Commercial IoT Lighting Solutions to Reach US$4.5 Billion by 2026
November 6, 2017
Expect global market revenue for IoT lighting in commercial buildings to grow from US$651.1 million in 2017 to US$4.5 billion in 2026, says a new report from Navigant Research.
Lighting controls originally designed for dimming or daylighting have evolved beyond those original functions to include space utilization, conference room management, increased employee productivity, and improved operational efficiency by removing labour required by facility managers or other building personnel. The evolution from an intelligent lighting control system toward an IoT lighting system has occurred in large part because of the easy use of sensors as a host for IoT applications.
Internet of Things (IoT) lighting solutions bring connectivity to devices that were previously not connected and provide data (where data were not available) through the connection. An IoT lighting system also enables one device to talk with another device. Connectivity and communication can happen between devices within the lighting system and between lighting devices and non-lighting devices. Networked lighting controls achieve many of the aspects described in this definition of IoT lighting solutions. These solutions add to a networked system by providing some level of artificial intelligence (AI) and machine learning to deliver additional benefits.
This Navigant Research report analyzes the global market for IoT lighting solutions, including hardware, software, and services, within commercial buildings. The study examines use cases and provides case studies highlighting IoT lighting solutions in select building types. Global market forecasts for revenue, segmented by offering type, building type, and region, extend through 2026. The report also analyzes market issues, including key drivers and barriers for IoT lighting solutions in commercial buildings, as well as prevalent and emerging communication protocols for IoT lighting systems.
Find out more: https://www.navigantresearch.com/research/iot-for-lighting
Photo source: IEEE
