TechNavio recognizes the following companies as the key players in Global Smart Lighting Market: OSRAM GmbH, Koninklijke Philips N.V., Samsung Electronics Co. Ltd., and Zumtobel Lighting GmbH.
Commenting on the report, an analyst from TechNavio’s team said: “One of the major trends that is expected to exert a positive influence on the Global Smart Lighting market is the rapid technological advancements. The continuous technological advancements in the design and development of smart lighting systems have increased their power-efficiency and expanded their application in a wide number of applications. In addition, these advancements have led to the development of advanced and highly efficient lighting systems. Therefore, rapid technological advancements taking place in the market have increased the smart lighting system applications across the globe.”
According to the report, there are many drivers contributing to the growth of the Global Smart Lighting market, the most important of which is the increasing demand for energy-efficient lighting from industries worldwide. The growing concerns over the scarcity of power derived from non-renewable resources, and the increasing need to minimize power consumption while expanding industrial applications for lighting are some of the major factors driving the demand for LEDs in the market.
Further, the report states that one of the key challenges in the market is the expensive replacement program of lighting. The cost required for replacing traditional lighting systems with smart lighting systems is very high as a large sum of capital has to be invested in labor, lighting, and servicing.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-smart-lighting-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report – Global Smart Lighting Market 2014-2018
