North America Smart Lighting Market size exceeded USD 1860 million in 2021 and is anticipated to exhibit a CAGR of 16% between 2022 and 2028.
The industry growth can be credited to an increase in the adoption of various regulatory policies. In addition, numerous establishments are considering the deployment of smart lighting solutions for commercial purposes. These steps are being taken to leverage benefits such as the cost-savings and energy efficiency, which can be realized with the help of smart lighting installations.
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Impact of COVID-19 pandemic on North America smart lighting market
The SARS-CoV-2 pandemic has led to an increase in research activities, paving way to a series of innovations in the market. Quoting an instance, a research team at the University of California announced that it has designed a system that deployed a smartphone’s camera for the performance of COVID tests. Dubbed smaRT-LAMP, the test system functioned via the analysis of work samples for bits of coronavirus’ genetic material.
North America Market, By Component
The North America smart lighting market size from luminaires segment will record an appreciable valuation during the forecast period, attributed to the surging product demand for fixtures and smart bulbs on account of a series of incentives offered by the Federal Government in the U.S. for commercial and residential entities for the deployment of energy-efficient lighting solutions.
North America Market, By Technology
The wireless technology segment size will register substantial expansion through 2028, due to the advantages of wireless smart lights, like being able to control the lighting from anywhere, anytime. Several companies are participating in trade fairs and conferences to exhibit their new products for securing a competitive edge.
North America Market, By Country
Canada smart lighting market revenue is set to grow significantly till 2028, on account of an increase in the installation of streetlighting systems in the country. Quoting an instance, in July 2021, the Canadian city of Vaughan announced plans for the deployment of Telensa’s PLANet intelligent streetlighting system. The program included the replacement of Vaughan’s 23,000 streetlights with energy-efficient LEDs integrated with wireless controls offered by Telensa.
North America Market, By Application
The indoor lighting segment will gain remarkable momentum in the coming years, owing to an increase in the development and rollout of a range of smart lighting solutions. The products are being designed for deployment in various residential as well as commercial establishments. Besides, several regulatory bodies are framing a series of policies for the reduction of carbon emissions and the rollout of energy-efficient products in the market.
Competitive Industry Landscape
Prominent participants operating across the North America smart lighting market are Acuity Brands, Digital Lumens, Honeywell, Bridgelux, Hubbell, OSRAM, Cree, Philips Lighting, Silver Spring Networks, and Cooper Industries (Eaton). These companies are centered on the adoption of a range of initiatives such as mergers, acquisitions, product developments, and others for the consolidation of their market position. Further, several companies are also engaging in research activities for enabling the development of superior products.