How big is the Smart Lighting Market?

The Smart Lighting Market size is expected to reach USD 19.65 billion in 2024 and grow at a CAGR of 18.94% to reach USD 46.79 billion by 2029. Read More

What is the current Smart Lighting Market size?

In 2024, the Smart Lighting Market size is expected to reach USD 19.65 billion. Read More

Who are the key players in Smart Lighting Market?

Signify Holding, Control4 Corp. (Snap One LLC), Lutron Electronics Co. Inc, Wyze Labs Inc. and Sengled are the major companies operating in the Smart Lighting Market. Read More

Which is the fastest growing region in Smart Lighting Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Lighting Market?

In 2024, the Europe accounts for the largest market share in Smart Lighting Market. Read More

What years does this Smart Lighting Market cover, and what was the market size in 2023?

In 2023, the Smart Lighting Market size was estimated at USD 15.93 billion. The report covers the Smart Lighting Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Lighting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the challenges facing the Smart Lighting Market?

The major challenges faced by the Smart Lighting Market are: a) High initial installation costs b) Privacy and security concerns related to IoT devices c) Lack of standardized protocols d) Lack of awareness regarding selection and installation of products Read More

Smart Lighting Market Share

Statistics for the 2023 & 2024 Smart Lighting market share, created by Mordor Intelligence™ Industry Reports. Smart Lighting share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Smart Lighting Industry

The smart lighting market is highly competitive and consists of several major players. However, many companies are increasing their market presence with smart lighting by securing new contracts and acquiring other companies. Signify Holding, Control4 Corp. (Snap One LLC), Wyze Labs Inc., Eaton Corporation, and Savant are key players.

In February 2023, Signify helped the German municipality of Eichenzell become a future-proof smart city through intelligent street lighting. Its BrightSites solution brings fast, wireless broadband connectivity to the city, allowing Eichenzell to cater to next-generation IoT applications and future 5G densification. Signify installed LED lighting, which the Interact City System manages. Eichenzell can continuously monitor and manage all lights from a single dashboard.

In January 2023, Savant company GE Lighting announced the expansion of its smart home ecosystem, Cync. Cync unveiled its entire Dynamic Effects entertainment lineup, which includes 16 million colors, pre-set and custom light shows, on-device music syncing, and other features. In addition, following a successful launch last year, Cync has expanded its Wafer light fixture line.