Smart Lighting Market to Grow by USD 26.4 Billion from 2025-2029, Driven by Emergence of Smart Lighting, Report on Market Evolution Powered by AI - technavio

NEW YORK, Feb. 12, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The smart lighting market and it is set to grow by USD 26.4 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of almost 18.5% during the forecast period, according to Technavio. The smart lighting market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Acuity Brands Inc., Current Lighting Solutions LLC, Dialight PLC, Eaton Corp., Helvar Merca Oy Ab, Honeywell International Inc., Hubbell Inc., Ideal Industries Inc., Legrand SA, Leviton Manufacturing Co. Inc., Lightwaverf Technology Ltd., Lutron Electronics Co. Inc., OSRAM GmbH, RAB Lighting Inc., Savant Systems Inc., Siemens AG, Signify NV, Synapse Wireless Inc., Wipro Ltd., and Zumtobel Group AG are some of the major market participants -. To know about the vendor offerings -Request a sample report

Smart Lighting Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart lighting market report covers the following areas:

• Smart Lighting Market Size
• Smart Lighting Market Trends
• Smart Lighting Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The smart lighting market is fragmented, and the degree of fragmentation will accelerate. The emergence of smart lighting will offer immense growth opportunities. However, the Technological challenges related to LEDs will hamper the market growth

Smart Lighting Market 2025-2029: Drivers & Challenges

The Smart Lighting Market is experiencing significant growth due to various factors. Energy usage and long-life lighting systems are key drivers. Mercurycury and LEDLED technologies are commonly used in modern lighting systems, offering energy savings and longer lifetimes than traditional lighting. Additionally, the use of sensors and controls in smart lighting systems enables productivity and cost savings. Controllability and dimmability are also important features, providing flexibility and comfort for users. The digital transformation and IoTIoT revolution are also driving the market, with connectivity enabling remote control and monitoring of lighting systems. Furthermore, the increasing adoption of renewable energy sources and government initiatives to promote energy efficiency are also contributing to the growth of the smart lighting market.

The Smart Lighting Market faces several challenges in its implementation and growth. Technological difficulties in integrating various systems and devices are a significant hurdle. Compatibility issues between different brands and protocols hinder the seamless operation of smart lighting systems. Additionally, high initial investment costs and the need for regular updates and maintenance add to the challenges. However, the potential benefits of energy savings, improved comfort, and enhanced security make it a promising market for innovation and growth. The LED industry, in particular, is driving the smart lighting market forward with advancements in technology and cost reduction strategies. The market is expected to grow significantly in the coming years, with a focus on developing user-friendly and cost-effective solutions.

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Segment Overview 

This smart lighting market report extensively covers market segmentation by  

• Application
• Commercial
• Residential
• Public Infrastructure
• Others
• Component
• Hardware
• Software
• Services
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

1.1 Commercial-  The Smart Lighting Market is experiencing significant growth due to increasing energy efficiency and cost savings. Businesses are adopting smart lighting solutions to automate lighting systems and reduce energy consumption. Smart lighting systems use sensors to detect occupancy and adjust lighting levels accordingly, saving energy and lowering utility bills. Additionally, smart lighting can be integrated with other building automation systems, providing businesses with centralized control and management of their lighting infrastructure. Overall, the adoption of smart lighting is a cost-effective and energy-efficient solution for businesses looking to modernize their lighting systems.

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Smart Lighting Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist smart lighting market growth during the next five years
• Estimation of the smart lighting market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the smart lighting market across Europe, North America, APAC, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart lighting market vendors

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio