The key factors driving the smart lighting market include growing awareness towards energy conservation, the long life span of LEDs and OLEDs, the rising popularity of wireless technology coupled with changing lifestyle, and decreasing price of LED lighting. At present, light is considered to consume approximately 20% of electricity production and 5% of CO2 emissions globally. At the same time, traditional lighting is accounted for the majority of electricity production in comparison to the latest LED lighting technology. Philips Lighting, subsidiary of Koninklijke Phillips NV has committed to becoming carbon neutral in the next few years. Philips is popular for making sustainable innovation for a healthier globe. Philips a global leader in lighting and smart lighting markets. In the recent past, Philips has received several projects for smart lighting, thereby promoting the adoption of smart lighting solutions worldwide.

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Smart lightning components manufacturer is developing the components that would make it simpler to govern light fixtures or regulate light color from a mobile device or computers. These control products exist in the market already; however, companies that include, semiconductor firm Marvell along with LED manufacturer Bridgelux, are designing a technology to lower down the cost in commercial and consumer lighting. Every region worldwide project a different picture of the smart lighting market.

The smart lighting market is segmented based on the application, i.e. industrial lighting, residential lighting, government, automotive lighting, and outdoor lighting. The industrial segment is expected to have a prominent market share during the forecast period. The growth in urbanization has led to a dramatic transformation in the industrial growth rate. Today the corporate offices and manufacturing industries and factory workshop are focusing upon the infrastructure of the building in order to provide its employees and work with a safe and user-friendly environment. The trend alert says that offices are looking for such technology that would not only adjust the luminosity of the lights but also provide the users with real-time information like number people in the office or workplace, weather forecast, vacancy detection, and several similar facilities.

The key companies profiled in this report include Acuity Brands Lighting Inc., Daintree Networks, Inc., Digital Lumens, Inc., Eaton Corporation Plc, General Electric, Legrand SA, Lutron Electronics, Inc., OSRAM GmbH, Koninklijke Philips N.V., and Sensity Systems, Inc.