Smart Lighting Market in Asia Pacific is projected to surpass $6 bn by 2024 Graphical Research

The Asia Pacific smart lighting market growth is attributed to the growing awareness regarding the benefits of energy-efficient lighting systems to meet the energy security challenges in the developing countries in the region. The government initiatives for offering cost-effective lighting solutions for the residential sector are expected to increase the demand for smart lighting solutions in the region over the forecast period.

A Graphical Research report, titled “APAC Smart Lighting Market size based on Component, Technology, Lighting Source, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024”, predicted to cross USD 6 billion by 2024

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The light controls segment held a majority share of around 50% in the Asia Pacific smart lighting product market in 2017. The technological advancements in controls such as sensors, switches and routers, and LED drivers are expected to fuel the market growth during the forecast period. The sensors segment is expected to register the fastest growth between 2018 and 2024 due to the modern sensor technologies employed in smart lighting solutions to add enhanced control features for customers. The routers & gateways segment is projected to hold a majority share of the Asia Pacific smart lighting market by 2024.

India is expected to witness the fastest growth in the Asia Pacific smart lighting market at a CAGR of around 30% between 2018 and 2024. India’s energy consumption is anticipated to grow at 4.2 percent per year till 2035, which is faster than that of all the developed economies globally. India is the second largest energy consumer in Asia since 2008 with around 35 million street lights installed consuming 3,400 megawatts of energy. The demand for smart lighting systems in the country is expected to grow steadily over the forecast timeline.

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Some of the key vendors in the Asia Pacific smart lighting market are GE Lighting, Silver Spring Networks, Schneider Electric, Cooper Industries (Eaton), Acuity Brands, Zumtobel, Cree, Bridgelux, Hubbell, Tvilight, and Philips Lighting.

Segments We Cover:

Asia Pacific Smart Lighting Market Size, By Component
Product
Luminaires
Smart Bulb
Fixtures
Light Control
Sensors
Switches & Dimmers
Relays
Router & Gateways
LED Driver & Ballasts
Technology
Wired
PLC
PoE
DALI
Hybrid
Wireless
Bluetooth
Zigbee
Wi-Fi
EnOcean
Hybrid

Asia Pacific Smart Lighting Market Share, By Lighting Source
LED
Fluorescent Lamp
CFL
HIDL

Asia Pacific Smart Lighting Market Forecast, By Application
Indoor Lighting
Residential
Commercial
Industrial
Outdoor Lighting
Highways & Roadways
Public Places
Bridges & Tunnels

The above information has been provided for the following regions and countries:
Asia Pacific
U.S.
Canada
China
India
Japan
South Korea
Australia & New Zealand (ANZ)
Singapore
Taiwan

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Related Reports:

1.    North America Smart Lighting Market Size By Component (Product [Luminaires {Smart Bulbs, Fixtures}, Light Control ], Technology [Wired, Wireless {Bluetooth, Zigbee, Wi-Fi, EnOcean, Hybrid}]), By Lighting Source (LED, Fluorescent Lamp, CFL (Compact Fluorescent Light), HIDL (High Intensity Discharge Lamp), By Application (Indoor Lighting [Residential, Commercial, Industrial], Outdoor Lighting [Highways & Roadways, Public Places, Bridges & Tunnels]), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

2.    Europe Smart Lighting Market Size By Component (Product, Technology [Wired {PLC (Power Line Control), PoE (Power over Ethernet), DALI (Digital Addressable Lighting Interface), Hybrid}, Wireless {Bluetooth, Zigbee, Wi-Fi, EnOcean, Hybrid}]), By Lighting Source (LED, Fluorescent Lamp, CFL (Compact Fluorescent Light), HIDL, By Application (Indoor Lighting [Residential, Commercial, Industrial], Outdoor Lighting [Highways & Roadways, Public Places, Bridges & Tunnels]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

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