Transforma logo
Loading...

Building Lighting: 2.1 billion devices in 2032 supporting sustainable energy

  • Internet of Things
  • IoT
  • Hyperconnectivity
  • Lighting
  • Sustainability
  • LED Lighting
  • LiFi
  • Smart Lights
  • Connected Lights
  • Smart Bulbs
  • Smart Light Strips
  • Smart Plugs
  • Smart Switches
  • Green Technology
  • Smart Home
  • Smart Building
  • Intelligent Lighting
  • Suruchi Dhingra
  • Matt Arnott
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. This report provides Transforma Insights’ view on Building Lighting Application market found in the Transforma Insights Connected Things IoT forecast.

Report summary

This report provides Transforma Insights’ view on the 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 goes beyond sustainability, for example, the use of lighting to increase employee productivity and improve their 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 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 and revenue.

A full set of forecast data, including country-level forecasts, sector breakdowns and public/private network splits, is available through the IoT Forecast tool.

Key market developments in Building Lighting

The report examines key factors that are influencing the development of the market, including:

Energy savings from smart lighting

This section discusses the primary reasons behind the increasing adoption of smart lighting control systems (both in commercial and residential buildings) such as significant savings in the energy used by lighting. It also charts how different environmental organisations and governments have realised the importance of smart lights and are accordingly creating suitable frameworks and calls to action for property developers and corporations.

Other benefits of smart lighting

This section of the report jots down the other benefits of smart lighting (such as improvement in occupants’ health and productivity) in addition to energy and cost savings. It also talks about how various companies are exploring ways to take advantage of smart lighting that go beyond sustainability and productivity, and are leveraging this technology to increase sales and decrease operational costs.

Cost of smart lights

This section of the report discusses how the cost of smart bulbs (which range between USD15 to USD20 and can go up to USD50) can be a major deterrent to their adoption in the consumer market. It then goes on to compare the cost of smart bulbs and that of retrofitting, where smart bulbs prove to be a better option than retrofitting.

Commonly-used connectivity technologies

This section of the report discusses the commonly used technologies that are used to connect lighting devices and the ways smart lights can be connected (such as Direct Wi-Fi connection). It also charts an alternative to smart lights that is gaining prominence widely, its features, advantages, and disadvantages.

It also gives some examples of relevant IoT deployments in this application, such as Amsterdam’s multi-tenant office building, the Edge deploying a connected lighting system that allows employees to change the lighting and temperature at their workspaces using the Interact Office smartphone app. The solution allows the facility’s managers to maximise operational efficiency and reduce the building’s CO2 footprint.

Key vendors for Building Lighting Application Group

The key vendors section lists some of the main providers of products and services related to the building lighting market, such as Signify, GE Lighting, LIFX, Sengled, Wipro Lighting, and Nanoleaf. The report provides profiles of the various vendors including aspects most relevant to this Application Group, such as product offerings, pricing, financial results, and technology.

Market forecasts for Building Lighting

In the market forecasts section, we provide a summary of the forecasts from the Transforma Insights IoT Forecast Database:

Devices

The report charts the growth in the number of building lighting devices, which will grow from 201 million in 2022 to 2.1 billion in 2032.

Transforma Insights forecasts are compiled on a country-by-country basis. This report includes a regional summary, showing splits between Australasia, Greater China, North America, Europe, Japan, Latin America, MENA, Russia & Central Asia, South East Asia, South Korea, India & South Asia, and Sub-Saharan Africa.

Technologies

Transforma Insights’ IoT forecasts include splits between the various connectivity technologies as follows: 2G, 3G, 4G, 5G mMTC, 5G non-mMTC, LPWA (non-mMTC), Satellite, Short Range, and Other.

This section discusses which technologies will be used in the building lighting application group.

Revenue

This part of the report discusses the market growth in terms of revenue (module revenue, service wrap revenue, and VAC revenue). Transforma Insights estimates that the revenue in the Building Lighting Application Group will grow at a CAGR of 26%.

  • Atalian
  • GE Lighting
  • LIFX
  • Nanoleaf
  • Philips Lighting
  • Sengled
  • Signify
  • The Climate Group
  • Wipro Lighting
  • Hyperconnectivity
  • Internet of Things