According to IMARC Group latest report titled “North America Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on smart lighting market in North America. The report also includes competitor and regional analysis, and contemporary advancements in the market. The North America smart lighting market reached a value of US$ 3,766 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 17.1% during 2021-2026.
Smart lighting represents an energy-efficient lighting solution with power-saving features and automated controls for smooth operations. It involves the utilization of software, mobile applications, and smart home assistant devices for controlling lighting systems. In line with this, smart lighting enables the user to change the light intensity depending on parameters, such as occupancy or daylight availability. It is extensively used as an alternative to conventional lighting systems, including halogens, incandescent bulbs, compact fluorescent lamps (CFLs), etc. These solutions offer personalized lights for occasions, enhanced security, convenience, longer lifespan, etc. Smart lighting aids in enhancing the aesthetic appearance of a space in a cost-efficient manner.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rising focus on sustainable development is primarily augmenting the North America smart lighting market. Furthermore, the launch of numerous favorable initiatives by government bodies for the installation of energy-efficient street lighting solutions is also positively influencing the regional market. Apart from this, the shifting consumer lifestyle preferences and the inflating disposable income levels of individuals are acting as significant growth-inducing factors. Moreover, several technological advancements, such as the increasing integration of artificial intelligence (AI) and the Internet of Things (IoT) technologies with lighting systems, are also bolstering the market growth. Besides this, the growing investments by private and public agencies in infrastructural development projects are further catalyzing the market growth across North America. Additionally, extensive R&D activities conducted by key market players to introduce improved product variants are expected to fuel the North America smart lighting market in the coming years.
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North America Smart Lighting Market Segmentation:
Our report has categorized the market based on region, offering, communication technology, installation type, light source and application.
Key Regions Analysed:
- United States
- Canada
- Mexico
Market by Offering:
- Hardware
- Lights and Luminaires
- Lighting Controls
- Software
- Services
- Design and Engineering
- Installation
- Post-Installation
Market by Communication Technology:
- Wired Technology
- Wireless Technology
Market by Installation Type:
- New Installation
- Retrofit Installation
Market by Light Source:
- LED Lamps
- Fluorescent Lamps
- Compact Fluorescent Lamps
- High Intensity Discharge Lamps
- Others
Market by Application:
- Commercial
- Residential
- Public Infrastructure
- Others
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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