The global smart lighting market size was valued at USD 10.9 billion in 2021. It is projected to reach USD 27.7 billion by 2026, growing at a compound annual growth rate (CAGR) of 20.5% during the forecast period.
It was observed that the
growth rate was 16.7% from 2021 to 2022. In recent years, the market for smart
lighting has experienced significant growth, primarily due to the ongoing and
upcoming smart city projects in developing economies, improved acceptance of
standard protocols for lighting control systems, and the introduction of new
features such as data analytics and API event generation.
In Installation type,
the new installations segment to hold larger market size during the forecast
period
New installations refer
to the installation of new lighting systems comprising new-generation LED
drivers and ballasts, sensors, switches, dimmers, and gateways.
Unlike retrofit
installations, new installations completely replace a traditional lighting
system after fully phasing out the lamp and its assorted controls and fixtures
with new lamps and associated controls and fixtures. With a new installation,
the whole system is changed and updated with new and latest equipment with a
whole new setup. New installations are most likely to be used in new
construction in commercial, industrial, and residential spaces. It can also be
used in outdoor spaces where traditional lighting systems were used.
Lighting controls
segment to register a higher CAGR during the forecast period
The Lighting controls
segment is expected to exhibit a higher CAGR during the forecast period.
Lighting controls are the base of the whole smart lighting system and are thus
a major part of the smart lighting industry.
The growth of the
segment can be attributed to the increasing technological advancement and
ever-changing controls in smart lighting solutions. Lighting controls provide
advanced lighting functionalities with standard protocols and distributed
control systems. These controls enable intelligence in lighting products such
as LEDs and HIDs. Lighting controls consist of LED drivers and ballasts,
sensors, switches, dimmers, relay units, and gateways.
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ZigBee expected to
dominate the smart lighting market for wireless communication technology during
the forecast period
The market for ZigBee
protocol is expected to grow at the highest CAGR during the forecast period.
The technology is
designed to be a low power, low data rate, proximity wireless mesh network
protocol, with the intention of being simpler and less expensive than other
wireless network protocols. The increasing adoption of smart homes is likely to
create demand for the ZigBee protocol. ZigBee is a wireless technology
developed as an open global standard to address the unique needs of low-cost,
low-power, wireless IoT networks.
The protocol is based on
the IEEE's 802.15.4 personal-area network standard. A key component of the
ZigBee protocol is the ability to support mesh networking. In a mesh network,
nodes are interconnected with other nodes so that multiple pathways connect to
each node. Connections between nodes are dynamically updated and optimized
through a sophisticated, built-in mesh routing table. The protocol allows the
deployment of wireless networks with low-cost, low-power solutions.
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