The global smart lighting market size is expected to reach USD 18.0 billion by 2029 from USD 9.5 billion in 2024, growing at a CAGR of 13.8% during the 2024-2029 period.

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Smart lighting, characterized by its ability to be controlled remotely-often through smartphone applications-offers a plethora of features including timers, schedules, motion detection, voice commands, and color adjustments. Rooted in the concept of self-monitoring, analysis, and reporting technology (SMART), smart lighting systems are engineered to transcend the basic functionality of illumination. They enhance security, safety, convenience, health, wellness, and energy efficiency. Moreover, these systems seamlessly integrate with other smart home devices and can be managed through various wireless transmissions, such as Wi-Fi radios and Bluetooth. The anticipated significant growth of the smart lighting market in the upcoming years is fuelled by the escalating popularity and acceptance of smart home technology.

Driver: Maximizing efficiency with IoT-integrated smart lighting solutions

Smart lighting leverages IoT-enabled sensors, bulbs, or adapters, empowering users to effortlessly manage their home or office lighting through their smartphone or smart home management platform. These solutions offer versatile control options, allowing users to operate them via external devices like smartphones or smart assistants, set schedules, or activate them based on sound or motion triggers.

According to IBM, the day-to-day operational expenses of a building constitute 70 percent of its total cost throughout its lifespan, encompassing basic utilities such as energy and water. These costs present significant opportunities for optimization through IoT technology.

Restraint: Security risks associated with internet-connected lighting systems

In connected lighting systems, wireless networks serve as the foundation for linking various components within the lighting control infrastructure. Connected lights consist of advanced LED fixtures equipped with integrated sensors and cameras, all interconnected through a wireless network. Data and information are typically stored in the cloud for remote accessibility.

However, the reliance on internet connectivity in connected or smart lighting products introduces security vulnerabilities that can be exploited by hackers. Such breaches could lead to severe consequences, including unauthorized access to control systems for lighting, door locks, and security cameras. The potential for intruders to manipulate smart systems in homes or public venues raises significant security and privacy concerns.

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Opportunity: Rising demand for PoE-based lighting solution in healthcare and commercial application

Power over Ethernet (PoE) streamlines the provision of power and network connectivity to devices via a single network cable. PoE solutions simplify and reduce the cost of network installation and expansion in buildings where installing new power lines is impractical or costly. These solutions alleviate congestion for organizations, as they eliminate the need for significant budget allocations to enhance operational capabilities.

Commercial buildings, including office spaces, warehouses, and retail establishments, are increasingly embracing PoE-enabled solutions due to their numerous benefits. These include cost savings in installation, reduced overall design and construction expenses, and minimized labor efforts by decreasing the quantity of Ethernet cables required. According to the University of Michigan, the anticipated expansion of commercial building floor space in the US holds substantial promise for PoE lighting vendors, presenting opportunities for manufacturers in the connected lighting sector.

Challenge: Interoperability challenge between multiple network components

The central challenge within the lighting control system sector revolves around the availability of solutions that integrate multiple interoperable technologies within a unified framework. End users grapple with selecting an appropriate lighting control solution from a wide range of options, compounded by the absence of standardized norms, which complicates the integration process. The absence of uniform standards gives rise to compatibility issues among disparate components, impeding seamless interoperability and communication within lighting systems.

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