Smart Lighting Market to Grow at 19.06% CAGR to 2020 Driven by EMEA

RnRMarketResearch.com adds Global Smart Lighting Market 2016-2020 latest research report, the analysts forecast global smart lighting market to grow at a CAGR of 19.06% during the period 2016-2020.

August 29, 2016 /MarketersMedia/ —

The global smart lighting market analyst says development of smart cities will be a key trend for market growth. The smart city concept is a set of connected solutions to improve the quality of life while forming a platform for information exchange through communication channels. Many governments worldwide are promoting the concept of smart cities and investing in projects such as smart street lighting, smart grids, urban mobility, and smart parking to ascertain economic growth in their countries. India’s Prime Minister Narendra Modi’s the Smart Cities Mission, the Dubai Plan 2021, US President Barack Obama’s Smart Cities Initiative, and projects in the UK, Asia, and Africa are some of the key examples of smart city development.

Complete report on smart lighting market spread across 70 pages, analyzing 5 major companies and providing 30 data exhibits are now available at http://www.rnrmarketresearch.com/global-smart-lighting-market-2016-2020-market-report.html

According to the smart lighting market report, one of the key drivers for market growth will be the shift in application of lighting. Governments worldwide promote smart lighting to reduce significant energy consumption, as lighting accounts for more than 20% of the global energy consumption. Furthermore, climatic changes, stringent regulations about emissions, and increasing the cost of electricity production due to increasing power consumption tariffs are some of the key contributing factors fueling the adoption of energy-efficient light sources such as smart lighting.

The smart lighting market study predicts that in terms of geographical regions, EMEA will dominate the market throughout the forecast period and will account for almost 41% of the total market shares by 2020. The increasing focus on improving the energy efficiency of products and in removing inefficient lamps from the European market will augment the growth of the market in this region. Germany is the largest market for smart LED in Europe, where infrastructure upgrades and the availability of good infrastructure and skilled labor will attract foreign investments to the market. Order a copy of Global smart lighting Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=672232

The following companies are the key players in the global smart lighting market: Acuity Brands, General Electric, OSRAM, and Schneider Electric. Other prominent vendors in the market are: Advanced Lighting Technology, Bridgelux, Cree, Dialight, Eaton, Emerson Electric, Everlight Electronics, MLS Electronics, and Toyoda Gosei.

The proliferation of smart lighting wireless networking technologies is driving the adoption of smart lighting across the globe. The next-generation lighting systems came into existence primarily because of the emergence of various wireless networking technologies such as Bluetooth, Wi-Fi, ZigBee, and Z-Wave. Lighting manufacturers utilize these wireless communication technologies to manufacture their connected devices and ecosystems.

Global Smart Lighting Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global smart lighting market for 2016-2020. The market size is calculated on the basis of revenue generated from the sales of new and replacement lamps in the smart lighting segment only.

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