Smart lighting with rapid growth
The Smart lighting market is growing at a very fast rate in the lighting industry. It is expected to grow to USD 8.14 Billion by 2020, at a CAGR of 22 percent between 2015 and 2020. Smart lighting is a system of luminaries and electronic control systems designed to accelerate energy savings and maintain an intelligent lighting ecosystem.
Smart lighting is an advance technology that makes the use of intelligent lighting control systems to control light based on various parameters, namely, occupancy, movement, color temperature, and amount of natural light. The smart lighting broadly comprises two components: luminaries and control & communication components. The system uses luminaries such as fluorescent bulbs, LED lamps, HID lamps, and others for illumination.
The control and communication components which include sensors, microcontrollers, receivers, and others are the key components and are responsible for intelligence in the luminaries. The growth of infrastructure, burgeoning population, and focus on energy consumption rate has catalyzed the growth of the smart lighting market. Moreover, the government mandates over energy consumption is acting as a key revenue pocket for the smart lighting manufacturers.