Smart lights are gaining huge popularity among the consumers due to its energy efficiency and wireless controls. A smart light includes remote controls through mobile devices and automated light adjustments based on conditions like occupancy or natural light availability. Companies in the general lighting markets manufacture lights with automated controls and sensors, and smarts and designer fixtures with inbuilt LED lights.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL GENERAL LIGHTING MARKET AT $84 BILLION IN 2017
Asia Pacific was the largest geographic region in the general lighting market in 2017, accounting for more than two-fifth of the global market. China was the largest country accounting for one-fifth of the global general lighting market.
According to The Business Research Company’s Consultant, Nitin Gianchandani, major lighting companies are integrating lighting fixtures with IoT technology to enable remote user control and for controlling lighting in office, work environment and city infrastructure. IoT technology is widely being used in homes and work places to integrate and control internal and external light fixtures. For instance, Belleds, a smart lighting designer based in Cambridge, offers wireless lighting control and broadcast location through luminaires using the beacon technology. The company is partnering with major lighting companies such as GE, Philips and Acuity to provide its services.
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General Electric Corporation was the largest player in the general lighting market, with revenues of $15.1 billion in 2016. General Electric’s growth strategy aims at making the lighting division more profitable by pulling out from Asian and Latin American markets. As it is a strong brand in North America, Europe, and the Middle East, it will concentrate on expanding the scale and boosting the division’s profitability in these markets.
General lighting market comprises of companies that manufacture chandeliers, ceiling or wall-mounted fixtures, recessed or track lights and lanterns mounted on the outside of the home.
General Lighting Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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