Research Nester assesses the growth and market size of global connected lighting platform market which is anticipated to be on account of the increasing adoption of Internet of Things and smart infrastructure.
Research Nester’s recent market research analysis on “Connected Lighting Platform Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global connected lighting platform market in terms of market segmentation by component, connectivity, application, and by region.
Increasing Adoption of Smart Homes to Promote Global Market Share of Connected Lighting Platform
The growth of the market is due to the deployment of energy-efficient lighting solutions. Smart lighting solutions have been rapidly adopted to meet an urgent need for energy efficiency and environmental sustainability. These systems enable precise control of lighting levels with regard to room occupancy and natural daylight availability, which leads to substantial energy savings. By 2020, the European Union (EU) promised to reduce energy usage by 20% from baseline predictions.
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In addition, the lighting system is interconnected to the Internet in a wide way through wireless technology that allows remote control and monitoring. Bluetooth technology, making it easy for mobile devices to control and configure lights, is a common feature of indoor lighting systems. In order to grow in the market, intelligent home products such as lighting systems are being used on a regular basis by Zigbee technology. Also, use of voice to control lights through an integration with a platform like Google Assistant, Amazon Alexa, Apple Siri or Microsoft Cortana.
Some of the major growth factors and challenges that are associated with the growth of the global connected lighting platform market are:
Growth Drivers:
• Surge in Adoption of Smart Infrastructure and Internet of things
• Rising Adoption of Connected Stadium Lights
Challenges:
The significant early capital investment, together with continued support and maintenance costs are a problem for stakeholders because of the high cost of first installing connected lighting systems. This will result in increased capital expenditure and support staff expenses to carry out the required maintenance and upgrades, which is a handicap for market growth. High cost and interoperability issues are some of the major factors anticipated to hamper the global market size of connected lighting platforms.
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By component, the global connected lighting platform market is segmented into hardware, software, and services. The hardware segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The growing popularity of connected lighting devices and fixtures that can change color, dim light or turn them on using a control device such as a mobile phone or tablet is reflected in the hardware demand segment. A total of 6.8 billion mobile phone users are now in the world. Given the world's population is in excess of 8 billion, this would mean a 75 % penetration rate for smartphones.
By region, the Asia Pacific connected lighting platform market is to generate the highest revenue by the end of 2036. The growth is on account of the strong demand for commercial and residential applications. China is expected to emerge as the largest revenue contributor and dominant market share holder in the world. Due to their growing economies and increasing investments in Smart city projects, the countries expected to be at the forefront of the adoption of this kind of lighting are Japan, India as well and South Korea. The evolving scenario of illumination in industries is an important influence on the demand for smart lights in the Asia Pacific region. There is a new demand for smart lighting due to the increasing construction of commercial buildings for offices, retail, and entertainment.

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This report also provides the existing competitive scenario of some of the key players of the global connected lighting platform market which includes company profiling of Samsung Electronics, IKEA, Schneider Electric, Echelon Corporation, Lutron Electronics Co. Inc, Signify Japan LLC, and others.
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