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Smart Lighting Market Share

Report ID: GMI413
Published Date: Jul 2024
Report Format: PDF

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Smart Lighting Market Share

Signify Holding and Acuity Brands Lighting Inc. hold a significant share of over 15% in the market. Major companies like Signify Holding, Acuity Brands Lighting Inc., OSRAM Licht Group, and Schneider Electric Software LLC dominate the market, due to their extensive product portfolios, strong brand recognition and global reach. These industry leaders leverage advanced R&D capabilities to introduce cutting-edge smart lighting solutions. They integrate IoT technologies energy-efficient systems and seamless connectivity. Strategic partnerships allow them to capture significant market share and maintain a competitive edge.

Moreover, the smart lighting sector is witnessing substantial contributions from emerging companies and niche players focused on specialized solutions. These companies are driving innovation through unique product offerings. Examples include advanced lighting controls, personalized lighting environments and integrated smart home ecosystems. Competitive dynamics are further intensified by strategic mergers, acquisitions and collaborations, such strategies enable companies to expand their technological capabilities and market presence.

Smart Lighting Market Companies

Major players operating in the smart lighting industry are:

Signify Holding
Acuity Brands Lighting Inc.
OSRAM Licht Group
Schneider Electric Software LLC
Honeywell International Inc.
Lutron Electronics Co. Inc.
Cooper Industries Inc. (Eaton)

Authors: Suraj Gujar, Kanhaiya Kathoke

Frequently Asked Questions (FAQ) :

Market size for smart lighting crossed USD 14 billion in 2023 and is expected to register over 15% CAGR from 2024-2032 owing to the proliferation of smart city projects across the globe

The hardware component segment in the smart lighting industry is expected to register over 15% CAGR from 2024-2032 due to rising integration with the Internet of Things (IoT)

Asia Pacific industry is expected to register over 17% CAGR from 2024-2032 due to the rapid urbanization and infrastructure development

Signify Holding, ams – OSRAM, Hubbell Incorporated, Legrand SA, Cooper Industries Inc. (Eaton), Acuity Brands Lighting Inc., and Schneider Electric SE are some of the major smart lighting companies worldwide.