Major Trends Influencing the Smart Lighting Market
Rising energy demands globally call for improved energy efficiency usage and increased energy supply. For example, India’s power ministry proposed a simple solution for its energy crisis, which is, upgrading the lighting system to LED light bulbs.
According to the global smart lighting market report the market for smart lighting was estimated at $11.93 billion in 2020 and is expected to grow at a CAGR of 23.1% during the forecast period from 2021 to 2025. The growth of the market is attributed to factors including the development of smart cities, and the increasing trend of smart homes along with customization benefits supporting the smart lighting market, among others.
Some of the trends that can influence the growth of the market include cloud-based lighting controls, light fidelity (Li-Fi) becoming a brighter way to communicate, OLED panel shipments on the rise, LED filament bulbs combining incandescent bulb beauty with led lamp benefits, and lighting as a service (LaaS).
Wireless lighting control technology has taken the next step with the integration of cloud computing. Net-based LED technology allows seamless controls of all the luminaires at a particular installation through cloud-based computing technologies. This technology enables real-time monitoring of lighting conditions, occupancy, and energy consumption, in addition to allowing the user to control the light.
One of the major trends observed in the global smart lighting market is the emergence of light fidelity. Lights are no longer used to provide just illumination; they are also used for high-speed data transmission. Li-Fi is an optical wireless communication technology that can be used for data transmission at high speed. Data transmission speed up to 228Gbps has been achieved in the laboratory through this technology.
Organic light-emitting diodes (OLED) are regarded as a future substitute for LED Luminaires. They have already replaced LED in display technologies, and manufacturers are looking forward to developing OLED luminaires. A unique feature of an OLED panel is that the light emitted by it is closest to natural light providing a more comfortable and natural experience. They can be manufactured on a flexible plastic substrate. Therefore, they can offer thin and flexible lighting panels.
The changing paradigm of the lighting industry to the electronics industry is a major opportunity for the growth of the smart lighting controls market. With the arrival of smart technologies in the lighting industry, various gateways have been opened for the companies of several industry verticals, such as control systems, dimmers, and software-based solutions and sensors. The scenario of the lighting industry has been completely transformed with the establishment of these modern technologies.
We will help you find what you are looking for.