The continuously decreasing average selling price of LED lighting, burning issue of global energy crisis, and evolution of the smart homes market, along with the customization benefits are the key drivers of the global smart light fixture and control market. The changing paradigm of lighting industry to electronics industry is promoting growth of the market. The scenario of lighting industry has been completely transformed, with the establishment of modern technologies in it. The smart lighting industry not only involves the lamps, but also the sensors that gather and transfer the information. Then the information is delivered to the software for generating a suitable response, which could be dimming the illumination, change in color, and switching on or off. Asia-Pacific dominated the global smart light fixture and control market in 2014 and is expected to maintain its dominance, in the forecast period. The lack of standards and the associated interoperability issues, and high replacement costs from existing solutions to smart lighting, are some of the major factors restraining the growth of the smart light fixture and control market.
Smart Light Fixture and Control Market
The smart light fixture and control market include light emitting diode (LED) lighting, fluorescent light, compact fluorescent light, high intensity discharge lamps, and plasma lamps. LED lighting accounts for the highest share, in all the regions.
A smart home is equipped with special connected platform enabling its residents to control and program, an array of automated home electronic devices with the help of a remote. Segments such as energy management system, and security and access control systems are driving the smart homes market. The market had already progressed well in the developed countries, and it is expected to grow in the developing nations, during the forecasted period due to the regulatory initiatives from various governments and increased consumer interest in reducing the energy consumption. One of the major reasons of the smart home market growth is the entrance of the leading players in the smart home market, such as Google Inc. and Microsoft Corporation, offering applications and operating systems, while the appliance manufacturers, such as Koninklijke Philips NV and LG Electronics Inc. providing smart home devices. The customization benefits provided to the smart home consumers are another driver, which is leading the shift towards smart home technology.
Standardization of light engines is one of the major trends seen in the global smart light fixture and control market. Standardization of light engines such as Zhaga is a key trend in the smart light fixture and control market. Zhaga is the light engine standardization, which develops specifications that enable the interchangeability of LED light sources, made by different manufacturers and its members include hundreds of companies throughout the global lighting industry. Standardization has various benefits, such as increasing the usability and availability of light engines, allowing manufacturers to scale their production lines and volume output on a defined set of parameters, and many more.
The major companies operating in the global smart light fixture and control market include Acuity Brands Inc., Lutron Electronics Co. Inc., Control4 Corporation, ams AG, OSRAM Light AG, Zumtobel Group AG, Koninklijke Philips N.V., Leviton Manufacturing Co. Inc., CommScope Holding Company Inc., and NXP Semiconductors.
Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market Uncovers potential demands in the market Porter analysis identifies competitive forces within the market Provides information on the historical and current market size and the future potential of the market Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable) Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.
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