings. The need for smart lighting products is evolving and growing continuously, the report says. Smart lighting techniques are used for area specific lighting, calculating and managing the requirement of lighting in a particular area. It allows end users to control costs and eliminate lighting wastage.

The report covers the global smart lighting market and all its market aspects with future opportunities, drivers, restraints, and others. It segments the smart lighting markets on the basis of connectivity technologies, end users, lighting types, components, and geography, and provides market size projections with qualitative and quantitative industry insights. The report also includes a competitive landscape of the key players in the Smart Lighting Market with detailed market ranking analysis, mergers and acquisitions, collaborations, partnerships, new product developments, and the key growth strategies of each player.

Find out more about the report, “Smart Lighting Market by Connectivity Technologies (Wired & Wireless), End Users, by Lighting Types (Fluorescent Lighting, LED Lamps, & Others), by Components (Control & Communication, Luminaries & Fixtures), and Geography – Global Forecast to 2020”:
http://www.marketsandmarkets.com/Market-Reports/smart-lighting-market-985.html