Researchers at Infoholic are predicting that the smart commercial lighting market will be worth $48.12 billion by 2022, presenting a great opportunity for installers. The rise of the commercial lighting market is being put down to the emergence of smart cities, demand for green buildings, government initiatives, awareness about energy efficiency and demand for IoT-based solutions in general.
The smart commercial lighting solutions currently available on the marketplace can automatically self-adjust to the time of the day (i.e daylight simulation lighting), while traditional lighting systems require manual adjustment. These automatic systems have grown rapidly in popularity as it helps with seasonal depressions and reduces power consumption bills in hospitals, offices and educational institutions.
The market is poised for exuberant growth driven by the need for energy efficiency, adherence to energy regulations and environmental standards. Government bodies and energy regulators worldwide are concerned about energy conservation. The rising number of smart cities will continue to generate demand for smart commercial lighting products. APAC region would experience buoyant growth in the forecast period, driven by the infrastructure building activities occurring in the region. The market growth is however restricted by high costs, cyber threat and lack of awareness among people.
The market is segmented and studied by the following geographies- Americas, Europe, Asia-Pacific and Middle East and Africa (MEA). Each geographical region is further segmented and analysed by connectivity technologies, leading countries and lighting lamps. Rising number of smart cities and green buildings in the Americas and Europe make these two regions the prime market for smart commercial lighting.
The market has also been considered by connectivity technologies (ZigBee, Wi-Fi, Bluetooth, EnOcean, Z-Wave), types of lighting lamps (High Intensity Discharge (HID) Lamps, Light Emitting Diode (LED) Lamps, Fluorescent Lamps, Compact Fluorescent Lamps (CFL)). ZigBee and Wi-Fi network technologies dominate the smart commercial lighting market.
The key market participants are Koninklijke Philips N.V, GE Lighting, Cyan Technologies Plc., Acuity Brands Lighting, Inc., John Cullen Lighting. Philips is a leading vendor in the market and Philips LED lights and lighting products are popularly used across diverse verticals. They have a range of products for commercial and industrial usage across different end users namely Philips commercial lighting and Philips industrial lighting.
Healthcare, office and educational institutions, infrastructure (roadways, railways, airports, sea ports), retail, sports stadium, are the major application verticals.
“Globally, retail and healthcare will be the leading industry verticals which will spend generously on smart commercial lighting products. Smart CFL and LED lighting lamps will slowly replace the global outdoor lighting such as street lighting and in sports stadiums within the next couple of years,” says Jaydeep Bhattacharjee, group head at Infoholic Research.