Smart Lightning Control Is Estimated To Witness High Growth Owing To Iot Enablement
The development of smart city infrastructure globally has accelerated the growth of smart lightning control solutions with IoT enablement. Smart lightning control solutions involve networked lighting systems and software to manage street, tunnel, and outdoor lights. The solutions allow remote monitoring and management of lighting assets for efficiency and sustainability. The systems integrate sensors, controls, and software to optimize lighting levels based on occupant safety, security, and ambient lighting. They offer flexibility to adjust light levels as per time of day, occupancy, and weather conditions.
The global smart lightning control market is estimated to be valued at US$ 21.03 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
IoT enablement of lighting infrastructure has been a key driver of the smart lightning control market growth. IoT connectivity allows remote monitoring and control of lighting assets from a centralized command center. This offers opportunities for continuous optimization of lighting levels as per dynamic needs. It also reduces maintenance needs through predictive maintenance alerts. Furthermore, networked control systems integrated with sensors and software allow automated adjustments of light levels based on occupancy, ambient conditions and time of day. This significantly improves energy efficiency of lighting infrastructure. For instance, systems can dim or switch off lights in unoccupied areas. Connected lighting solutions thus help cities lower their energy consumption and carbon footprint through intelligent lighting management.
SWOT Analysis
Strength: Smart Lightning Control Systems allow efficient control of lighting through sensors and centralized management. This reduces electricity costs by 30%. They are also easy to install and operate with apps for remote monitoring and control.
Weakness: Initially the installation and upgrade costs are high for smart lighting control systems. There are also compatibility issues and integration challenges with existing lighting infrastructure.
Opportunity: With growing focus on energy efficiency and sustainability, demand for smart lighting control from commercial buildings and street lighting is increasing. Governments in various countries provide subsidies that make ROI very attractive.
Threats: Technology changes rapidly with new solutions like IoT and AI. This could make existing smart lighting control systems obsolete faster. Hackers can also break into centralized control systems and disrupt operations.
Key Takeaways
The global Smart Lightning Control Market is expected to witness high growth. It is projected to reach a value of US$ 21.03 Bn by 2024 growing at a CAGR of 5.3% during the forecast period of 2023 to 2030.
North America currently dominates the market due to strong support from governments and building managers for energy efficient solutions. The growth in the region is estimated to be around 6% till 2030. Asia Pacific is projected to be the fastest growing regional market for smart lighting control systems. Countries like China, India, and Japan are rapidly investing in smart city projects that include integrated lighting control infrastructure. Additionally, vendors are focused on penetrating countries through partnerships with local system integrators. This is positively impacting the market growth.
Key players related content comprises:
Key players operating in the Smart Lightning Control Market are Siemens, GE, Voith, ANDRITZ, Toshiba, Harbin Electric, BHEL, Hitachi, and Kirloskar. They are focused on developing advanced IoT based solutions through R&D and partnerships. For instance, GE acquired Current which is a leading provider of industrial IoT solutions to expand its portfolio for smart cities.
Explore more related article on this topic: https://www.ukwebwire.com/smart-lightning-control-market-witnesses-steady-growth/
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