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Transparency Market
Research
Smart Lighting Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2014 – 2020
Published Date
2015-05-04
91 Page Report
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Press Release
Smart Lighting Market is Expected to Reach USD 56.62 billion in
2020
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Smart Lighting Market
REPORT DESCRIPTION
Smart Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2014 – 2020
According to a new market report published by Transparency Market Research “Smart Lighting
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” global
smart lightning market was valued at USD 21 billion in 2013, growing at a CAGR of 15.9% from
2014 to 2020 to account for USD 56.62 billion in 2020.
The smart lighting market is primarily driven by the growing demand for energy efficient lighting
system in order to reduce energy consumption cost. Smart lighting solutions primarily find
applications in commercial, industrial, residential and outdoor lightings. The lighting systems
contributes majority of the energy consumption cost in commercial and industrial buildings.
Presently, most of the lighting systems installed are based on the traditional lighting systems.
However, increasing awareness for reducing lighting energy consumption cost among the
building owners is driving the growth of the smart lighting market. In addition, development of
sensor and wireless technology in the field of smart lighting for better lighting efficiency and
monitoring lightings is fueling the growth of the market. Growing implementation of smart
lighting for intelligent streetlights and replacement of traditional lamps with LED lamps is further
aiding the growth of this market.
Browse the full Smart Lighting Market report at...