The overall smart lighting market is estimated to grow from USD 7.93 Billion in 2018 to USD 20.98 Billion by 2023, at a CAGR of 21.50% between 2018 and 2023. The most significant factor driving the growth of this market is the requirement of energy-efficient lighting systems. This requirement is attributed to the increased awareness about the need to reduce energy consumption. Modernization and development of infrastructure to transform cities into smart cities, increased demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems, increasing adoption and decreasing cost of LEDs, and growing awareness about energy savings among consumers and governments worldwide are the major factors contributing to the growth of the smart lighting market.
Some of the major players in the smart lighting market are Philips Lighting (Netherlands), Hafele Group (Germany), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell Lighting (US), Zumtobel Group (Austria), Honeywell (US), Legrand (France), Eaton (Ireland), Lutron Electronics (US), and General Electric (US).
Philips Lighting (Netherlands) ranked first in the smart lighting market in 2017. Philips has been a leader in general lighting for a long time and has an extensive array of products that are used in residential, commercial, street lighting, and highway and tunnel lighting applications. Its extensive product portfolio including the lighting systems compatible with various connecting technologies, ranging from DALI, KNX, and BACnet to ZigBee and EnOcean, gives it a competitive edge over its competitors. Through its Philips Dynalite solutions range, Philips has been able to provide a one-switch solution for complete home automation, which includes intelligent control of lighting, HVAC, audio, and home entertainment systems through a single switch. Moreover, it has launched several products based on smart lighting technology and is regarded as an innovator in this domain. In April 2015, Philips Lighting launched a new technology to enable city authorities to retrofit existing LED street lights with its CityTouch connector node for the remote management of the existing lighting systems. CityTouch is a plug and play system that uses the cellular network to connect LED street lights offered by any manufacturer. Philips has been able to integrate its smart lighting technology with the current mobile and personal computing technology by launching a web-enabled LED light bulb named Hue, which can be controlled via a mobile app through smartphones and tablet PCs. In March 2016, Smartworld, a joint venture of Etisalat and Dubai South, collaborated with Philips Lighting and Cisco to create a smart, secure, and connected indoor space at its new headquarters in Dubai South. This collaboration brings an advanced LED-connected lighting system of Philips Lighting and secure IT network of Cisco (US) together.
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Acuity Brands (US) ranked second in this market in 2017. It develops lighting control products under brand names such as Lighting Control & Design, ROAM, Sensor Switch, and Synergy. It manufactures lighting fixtures, control systems, and components, with a primary focus on the LED technology. It is also one of the leading lighting service providers in the market, and its offerings help convert the general lighting systems into intelligent lighting networks through retrofits. It has a range of both wired and wireless lighting products used in applications ranging from street light, retail, residential, and architectural. Its recent acquisition of Adura Technologies, Inc. (US) has helped it become one of the leading players in the wireless smart lighting market. Moreover, in July 2016, Acuity Brands acquired DGLogik, Inc. (US), a provider of innovative software solutions and Internet of Things (IoT) technology.
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