Smart Lighting Market Predicted to Reach $48.12 Billion by 2022

A report from analyst Infoholic Research pegs the emergence of smart cities, demand for green buildings, government initiatives, awareness about energy efficiency and demand for IoT-based solutions as the key drivers that “will ensure a high growth trajectory for the smart commercial lighting market during the forecast period.” Market growth, however, may be restricted by high costs, cyber threat and lack of awareness among people.

The market was segmented and studied by the following geographies: Americas, Europe, Asia-Pacific and Middle East and Africa. Each geographical region is further segmented and analyzed by connectivity technologies, leading countries and lighting lamps. The 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) and lamp type including HID, LED, fluorescent and CFL. The report identifies healthcare, office and educational institutions, infrastructure, retail, and sports stadiums as the major application verticals.

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