Smart Lighting Market and Technology Trends
Intelligent lighting technology that enables its users to control lighting through connected devices such as smart phones or remote controls is a big topic in the industry. A new report sheds light on different aspects of this business including drivers, restraints and opportunities. Jasmine Hinduja, Research Analyst at The Insight Partners, summarizes the major findings and how the trend to intelligent systems affects the companies regarding technology skills and strategies.
The current ecological imbalance in the ecosystem has transformed the way business was done traditionally. Today, a large number of companies are adopting a “Green” strategy to support sustainable development across the globe. Furthermore, private and public sectors are joining forces to encourage various smart initiatives worldwide. The market for smart technologies is growing rapidly, and lighting is one of the major prospects in this market. The global smart lighting market had accounted for $ 9.10 Bn in the year 2014, and is expected to cross the milestone of $ 51.50 Bn by the year 2025, growing at the CAGR of 17.1%.
