Market Insight
The smart lighting market is gaining substantial traction attributed to the ongoing innovations that are taking place in lighting solutions. On this note, Market Research Future has published a new report stating that the global smart lighting market can expect a hike of approximately 27% CAGR during the forecast period 2017-2027.
Market Drivers & Trends
With better technology, the trending lighting solutions are providing new opportunities to leverage new businesses across the globe, which has assisted the market in proliferating in the current time.
an add on, government organizations in various countries, around the world, are initiating in developing smart cities and installing smart lighting. These factors are augmenting the global Smart Lighting Market and are estimated to expand it in the foreseeable years having an increasing demand in various other fields.
In case of point, Koninklijke Philips N.V., Schiphol Group, Cofely, and Royal Philips are marvels of the market who entered with collaborating for new lighting system in the terminal buildings at Amsterdam Airport Schiphol. These lights would be responsible for optimum performance, durability as well as could be re-used and recycled anytime. The modernization in LED has also led to the global smart lighting market to expand remarkably over the years
Furthermore, growing awareness about environmental benefits is also a significant concern which is initiating the market to increase the production of smart lighting and could impact the market growth positively. Apart from this, more factors such as rising and improving wireless communication technology as well as growing investment in smart home & cities market are expected to impact the growth of the market constructively in the assessment period.
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Key Players
The prominent players in smart lighting market are – Philips Lighting Holding B.V. (The Netherlands), Acuity Brands Lighting, Inc. (U.S.), General Electric Company (U.S.), Osram Licht AG (Germany), Honeywell International Inc. (U.S.), Legrand S.A. (France), Schneider Electric SE (France), CREE, Inc. (U.S.), Cooper Industries, Inc. (Ireland), Digital Lumens, Inc. (U.S.) and others.
Segmentation:
The global smart lighting market is segmented on the basis of component, product type, communication technology, application, and region.
- By component, the global smart lighting market is segmented into software and services.
- By product type, the global smart lighting market is segmented into luminaries and lighting controls.
- By light source, the market is segmented into LED, fluorescent lamps, and high-intensity discharge lamps.
- By communication technology, the global smart lighting market is bifurcated into wired and wireless, which are further segmented into power line communication, power over ethernet, digital addressable lighting interface, wired hybrid protocols, and others, and Enocean, wi-fi, ZigBee, wireless hybrid protocols, Bluetooth, 6lowpan, and others, respectively.
- By application, the global smart lighting market is segmented into indoor and outdoor lighting. The indoor lighting segment is sub-segmented into residential, commercial, industrial, and others, while the outdoor lighting segment is further segmented into architectural lighting, lighting at public places, highway and roadway lighting, and others.
Regional Analysis:
Europe is the leading regional segment of the global smart lighting market and is likely to retain a strong hold over the smart lighting market over the forecast period due to the growing public and government support to environmentally beneficial technology. The long-term cost and power savings offered by smart lighting systems have resulted in widespread application of smart lighting in Europe. The supportive presence of the required infrastructure and financial concessions is likely to be a key driver for the smart lighting market in Europe over the forecast period. North America is also likely to witness a growing demand for smart lighting over the forecast period.
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TABLE OF CONTENTS
LIST OF TABLES
Table 1 Smart Lighting Market, By Component
Table 2 Smart Lighting Market, By Product Type
Table 3 Smart Lighting Market, By Light Source
Table 4 Smart Lighting Market, By Communication Technology
Table 5 Smart Lighting Market, By Application
Table 6 Smart Lighting Market, By Region
Table 7 North America Smart Lighting Market, By Component
Table 8 North America Smart Lighting Market, By Product Type
Table 9 North America Smart Lighting Market, By Light Source
Table 10 North America Smart Lighting Market, By Communication Technology
Table 11 North America Smart Lighting Market, By Application
Table 12 North America Smart Lighting Market, By Region
Table 13 U.S. Smart Lighting Market, By Component
Table 14 U.S. Smart Lighting Market, By Product Type
Table 15 U.S. Smart Lighting Market, By Light Source
Continued…
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Major driving factor in the growth of smart lighting market is the growing need for energy efficient solutions and smart lighting solutions for the same.
Increased demand for intelligent street lighting solutions is one major factor responsible for fueling the growth of smart lighting market.Giants like Philips Lighting (Netherlands), Acuity Brands Lighting, Inc. (U.S.), General Electric Company (U.S.), OSRAM Licht AG (Germany) and Honeywell International (U.S.) are the major players in the smart lighting market.
Philips Lighting has come up with new solutions for smart lighting by embedding ZigBee communication chips inside the LED ceiling lights and luminaries which will help in reducing the energy consumption by controlling the lighting in an intelligent manner.
Pre-programmed sensors are already fit into it and can be directly controlled with the help of ZigBee from any phone or tablets.
The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements.
This replacement of wired with wireless will also avoid the hassle of laying wires and improve flexibility.The major factor restraining the growth of smart lighting market is the lack of awareness about the installation costs and also regarding payback period.
The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
