The global wireless lighting market is expected to be worth $1,31,896 million by 2022. Wireless lighting, also known as smart lighting, is expected to grow at a 3.48% CAGR over the forecast period. Against this backdrop, the total wireless lighting market size is expected to reach US$ 1,85,672 million by 2032.
With the proper method of time and changing customer needs, the interest for cutting edge lighting foundation at various applications, such as private, ads, and others, arose. As a result, wireless lighting items with built-in sensors and regulators appear.
The Wireless Lighting Market frameworks, in addition to acting as a lighting arrangement, fill various other needs, for example, inhabitance detecting, movement location, and others, which help customers in their everyday daily practise and furthermore helps in lessening power bills by restricting and controlling the utilisation of light, if no inhabitance is identified. As a result of the growing demand for better lighting arrangements, the demand for effective wireless lighting items is expected to rise.
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Wireless Lighting Market: Drivers and Restraints
Surge in demand for better and advance lighting infrastructure to save energy is the major factor driving the growth of the wireless lighting market during the forthcoming years.
Owing to various benefits associated with wireless lighting solution such as non-destructive installation, mobility, ease of use and others are promoting adoption better lighting infrastructure and thus, act as a major factor spurring the growth of the wireless lighting market. However, the high price of wireless lighting product is the major factor hampering the growth of wireless lighting markets in forthcoming years.
Global Wireless Lighting Market: Competitive Landscape
The major participant associated with wireless lighting market includes Panasonic Corporation, GE Lighting LLC, Schneider Electric S.E, Acuity Brands Lighting, Inc., Hubbell Lighting, Inc., Honeywell International, OSRAM Licht AG, Eaton Corporation, CREE Inc., and Royal Philips NV.
The other players operating in the wireless lighting market includes Leviton Manufacturing Co., Inc., Lutron Electronics Co., Inc., Glamox lighting, Lifi Labs Inc., Switchmate Home LLC., IKEA, Disano Illuminazione S.p.A, and EGLO Leuchten GmbH.
- In April 2017, the OSram AG launched SIMPLU X. The product is a wireless lighting control system, which is designed for small- to mid-sized workplace. The SIMPLUX wireless lighting control system can be used in commercial offices, schools, warehouses, and places where adopting a wired solution is complex to achieve.
Global Wireless Lighting Market: Regional Trend
Due to increasing inclination towards the adoption of better lighting products in emerging economies such as China, India is the major reason, significantly promoting the growth of the wireless lighting market. Further, increase in demand for energy efficient lighting solution is the other the key reason driving the adoption of the wireless lighting market during the forecast period.
Wireless lighting products can be installed in those areas, where providing wiring infrastructure is difficult, owing to which the demand for wireless lighting solution is projected to increase in developed regions such as North America and Western Europe.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Global Wireless Lighting Market: Market Segmentation
Global Wireless Lighting Market can be divided into three segments, on the basis of Product, Application, and Region.
- Commercial Buildings
- Government offices and building
- Street Lighting
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa