Market Highlights:
Smart lighting market is estimated to exhibit high growth potential during the forecast period owing to increasing development of smart cities. 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. Increasing advancements in technology is another major factor responsible for the growth of smart lighting market. 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. Smart lighting market is expected to witness significant growth with the growing development of smart cities and increasing demand for cost effective solutions in order to improve overall productivity.
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Smart lighting market has been segmented on the basis of component, product type, light source, communication technology and application. The communication technology segment is bifurcated into wired and wireless communication technology. Out of which, the wired communication technology segment is expected to hold the largest market share of smart lighting market whereas, wireless communication technology segment is expected to grow at the highest CAGR during the forecast period. This is owing to the increasing popularity of internet of things and growing demand for connected things. 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. This could be a major factor that could cause hindrance in the growth of smart lighting market. Security and privacy issues regarding the implementation of smart lighting solutions is another major factor that could hamper the growth of smart lighting market.
According to Market Research Future Analysis, Smart Lighting Market has been valued at approx. USD 25 Billion by the end of forecast period with 27% of CAGR during forecast period 2017 to 2023.
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.
Smart Lighting Global Market - Segmentation
The smart lighting market can be classified into 7 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Component: Comprises of Software and Service
- Segmentation by Product Type: Comprises of Smart Bulbs, Fixtures and Lighting Control
- Segmentation by Light Source: Comprises of Fluorescent Light Source, LED Light Source, HID Light Source and Other Light Sources
- Segmentation by Communication Technology: Comprises of Wired Communication Technologies and Wireless Communication Technologies
- Segmentation by Application: Comprises of Indoor Lighting and Outdoor Lighting
- Segmentation by End User: Comprises of Residential end-users, Commercial end-users, Industrial end-users and Government
- Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Regional Analysis:
The regional analysis of smart lighting market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Europe is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in smart lighting market in Europe is attributed to technical advancements and increasing investments in infrastructure modernization projects in that region. The growth in Europe is followed by North America region.
Intended Audience
- Technology investors
- Research/Consultancy firms
- Technology providers
- Residential end-users
- Commercial end-users
- Industrial end-users
- Government bodies
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TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Component
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
6 Smart Lighting Market, By Segments
6.1 Introduction
6.2 Market Statistics
6.2.1 By Component
6.2.1.1 Software
6.2.1.2 Service
6.2.2 By Product Type
6.2.2.1 Luminaries
6.2.2.1.1 Smart Bulbs
6.2.2.1.2 Fixtures
6.2.2.2 Lighting Controls
Continued…
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Market Research Future published a research report on “Smart Lighting Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.Smart Lighting Global Market - OverviewThe global smart lighting market is showing immense growth; mainly due to the growing need for energy-efficient lighting systems.
Smart lighting can help in changing the atmosphere of the home with the touch of a button.
With the advancements in technology, smart lighting also allows controlling of the lights with a voice command.According to a recent study report published by Market Research Future, The global market of smart lighting is booming and expected to gain prominence over the forecast period.
The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
The Smart Lighting market is highly competitive due to the increase in implementation of cloud based technologies and developments in the field of internet of things.
On the other hand, lack of awareness regarding installation costs and payback periods are major factors hindering the growth of smart lighting market.
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.
