Europe Smart Lighting Market – Size, Outlook, Trends, and Forecast (2024

Europe Smart Lighting Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Smart Lighting is a process of controlling the behaviour of light from longer distances. Enhancing technology has made use of smart lighting in various end-user applications. Wireless communication technology is used to operate the lighting devices from any place using sensors, transmitters, and detectors. Usage of smart devices in various sectors is to ensure energy efficiency compared to the ordinary lighting system. It can detect surroundings in an intelligent manner and acts according to it.

Europe Smart Lighting Market Size:

Europe Smart Lighting market value is projected to reach $XX billion by 2024 from $XX billion in the year 2017, with a CAGR of XX% during the forecast period. Government initiatives to transform normal cities into smart cities, increasing demand for smart lighting systems in streets, emergence for energy efficient lighting systems, reduction in the cost of LED’s, growing usage in industrial applications are the major factors influencing the market growth. Rise in the cost of installation, lack of awareness, incompatible wireless communication system, increasing security issues are the key facts hindering the market growth. Lack of reliable standards for efficient communication b/w IoT devices is the primary challenge faced by the market. Increasing development of IoT technology, advancements in wireless technology, expansion of smart cities are the greater opportunities available for the investors in the market.

Europe Smart Lighting Market Share:

Smart Lighting market is classified based on product type, applications, technology, end-user, and geography. On the basis of product type, the market is segmented as LED, Fluorescent lamps, and High-Intensity discharge lamps. Among these, High-intensity discharge lamps are accounted for the major share in the

Europe Smart Lighting Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

market owing to the increasing demand in stadiums, high-intensity bicycle lamps and also due to its advantages like better energy efficiency even after emitting light with high efficiency. LED smart lighting market is anticipated to dominate the total market regarding revenue during the smart lighting market forecast period as of its reduction in costs, increased efficiency, and growing adoption of LED’s across the globe. Based on application, the market is classified as Indoor and Outdoor applications. Out of these, the Indoor segment is expected to hold the dominant period. Increase in

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Europe Smart Lighting Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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