Goldstein Research has now released its new market research report titled “Global Smart Lighting Market Outlook, 2024”. It provides detailed analysis of the smart lighting technologies having application in commercial, industrial and residential lighting infrastructure along with comparison amongst LED, Fluorescent and High Intensity Discharge Lamps. This analysis foresees growth for global smart lighting market at 4.6% CAGR to reach market size over USD 54.7 bn by 2024. In North America, value based smart lighting market share is expected to grow around 70% by 2024 up from 40% in 2016.
According to the report, growing energy saving concerns and emerging advanced technologies such as internet of things (IoT) and connected devices coupled with accelerating LED price erosion are the major factors driving the growth of smart lighting market. By 2020, there could be more than 50 billion devices and 7 billion people connected. This has tremendous implications for cities and businesses, over the next few years millions of lights will be converted to LED technology.
On the other hand, rapidly growing demand for energy conservation coupled with government initiative is expected to impel the deployment of adaptive street lights, further boosting the demand for LEDs. Energy saving standards and various governments policies for energy consumption are widespread adoption across geographies such as BREEAM in European Union, CASBEE in Japan and standards for green construction in China.
Asia-Pacific is the largest region for smart lighting market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific smart lighting market valued USD 9.2 billion in 2016 and is estimated to reach USD 15.3 billion by 2024. China is expected to dominate the smart lighting market followed by Japan and South Korea due to high LED production and rapid smart lighting penetration in these countries.
Get full report @ www.goldsteinresearch.com/report/smart-lighting-market-outlook-2 ..
“Global Smart Lighting Market Outlook 2024” by Goldstein Research contains detailed overview of the global smart lighting market. Further, for the in-depth analysis, it encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Philips Lighting, Osram Licht AG, Zumtobel Group, CREE Inc, General Electric Company, Digital Lumens, SemiLEDs Corporation etc.The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global smart lighting market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Get market report sample @ www.goldsteinresearch.com/request-sample/smart-lighting-market-o ..
Press Information
Goldstein Research
99 Wall Street, Suite No 527
Steve Blade
Global Sales Head
6465687747
