This report provides Transforma Insights’ view on Building Lighting Application market found in the Transforma Insights Connected Things IoT forecast.
The connected lighting market is expected to continue to grow rapidly due to the changing needs of customers, demand for greater comfort and convenience, and most importantly, due to increased awareness around sustainability and energy savings opportunities. Companies are exploring ways to take advantage of smart lighting that go beyond sustainability, for example, the use of lighting to increase employee productivity and improve health. Retail companies are leveraging the technology to improve sales and decrease operational costs, and restaurants are providing the perfect ambience combined with daylight harvesting. Despite the benefits, a key factor that can limit market growth, especially in the consumer market, is the high cost of smart light devices.
The report provides a detailed definition of the Building Lighting sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.
