Within six years the world’s ‘smart’ lighting sector could be worth more than $56 billion (£33bn) found a new report.
Automated lighting control is used for less expensive and more flexible lighting and analysts note the market is growing in a “remarkable way”.
They expect it to grow by 15.8% each year between 2014 and 2020. Mainly this is put down to the more light emitting diodes (LEDs), commercial sites modernising, rapid growth of street lighting systems and the rise of smart lighting for smart cities.
Europe has the biggest market for smart lighting, especially in commercial and industrial, public and government buildings, followed by the Asia Pacific (APAC) region, found researchers at MarketsandMarkets.
Building owners and governments clearly have an eye on energy use as public and government buildings are found to have the second largest share among all applications in the market.
The analysis looked at occupancy sensors and energy saving bulbs such as LEDs, wireless systems able to switch on or off remotely, as well as where these could be used, from businesses, to industrial, government and residential buildings.