Smart Light and Control Market Global Market – Overview
As per Market Research Future (MRFR), in its latest report, published on the global smart light and control market, it states that the market is anticipated to expand at a substantial CAGR across the forecast period. Continuous decline in average selling price (ASP) of led bulbs, increase in utility of smart devices, high rate of adoption of internet of things, remotely access and control by software, are factors that are expected to propel the growth of the global smart light and control market.
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Key Players
Ams Ag, Acuity Brands, Commscope, Inc., Bytelight, Eaton’s Cooper Lighting, Daintree Networks, Lutron, Enlighted. Inc, Tvilight, Nxp Semiconductors, and others are some of the well-established key players functioning in the smart light and control market that are profiled by MRFR.
Market Insights
LED or CRL bulbs are used in smart bulbs instead of incandescent bulbs, which requires less amount of energy to light a room bright enough. The access to smart lights is through smart connectivity devices eliminates the need for making physical efforts. The global smart light and control market are expected to capitalize on these two major benefits. Smart lights are gaining popularity among people due to their longer shelf-lives. Technological advancements are likely to bolster the market expansion. The motion-detection feature of smart lights enables controlling their activities as they sense movements. This prevents wastage of electricity. Smart lights activities can be customized. Their ability to change color can alter a room’s aura. These features are likely to benefit the global Smart Lights and Control Market. The availability of strong network connectivity, such as WiFi and bluetooth, is another factor that is likely to escalate the sales of smart lights, which, in turn, is expected to propel the market growth.
Segmental Outline
The smart light and control market is segmentation by types, components, connective technology, and application. By type, the market is segmented into Compact Fluorescent Light (CFL), Fluorescent Lamps, High Intensity, Light Emitting Diodes (LED), Discharge Lamps (HID, and others. By components, the market is segmented into LED Drivers & Ballasts, Dimmers & Switches, Sensors, Wireless Receivers & Transmitters, Microprocessor & Controllers, and others. By connective technology, market is segmented into wireless connectivity technologies and wired connectivity technology. By application, the market is segmented into commercial, residential, and other
Regional Outlook
The smart light and control market is expected to exhibit a healthy growth in the North America region due to increase in awareness about benefits of smart lights. Smart lights are gaining popularity, especially among youngsters, due to their high feasibility in operating and aesthetic appeal. According to MRFR, North America is likely to lead in the globally. Additional elements, such as hike in per capita income and rise in the standard of living can bolster the regional market expansion. North America is also home to eminent key players that imparts a competitive advantage over other regions. In Europe, the rising demand for smart light and control market across wealthy countries such as the UK, Germany, France, and Italy is likely to contribute significantly to the regional market growth. Europe is witnessing the rapid infiltration of technologies that are enabling in quick unfurling of innovations that is likely to boost the regional smart light and control market. The smart light and control market in the Asia Pacific region is expected to show rapid growth. The ever-expanding semiconductor industry powerful economies, such as Taiwan, Japan, South Korea, and China is likely to spur the regional market growth. In addition, the existence of proper infrastructural base in China and India that supports the high production rate o smart lights are expected to surge the APAC market growth.
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