Future Market Trends of Smart Lighting Market.

Future Market Trends of Smart Lighting Market.

Growing demand of user-friendly, economical and low energy consuming solutions and development of wireless and sensor technologies are projected to bolster the global market.

The global smart lighting market is categories into lighting types, application, connectivity technology and geographical regions. Furthermore the lighting type is broadly segmented into light emitting diode lights, fluorescent lights, compact fluorescent lights, high intensity discharge bulbs and others (such as photographic flashes and neon lamps).The lighting application market is further segmented into residential lighting, commercial lighting, industrial lighting, government, outdoor lighting, and automotive lighting. On the basis of connectivity technology the market is segment into wireless and wired technology. The global market is also segmented based on the basis of geographically as Europe, North America, Asia-Pacific, Middle East & Africa and South America.

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Since past few years the price of LED luminaires have reduced dramatically. The price of LED luminaires a decade ago was almost twice to thrice in comparison to the present day scenario. Furthermore, it is still expected to reduce and become as affordable as common fluorescent or incandescent lighting solutions without affecting its ability to reduce energy consumption by up to 70%. This reduction in price has taken place due to the slowing demand of LED luminaires in market owing to their high prices. Thus, the manufacturers offered a competitive price, thereby leading to a dramatic reduction in price of LED, in order to promote LED lighting solutions in the market.

Smart lighting being an emerging concept in the lighting world, is facing slow acceptance in the market. This is mainly owing to the lack of awareness regarding the benefits of the technology. The customers here, are habituated to the...

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