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LED smart lighting to witness highest growth in LED segment: Study

LED smart lighting to witness highest growth in LED segment: Study

Jan 7, 2016: Persistence Market Research has predicted that LED smart lighting will witness the highest growth in the LED segment. Energy saving is one of the major concerns for state and national governments globally. Loss of energy through lighting has become national concern for governments. Smart lighting is a new innovation in lighting technology that is developed for energy efficiency.

This technology may include efficiency fixtures and automated controls lighting system that make adjustments according to conditions and requirements of the internal or external environment such as occupancy or availability of daylight. Lighting accounts for 20% to 50% of the global consumption of energy. So, it is essential to use limited electric energy to reduce energy consumption.

How it works

Market players have been introducing innovative lighting systems that help conserve energy. Smart lighting is a technology that uses intelligent light control system. Factors such as object movement, occupancy, color, temperature and availability of natural light helps smart lighting technology to perform efficiently.

This technology uses lighting control systems that deliver the required amount of light optimally. Smart lighting also entails technology that automatically performs various functions at a set time and under a given condition. Smart lighting technology provides highly flexible lighting at low energy consumption and cost.

In terms of performance and energy consumption, the global smart lighting market can be bifurcated into LED lamp, high intensity discharge lamps (HID), compact fluorescent lamps (CFL), fluorescent lamps and others. Currently, CFL leads the global market for smart lighting technology. However, LED lamps are expected to witness the highest growth during the forecast period.

Commercial and residential buildings are the major end-users of the smart lighting technology. Other major end-users of the technology include public and government buildings, and street lighting.

Driving factors

Consumer awareness about the importance of energy saving is driving demand for smart lighting technology globally. Globally, cost associated with lighting accounts for around 40% of total energy cost in the commercial and residential buildings.

Additionally, investment in improvement of infrastructure facility is estimated to result in increase in construction of roads, smart cities and commercial buildings. This, in turn, is likely to boost the demand for smart lighting technology.

The Government of UK?s investment for infrastructure development in the public sector is anticipated to rise by USD 4.9 billion to about USD 77.7 billion during 2013 to 2014 over the 2012 to 2013 period. It is further projected to increase to about USD 83.0 billion during 2014 to 2015.

Consumers are inclined to spend more on energy saving equipment, due to an increase in disposable income. This is further augmenting demand for smart lighting technology.

However, high costs associated with replacement of old appliances is likely to hamper the global smart lighting technology market, but at a very niche level.

Light manufacturing companies are compelled to introduce innovative lighting technology, especially in developing regions, due to rising demand and higher spending capacity for energy saving equipment by major end-users.

Largest potential markets

Europe accounts for the largest market share for smart lighting technology, followed by North America and Asia Pacific. The US is the largest consumer of smart lighting technology, led by increasing consumer awareness about the importance of energy saving. Europe is likely to maintain its dominance in smart lighting technology, while North America is anticipated to experience marginal growth during the forecast period. However, Asia Pacific is expected to witness the highest growth during the forecast period, due to rapid growth in infrastructure development in developing countries such as India and China.

Companies that offer smart lighting

Major companies operating in the global smart lighting technology market are Zumtobel AG, Lutron Electronics Company, Inc., Digital Lumens, Inc., Encelium Technologies, Inc., Legrand S.A., Acuity Brands, Inc., Honeywell International, Royal Philips Electronics N.V. and Osram Licht AG.

Source: Persistence Market Research

For more info: http://www.persistencemarketresearch.com/market-research/smart-lighting-market.asp

None of the facts and figures mentioned in the story have been created by BizLED.co.in. BizLED is not responsible for any factual errors.

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