According to a new report Global Smart Lighting Market, published by KBV research, the Global Smart Lighting Market size is expected to reach $20.3 billion by 2023, rising at a market growth of 20.7% CAGR during the forecast period.
The Digital Addressable Lighting Interface market holds the largest market share in Global Smart Lighting Market by Wired Communication Technology in 2016 and would continue to be a dominant market till 2023. The Power-Line Communication market is expected to witness a CAGR of 19.9% during (2017 – 2023). Additionally, The Power Over Ethernet market is expected to witness a CAGR of 20.6% during (2017 – 2023).
The KBV Cardinal Matrix is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Honeywell International, Inc. and General Electric (GE) are the forerunners in the Smart Lighting market.
KBV Cardinal Matrix – Smart Lighting Market
The Hardware market holds the largest market share in Global Smart Lighting Market by Component in 2016 and would continue to be a dominant market till 2023. The Services market would garner market size of $3,668.9 million by 2023.Source: KBV Research Analysis, Company Publications and Secondary Research
The Europe market holds the largest market share in by 2023, growing at a CAGR of 18.4 % during the forecast period in Global Smart Lighting in Commercial Market by Region. The North America market is expected to witness a CAGR of 19.6% during (2017 – 2023) in Global Smart Lighting in Industrial Market. Additionally, The Asia Pacific market is expected to witness a CAGR of 22.9% during (2017 – 2023) in Global Smart Lighting in Highways & Roadways Market.
Full Report: https://kbvresearch.com/smart-lighting-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Global Smart Lighting Market have been discussed in the report with the competitive analysis and elaborated company profiles of Cree, Inc., Koninklijke Philips N.V. (Philips Lighting), Honeywell International, Inc., Wipro Limited (Wipro Consumer Care and Lighting), Acuity Brands, Inc., Eaton Corporation Plc., Legrand S.A., General Electric, Osram Licht AG, and Streetlight.Vision.
Global Smart Lighting Market Size Segmentation
By Communication Technology
- Digital Addressable Lighting Interface
- Power-Line Communication
- Power Over Ethernet
- Lights & Luminaires
- Lighting Controls
- LED Drivers & Ballasts
- Switches & Dimmers
- Relay Units
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