Published Date: 2022-07-18
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APAC Smart Lighting Market size is poised to surpass USD 7.34 billion by 2028, according to a latest forecast report by Graphical Research.
The market growth is due to the high preference for efficient lighting systems. For existing incandescent light bulb users, a switch to LEDs and other efficient lighting systems is one of the fastest ways to reduce their energy bills. Smart lighting, designed with controls like dimmers and timers, is increasingly gaining popularity in this regard, which can help save electricity and its associated bills.
Since Southeast Asian countries are on track to outstrip the energy supplies, urgent actions to limit carbon emissions are required. The growth of the smart lighting industry across the Asia Pacific is therefore expected, mainly driven by the implementation of varied schemes to create a healthy ecosystem for LEDs.
For example, in 2021, around 50 companies applied for availing PLIs (production-linked incentives) for LEDs and air conditioners in India. This initiative, aimed at making the country an integral part of the supply chain, will provide key contributions to the development of smart LED lights and add impetus to the industry share.
The cloud software segment will register a valuation of around USD 130 million by 2028, as IoT technology is gaining massive traction in Asia. The software component is further sub-segmented into on-premise and cloud. Key developers of lights and fixtures can include sensors for cloud hosting and other software that integrate the lights with the IoT for greater scalability and flexibility.
The wireless smart lighting segment will grow substantially till 2028, driven by the advancement of Bluetooth and 5G network infrastructure.
Browse detailed statistical insights from the report, “Asia Pacific Smart Lighting Market Forecast 2028 By Application (Indoor Lighting [Residential, Commercial, Industrial], Outdoor Lighting [Highways & Roadways, Public Places, Bridges & Tunnels]), By Technology [Wired {PLC (Power Line Control), PoE (Power over Ethernet), DALI (Digital Addressable Lighting Interface), Hybrid}, Wireless {Bluetooth, Zigbee, Wi-Fi, EnOcean, Hybrid}]), By Component (Product [Luminaires {Smart Bulbs, Fixtures}, Light Control {Sensors, Switches & Dimmers, Relays, Router & Gateways, LED Driver & Ballasts}], By Lighting Source (LED, Fluorescent Lamp, CFL (Compact Fluorescent Light), HIDL (High Intensity Discharge Lamp), Research Report, Country Outlook (China, India, Japan, South Korea, Australia & New Zealand (ANZ), Singapore, Taiwan), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1014/asia-pacific-smart-lighting-market
According to Singtel, in 2021, the 5G network covered over two-thirds of Singapore. As the 5G telecom booms, lighting systems are expected to be integrated with more intelligent controls.
The installation of smart lights in indoor settings is growing considering, as a result of the rise of home offices amid the coronavirus pandemic. In the initial months of the crisis, millions of employees adjusted to working from home, which could have strengthened the demand for smart lighting for home office applications. This, alongside the rapid introduction of smart building solution businesses.
China’s smart lighting industry will grow at a CAGR of 20% through 2028. From a country-level perspective, China is emerging as a major hub for smart lighting solutions, considering the significant advancement of Wi-Fi technology. For instance, in May 2022, China-based Zunpai Communication Technology (Nanjing) Co., Ltd. secured a large fund to address the Wi-Fi 6 and Wi-Fi 7 standards.
The APAC smart lighting market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:
Asia Pacific Market, By Component:
Asia Pacific Market, By Technology
Asia Pacific Market, By Application:
The above information has been provided for the following countries:
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