Smart Lighting Market 2021 Precise Outlook – Control4 Corp., Lutron Electronics Co. Inc., Signify Holdings, Wyze Labs Inc.
tanmayMay 15, 2021
The
Smart Lighting Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
“The Smart Lighting Market Market was valued at USD 16.2 billion in 2020 and is expected to reach USD 74.30 billion by 2026, at a
Global Smart Lighting Market Overview
Smart light technology is trending profusely, garnering significant popularity in businesses and homes worldwide. With its enhanced versatility and minimal energy conservation, smart lighting systems allow users to customize illumination based on their personal needs.
Smart lighting technology offers easy, convenient operation, efficiency, and security working with effective automated controls that change depending on different conditions. Owing to its advantages such as reduced energy usage, enhanced security, long life span, easy customization, smart lighting systems are garnering significant market prominence. Subsequently, the smart lighting market is garnering significant traction worldwide.
According to Market Research Future, the global smart lighting market size is expected to touch approximately USD 25 billion by 2027, growing at a 27% CAGR during the forecast period (2017-2027).