The global smart lighting market size will reach US$13.4 billion by 2020

2018-05-07 00:00

In the past few years, smart lighting has not be widespread. However, with the diversification of products and continuous improvement of technology in 2017, gradually maturity and actively promotion of manufacturers, the global smart lighting market has entered a stage of rapid development. In 2017, global smart lighting market size is close to $4.6 billion, the annual growth rate is reach up to 95% and it is expected to reach 13.4 billion U.S. dollars in 2020.

Industry and commerce accounted for 60% of smart lighting and fastest growth in the residential sector

The global smart lighting market still has to rely on the continued expansion of public infrastructure. One of the biggest promoters is construction of smart city. With the support of the government, major cities in the world are pushing for plans of smart city, the pace of construction is expected to continue accelerating, therefore, the application of intelligent lighting in the public domain will be given priority.

Under the promotion of the government, the social acceptance of smart lighting has improved a lot, intelligent lighting has the advantages of energy saving, convenience, and easy control. The rise of the internet of things also gives companies the necessity to import networked lighting. Therefore, in the commercial and industrial lighting market, the demand for intelligent lighting has grown rapidly. In 2017, industrial and commercial lighting accounts for 60% of the global smart lighting market. Under the digital development, intelligent lighting will bring more new models of business and enhancements of value to these two areas.

In contrast, although the actual adoption of smart lighting is still used by a small number of families, however, as living standards' improvement of consumers, driven by related policies and promotion by manufacturers, the application of smart home lighting will gradually become popular. It is stimated that residential lighting in 2017 accounts for 23% of the global smart lighting market size, in 2020, the proportion will increase to 31%. In the next few years, smart lighting and smart home will develop together, it will become the fastest growing area of application.

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Networked lighting and key manufacturers under the development of smart city

Global lighting manufacturers take different strategies to accelerate transformation and upgrade in recent years, in order to abandon general lighting with low profits, focusing on smart lighting with higher profits and better prospects, Op lighting of Chinese manufacturer cooperate through product's development and cross-border, implemented interconnection of of lighting products and remote control of intelligent terminal.