Global intelligent lighting market trend analysis from 2018 to 2024
Intelligent lighting provides many key advantages for residential, industrial, commercial and government departments, including energy efficiency, reduced maintenance costs, enhanced asset safety and convenience. Through them, users can access the lighting system anytime and anywhere through smart phone applications. In smart city infrastructure, operators can actively predict the demand for street light replacement, according to the relevant data, the global smart lighting market in 2018 is expected to be $6 billion, and the annual average annual growth rate will exceed 20% in the period of 2018 to 2024. In 2017 and 2024, the increasing demand for energy consumption in the residential and industrial fields of intelligent lighting market is a major feature of the continuous development of energy saving lighting system. The energy-efficient LED lighting system can reduce energy costs for residential customers, thereby reducing the impact of increasing tariffs on them. For industrial customers, these lighting systems can reduce power supply costs and reduce peak load. Initiatives taken by governments around the world to develop smart cities are a growing factor in smart lighting solutions. It is expected that the networking lighting system will become one of the most important components of the smart city infrastructure, mainly to achieve the goal of sustainable development of the project. With the continuous optimization of urban energy consumption by lighting systems, the self sustainability and growth of the urban economy can be greatly accelerated. From the perspective of components, intelligent lighting products began to dominate the market in 2017 due to the large-scale installation of lighting systems in residential and commercial sectors. It is mainly driven by the convenience of remote operation intelligent lighting and the customizable options available to the lighting system. As companies have been launching new products for the residential market, these installations are expected to increase substantially during the forecast period. In the product market, the lamps and lanterns are expected to present the fastest adoption rate in the forecast period, and the smart light bulbs and the rapid development of lamps and lanterns will eventually occupy the main share of the intelligent lighting market in 2024. These lamps and lanterns are expected to increase rapidly between 2018 and 2024 as companies offer innovative smart bulbs and lamps and lanterns at a very competitive price. In 2024, the field of wired technology in the intelligent lighting market is expected to occupy more than 60% of the market share. Because the technology provides high reliability and control of lighting systems, the demand for different patterns (such as DALI and PoE) may increase significantly between 2018 and 2024. On the other hand, the progress of wireless technology such as Bluetooth, Zigbee and Wi-Fi, and the increasing use of intelligent sensor in the intelligent city application are expected to accelerate the growth of the wireless communication technology market in the forecast period. Judging from the light source, the LED part is expected to occupy the main share of the intelligent lighting market in 2024, reaching over 60%. As the LED technology has become an efficient and energy-efficient alternative to the traditional incandescent lighting system, the application of LED bulbs has increased rapidly over the past five years. In addition, as a result of government subsidies and the purchase of LED bulbs in countries including China, India and the United States, the LED market is expected to show a strong growth trend in the forecast period. In terms of application, because of the high popularity of networked lighting systems, especially in residential and commercial applications, indoor lighting is the dominant share of the intelligent lighting market in 2017. As customers in the housing market are increasingly aware of the benefits of intelligent lighting systems in reducing electricity costs, the demand for such lighting solutions by home and building automation systems may grow rapidly during the forecast period. From 2018 to 2024, the annual compound growth rate of outdoor lighting market is expected to exceed 25%. The main feature of rapid growth is the growing demand for intelligent street lighting systems worldwide. Because these systems can intelligently open / close the lighting system according to the availability of communication and natural light, significant energy saving results can be achieved by deployment. Smart city projects can also benefit from these smart lamps, so as to achieve their energy security and sustainable development goals.