Trend Analysis of intelligent lighting market from 2018 to 2024

by:ALLTOP      2020-02-23
As intelligent lighting provides many key advantages for residential, industrial, commercial and government departments, including energy efficiency, reduced maintenance costs, enhanced asset safety and ease of use. Through them, users can remotely access the lighting system anytime and anywhere through smart phone applications. In the smart city infrastructure, operators can actively predict the demand for street lamp replacement. According to relevant data, the smart lighting market is expected to be 6 billion US dollars in 2018, the annual compound growth rate will exceed 20 between 2024 and 2018. The scale of intelligent lighting market in 2017 and 2024, and the increasing demand for reducing energy consumption in residential and industrial fields are a major feature of the continuous development of energy-saving lighting systems. Energy-saving LED lighting systems can reduce energy costs for residential customers, thus reducing the impact of increasing tariffs on them. For industrial customers, these lighting systems can reduce power supply costs and peak load. The initiative to develop smart cities advocated by governments around the world is a major factor in the growing number of intelligent lighting solutions. It is expected that the networked lighting system will become one of the important components of the smart city infrastructure, mainly to achieve the sustainable development goals of the project. With the continuous optimization of urban energy consumption by lighting systems, the self-sustainability and growth of urban economy can be greatly accelerated. From the perspective of components, intelligent lighting products began to dominate the market in 2017 due to the large-scale installation of lighting systems in residential and commercial sectors. It is mainly driven by the convenience of remote operation of intelligent lighting lamps and the customized options available in the lighting system. As companies have been introducing new products for the residential market, the number of these installations is expected to increase significantly during the forecast period. In the product market, lamps are expected to show a fast adoption rate in the forecast period; However, due to the rapid development of intelligent bulb and lamp technology, it will eventually occupy a major share of the intelligent lighting market in 2024. As companies offer a variety of innovative smart bulbs and lamps at competitive prices, these lamp devices are expected to increase rapidly between 2024 and 2018. 2024 intelligent lighting market cable technology field is expected to will possession more than 60 of market share. Because the technology can provide high reliability and control of the lighting system, for different modes (Such as DALI and PoE) The demand for is likely to increase significantly between 2018 and 2024. On the other hand, Bluetooth, Zigbee and Wi- Advances in wireless technologies such as Fi and the increasing use of IoT smart sensors in smart city applications are expected to accelerate the growth of the wireless communication technology market in the forecast period. From the perspective of light sources, LED is expected to occupy a major share of the intelligent lighting market in 2024, reaching more than 60. As LED technology has become a cost-effective and energy-saving alternative to traditional incandescent lighting systems, the application of LED bulbs has increased rapidly in the past five years. In addition, the LED market is expected to show a strong growth trend in the forecast period due to government subsidies and rebates for purchasing LED bulbs in various countries including China, India and the United States. From the perspective of application, due to the high popularity of networked lighting systems, especially in residential and commercial applications, indoor lighting applications accounted for the dominant share of the intelligent lighting market in 2017. As customers in the residential market become more aware of the benefits of intelligent lighting systems in reducing electricity bills, the demand for this lighting solution for home and building automation systems may grow rapidly during the forecast period. From 2018 to 2024, the annual compound growth rate of outdoor lighting market is expected to exceed 25. The main feature of the rapid growth is the increasing demand for intelligent street lamp systems. Since these systems can intelligently turn on/off lighting systems based on traffic and availability of natural light, significant energy savings can be achieved through deployment. Smart city projects can also benefit from these smart lamps to achieve their energy security and sustainable development goals. From a regional perspective, the European market is expected to account for a large share of the smart lighting market in 2024. Most of the reasons are mainly due to a large number of ongoing smart city projects, the vigorous deployment of intelligent lighting systems by the government, residential and commercial sectors, and the strict energy efficiency requirements for lighting systems issued by the government. It is expected that the intelligent lighting market in the Asia-Pacific region will show rapid growth during the forecast period. The government's initiative to encourage the adoption of energy-saving lighting systems is expected to become the main driving force for the growth of the smart lighting market in the region. For example, the UJALA program implemented by the Indian government is committed to raising consumers' awareness of the efficacy of energy-saving LED lamps. According to the plan, consumers can purchase LED through EMI payment mode. In the future, intelligent lighting will provide many key advantages for residential, industrial, commercial and government departments, including energy efficiency, reduced maintenance costs, enhanced asset safety and ease of use. Through them, users can remotely access the lighting system anytime and anywhere through smart phone applications. In the smart city infrastructure, operators can actively predict the demand for street lamp replacement and power outages, and can improve on-site efficiency. By utilizing LED lighting, connectivity, sensors and control, as well as analysis and intelligence, enterprises can successfully achieve low power costs. The main focus of enterprises in the intelligent lighting market is product innovation and new product development strategy. Major enterprises are investing heavily in the research and development of intelligent lighting technology to launch networked lighting solutions for applications such as home and building automation, smart cities and intelligent street lamps. In addition, strategic cooperation to strengthen product development capability and expand regional market share is also conducive to rapid innovation in the intelligent lighting industry.
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