Europe Smart Lighting Market: Companies Profiles, Size, Share, Growth, Trends and Forecast to 2024
Europe Smart Lighting Market was over USD 2 billion in 2017 and is expected to exhibit a robust growth between 2018 and 2024 at a CAGR of around 20%
India – October 14, 2019 /MarketersMedia/ —
According to the Graphical Research new growth forecast report titled “Europe Smart Lighting Market analysis based on Component, Lighting Source, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 9 billion by 2024. The market growth is primarily attributed to the increasing uptake of smart lighting solutions for facilitating the government initiatives to develop highly connected infrastructure for smart city networks across Europe. The Humble Lamppost project allows Europe to save a total of USD 2.46 billion yearly on electricity as around 60 to 90 million 25-year-old street lights have been replaced with more efficient LED devices. Philips raised its investments in the European LED market from USD 285 million in 2014 to USD 342 million by 2018 with an aim to position itself in the European LED component industry.
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The commercial lighting segment held a majority share of around 40% in the Europe smart lighting market for indoor lighting applications in 2017. The growth of the market is driven by the growing demand for energy-efficient lighting solutions to reduce the energy consumption cost. The governments across European countries are restricting the use of low energy-efficient lighting solutions, such as incandescent and halogen lamps, in the commercial sector. The residential lighting market is projected to exhibit a robust growth at a CAGR of around 20% between 2018 and 2024. The growing awareness regarding the cost-benefits of energy-efficient LED lighting products in the residential sector is expected to fuel the market growth during the forecast period.
Some of the key vendors in the Europe smart lighting market are GE Lighting, Schneider Electric, Hubbell, Silver Spring Networks, Philips Lighting, Cooper Industries (Eaton), Acuity Brands, Bridgelux, Tvilight, Zumtobel, and Cree.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1023/europe-smart-lighting-market
The Europe smart lighting market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Segments we Cover:
Europe Smart Lighting Market Statistics, By Component
Product
Luminaires
Light Control
Technology
Wired
Wireless
Europe Smart Lighting Market Trends, By Lighting Source
LED
Fluorescent Lamp
CFL
HIDL
Europe Smart Lighting Market, By Application
Indoor Lighting
Outdoor Lighting
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1023/europe-smart-lighting-market
Source: MarketersMedia
Release ID: 88927751
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