Smart Lighting Market is expected to grow at a CAGR of 15.8 percent from 2014 to 2020, and to reach $56.05 billion by 2020, says a new report from MarketsandMarkets.
Smart lighting relates to the lighting technology intended for energy efficiency with utilization of lighting control systems.
The growing demand for lighting control systems is increasing in a drastic way thereby giving an exponential growth to the smart light industry.
Smart Lighting Market includes major components like relays, occupancy sensors, controllers, actuators, transmitters, receivers. The overall Smart Lighting Market is segmented on the basis of five major verticals- lighting type, lighting control components, connectivity technologies, application and geography.