Smart Lighting Market Regional Analysis:
European Market Insights
Europe industry is expected to dominate majority revenue share of 32% by 2035. The growth of the market in the region is due to some indoor commercial intelligent lighting standards for garages, highways, and parking facilities, and Europe has taken the lead in developing safety and harmonized performance standards. According to the continuing advances in light emitting diode design and technology, focused lighting as well as smart replacement lamps for LEDs are becoming a key growth area of the lighting industry. Existing manufacturers are expanding their product lines in order to enter the market in the region, while traditional smart lighting producers continue to keep an ever-increasing number of new products available. Especially with the applications of Downlights, Task Lights, Landscape Lights, General Ambient, and Outdoor Lighting, it can be seen that there is an impending surplus of suppliers specialized in the market. For example, the Worcestershire County Council announced in March 2022 that up to 20,000 streetlight bulbs would be replaced by more energy-efficient LEDs. Around 35,000 lights have already been replaced by the Council in this area.
North American Market Insights
Smart lighting market in North America is projected to hold second largest share of about 27% by the end of 2035. The growth in consumer acceptance of smart lighting and energy efficiency solutions, together with the region's illumination problem, is driving consumers to embrace such technologies. In addition, there are a number of prominent companies in the region who have put into place smart lighting solutions with the most recent technologies and this is making it easier to adopt intelligent lighting solutions.
