The Smart Lighting Market size is expected to Reach USD 68.53 Billion by 2028, Registering to Accelerate at a 20.4% CAGR, According to the most recent study by Brandessence Market Research & Consulting Pvt ltd.
The Global Smart Lighting Market size was Valued at USD 15.52 Billion in 2021. Increasing demand for energy-efficient lighting solutions coupled with government initiatives to reduce energy consumption is anticipated to drive the growth of the Global Market.
Factors like the rising demand for the intelligent systems of street lighting, rising need for the energy-efficient systems of lighting and the higher penetration of the LED lightings and bulbs will drive the global smart lighting market locally. But it is the higher cost of installation and maintenance of the smart lighting systems will be hampering the growth of the global smart lighting market. Moreover, the advancements in the wireless technology and the development of projects such as the smart city projects which exist particularly in the developing countries and the emerging IOT technologies. This is providing the lucrative opportunities for the global growth of the smart lighting market.
We’re professional manufacture of LED lights for commercial refrigeration/ under shelf/ cabinet system. Smart lighting is a trend, and we will also work hard to develop smart LED lighting in the future.