Smart Lighting Market Analysis, Size, and Share by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Smart Lighting Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Lighting Types (Light Emitting Diode (LED) Lamp, Fluorescent Lamps, Compact Fluorescent Lamps (CFL), Intensity Discharge Lamps, and Others (Neon Lamps and Photographic Flashes)); Application (Industrial Lighting, Residential Lighting, Commercial Lighting, Government, Outdoor Lighting, and Automotive Lighting) and Connectivity Technology (Wired and Wireless), and Geography

  • Report Date : Sep 2025
  • Report Code : TIPTE100000112
  • Category : Electronics and Semiconductor
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The Smart Lighting Market size is projected to reach US$ 78.33 billion by 2031 from US$ 18.45 billion in 2023. The market is expected to register a CAGR of 19.8% in 2023—2031. The development of integrated lighting control systems and growing smart city projects are likely to remain key smart lighting market trends.

Smart Lighting Market Analysis

The smart lighting market is growing at a rapid pace. In recent years, the market for smart lighting has experienced substantial growth due to the ongoing and forthcoming smart city projects in developing economies.

Smart Lighting Market Overview

Lights have become more popular and in demand in both commercial and residential environments due to their capacity to link with Internet of Things devices and produce a range of ambient lighting with simple smartphones or tablets. As needed, smart lights can be dimmed to a variety of color tones. They can also be connected via Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee, and they can be programmed to turn on or off. Furthermore, voice control over smart lights can be achieved through platform integration, such as Google Assistant, Microsoft Cortana, Apple Siri, and Amazon Alexa. In addition to lighting, these extensive feature sets also include an increasing number of IoT devices and smart assistant platforms, which have opened up new growth opportunities for the smart lighting market.

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Smart Lighting Market: Strategic Insights

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Smart Lighting Market Drivers and Opportunities

Development in Integrated Lighting Control System to Favor Market

Turning on or off is made possible by the integrated control system from a single location. The cost-effectiveness of smart lighting and the increased awareness among consumers and the government alike of the need to conserve electricity are contributing to its expanding market share. The market for smart lighting has been able to grow globally because of the development of integrated lighting control systems.

Increasing Growing Smart City Projects

Because smart lighting devices are being more widely used as a result of ongoing smart city projects, the worldwide smart lighting market is anticipated to rise significantly. The governments of developing countries are making large financial investments in the creation of smart cities. For numerous suppliers in the domains of consultancy, utility services, and information technology, this offers a substantial commercial opportunity. Because maximizing the use of available electricity is one of the main objectives of smart city development, and because smart lighting is becoming more and more popular because of its efficiency, smart lighting is consistent with smart city projects. It is projected that the implementation of smart lighting will significantly aid energy savings and sustainability.

Smart Lighting Market Report Segmentation Analysis

Key segments that contributed to the derivation of the smart lighting market analysis are lighting types, applications, and connectivity technology.

  • Based on lighting types, the smart lighting market is divided into light-emitting diode (LED) lamps, fluorescent lamps, compact fluorescent lamps (CFL), high-intensity discharge lamps, and others (neon lamps and photographic flashes). The LED segment held a larger market share in 2023.
  • By application size, the market is segmented into industrial lighting, residential lighting, commercial lighting, government, outdoor lighting, and automotive lighting. The residential segment held the largest share of the market in 2023.
  • Based on connectivity technology, the smart lighting market is divided into wired and wireless. The wireless segment held a larger market share in 2023.

Smart Lighting Market Share Analysis by Geography

The geographic scope of the Smart Lighting Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the smart lighting market. High technology adoption trends in various industries in the region have fuelled the growth of the smart lighting market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North America smart lighting market growth. Moreover, a strong emphasis on research and development in the developed economies is forcing North American players to bring technologically advanced solutions into the market. All these factors contribute to the region's growth of the Smart Lighting Market.

Smart Lighting Market Regional Insights

The regional trends and factors influencing the Smart Lighting Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Lighting Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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Smart Lighting Market Report Scope

Report Attribute Details
Market size in 2023 US$ 18.45 billion
Market Size by 2031 US$ 78.33 billion
Global CAGR (2023 - 2031) 19.8%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Lighting Types
  • Light Emitting Diode Lamp
  • Fluorescent Lamps
  • Compact Fluorescent Lamps
  • High Intensity Discharge Lamps
By Application
  • Industrial Lighting
  • Residential Lighting
  • Commercial Lighting
  • Government
  • Outdoor Lighting
  • Automotive Lighting
By Connectivity Technology
  • Wired and Wireless
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Signify Holding
  • Legrand North America, LLC
  • ACUITY BRANDS, INC.
  • Lutron Electronics Co., Inc
  • Leviton Manufacturing Co., Inc
  • Zumtobel
  • Honeywell
  • SAVANT TECHNOLOGIES LLC
  • Dialight
  • Panasonic

  • Smart Lighting Market Players Density: Understanding Its Impact on Business Dynamics

    The Smart Lighting Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Smart Lighting Market are:

    1. Signify Holding
    2. Legrand North America, LLC
    3. ACUITY BRANDS, INC.
    4. Lutron Electronics Co., Inc
    5. Leviton Manufacturing Co., Inc
    6. Zumtobel

    Disclaimer: The companies listed above are not ranked in any particular order.


    smart-lighting-market-cagr

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    Smart Lighting Market News and Recent Developments

    The Smart Lighting Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

    • In February 2023, - Signify, one of the world leaders in lighting, supplied LED street lighting, smart poles, and a connected lighting system to the industrial parks in Huanggang City in Hubei Province, China. This large-scale smart pole project will enable the province to save energy costs and emissions while digitalizing the urban infrastructure.

    (Source: Signify, Press Release, 2023)

    • In November 2023, in order to better seamlessly link with the Smart IoT platform and provide a more convenient smart interaction for users, Yeelight, as the authoritative solution provider in the field of smart lighting, officially rolled out an updated solution based on BLE Mesh protocol seamless setup for manufacturers and brands.

    (Source: Yeelight, Press Release, 2023)

    Smart Lighting Market Report Coverage and Deliverables

    The "Smart Lighting Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter's Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments.
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
    • Detailed company profiles

    Frequently Asked Questions

    What are the future trends of the global smart lighting market?

    The development of smart cities is anticipated to play a significant role in the global smart lighting market in the coming years.

    What is the estimated market size for the global smart lighting market in 2023?

    The global smart lighting market was estimated to be US$ 18.45 billion in 2023 and is expected to grow at a CAGR of 19.8% during the forecast period 2024 - 2031.

    What is the driving factor impacting the global smart lighting market?

    Development in integrated lighting control systems is the major factor that propels the global smart lighting market.

    What will be the market size of the global smart lighting market by 2031?

    The global smart lighting market is expected to reach US$ 78.33 billion by 2031.

    Which are the key players holding the major market share of the smart lighting market?

    The key players holding majority shares in the global smart lighting market are Signify Holding, Legrand North America, LLC, ACUITY BRANDS, INC., Lutron Electronics Co., Inc., Leviton Manufacturing Co., Inc, Zumtobel, Honeywell, SAVANT TECHNOLOGIES LLC, Dialight, Panasonic.

    Naveen Chittaragi
    Naveen Chittaragi
    Associate Vice President,
    Market Research & Consulting

    Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

    Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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