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Global Smart Lighting Market Worth $19.47 Billion by 2022 - Increasing Demand for Intelligent Solutions for Street Lighting Systems - Research and MarketsResearch and Markets has announced the addition of the "Smart Lighting Market - Global Forecast to 2022" report to their offering. The global smart lighting market is expected to be valued at USD 19.47 billion by 2022 and is expected to witness a shipment of 1.27 billion units by 2022, at a CAGR of 27.1% and 71.3%, respectively, between 2016 and 2022. The increasing consumer demand for energy-efficient lighting systems, increasing demand for intelligent solutions for street lighting systems and the development in IoT technology in the field of smart lighting are expected to drive the growth of this market. Lack of awareness regarding installation costs and payback periods, and security and privacy issues regarding network connectivity are inhibiting the growth of the smart lighting market. The high growth of LED light source can be attributed to the fact that it offers a wide range of advantages over conventional light sources, such as low maintenance cost, longer endurance, low power consumption, and also the gradual decrease in price of LED components. The market in Euroe is expected to grow at a moderate rate in the overall market till 2022. The combination of multiple factors makes Europe the most dynamic region in the smart lighting market. The reason for Europe to be the leading market is because it is home to some of the top players in the smart lighting market such as Schneider Electric (News - Alert) SE (France), OSRAM Licht AG (Germany), Legrand SA (France), among others. Companies Mentioned:
Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Smart Lighting Market, By Light Source (News - Alert) 8 Smart Lighting Market, By Product Type 9 Smart Lighting Market, By Communication Technology 10 Smart Lighting Market, By Application 11 Smart Lighting Market, By Software & Service 12 Geographic Analysis 13 Competitive Landscape 14 Company Profiles 15 Appendix For more information on topics, check out the Internet of Things and M2M section of the Research and Markets' blog. For more information about this report visit http://www.researchandmarkets.com/research/cbx2nv/smart_lighting View source version on businesswire.com: http://www.businesswire.com/news/home/20161011005890/en/ |