LeapZipBlog: Monica nerkar's blog: Outdoor LED Smart Lighting Solution Industry Size, Status and Forecast 2022

Outdoor LED Smart Lighting Solution Industry Size, Status and Forecast 2022

January 22, 2020 by Monica nerkar  

Outdoor LED Smart Lighting Solution Industry – Overview

The outdoor lighting market has grown at a rapid pace in the past few years owing to increased applications for the products. Market Research Future which focusses on market reports linked to electronics & semiconductors sector amongst others recently made available a report on this sector. The outdoor LED smart lighting solution sector is estimated to develop roughly at USD 8 Billion by 2022 with a 12 per cent CAGR in the forecast period between 2016 and 2022.

The demand for smart lighting solutions especially for outdoor or exterior use has grown considerably in the past few years. Increased demand for better lit structures or facades has increased the demand for the market significantly. As LED lighting has better output they are being increasingly preferred for outdoor applications. With increasing reach of IoT in the lighting sector has bolstered smart lighting demand. The cost and time benefits of Outdoor LED Smart Lighting Solution Industry will buoy the growth of the market significantly in the forecast period.

Industry Segments

The outdoor LED smart lighting solution industry has been segregated on the basis of communication technology, component and application.

By Communication Technology: Wireless and Wired

By Component: Hardware, Software and Service

By Application: Landscape Light, Street Lighting, Parking, Stadium, Waterways and Others

Detailed Regional Analysis

The regional analysis of Outdoor LED Smart Lighting Solution Industry covers regions such as Americas, Asia pacific, Europe and Rest of the World. The swift evolution of IOT through diverse industries has driven the market of outdoor LED smart lighting solution. The North American region’s control will be mainly owing to high adoption of technology and growing efforts to control the unsafe impact of electricity consumption on the environment. Nonetheless, the report also proposes that developing economies in the Asia Pacific region and rest of the world will have rewarding opportunities in the global market. The European region is also one of the main and leading region in the market since of the smart LED solutions in different application segments including industrial, commercial, outdoor and residential segment.

Global Competitive Analysis

The profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise's liquidity to take the most effective decisions in terms of strategy execution and designing. The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly.

The important companies in the outdoor LED smart lighting solutions are Acuity Brands, Inc. (U.S.), Philips Lighting Holding B.V. (Netherlands), Osram Licht AG (Germany), General Electric (U.S.), Honeywell International Inc. (U.S.) and  Cooper Industries, Inc. (U.S.).

Industry Updates:

Feb 2018 Wipro Lighting which is a part of Wipro Consumer Care and Lighting Group recently revealed its solutions for connected indoor and outdoor lighting smart solutions at an event recently. Wipro Lighting has worked in partnership with top global technology firms like pureLi-Fi which is Scotland based and Cisco. They have worked together with Cisco for Power over Ethernet (PoE) based lighting solutions and are also delivering human-centric lighting solutions for modern office setups. The Internet of Lighting (IoL) venture is a step on track to provide their customers with pioneering solutions in lighting and technology. Wipro Lighting will also be extending its solutions and applications right from smart buildings, smart homes to smart cities under the brand individuality of IoL.

Browse Complete Report "Outdoor LED Smart Lighting Solution Industry Research Report- Forecast 2022" @ https://www.marketresearchfuture.com/reports/outdoor-led-smart-lighting-solution-market-2702