Market Outlook:
The Smart Lighting Market size is poised to reach USD 9,433.99 Million by 2024, with a projected escalation to USD 18,314.33 Million by 2032, reflecting a compound annual growth rate (CAGR) of 12.11% during the forecast period (2025-2032). 
Various elements fuel the progress of the smart lighting market. Many aspects propel smart lighting market growth such as digital protocol creation by regulators, rising smart cities around the world, AI and edge computing development, LED and luminaire adoption in outdoor places, growing IoT-integrated smart lighting requirements, and increased smart lighting data analysis usage. During the predicted period the services part will expand considerably. The practice of offering lighting services now helps businesses and organizations save on advance payments. Organizations now choose LaaS services because of this reason. The market for this segment will expand because people increasingly switch to smart lighting while demanding easier integration and service arrangements.
Market Dynamics:
Driver:
Smart city expansion around the world creates business opportunities for technology companies plus service providers and consultants who work with utilities. Smart lighting belongs to the core functions of smart cities by helping to manage electricity more effectively and promote energy-saving practices. Fast city growth brings about smart city significance for better urban conditions through connected infrastructure and green technology which saves energy while developing digital solutions. Smart lighting systems form the basis for reducing city energy use while building a better future through lighting technology innovations. Early smart lighting technology users have proven successful which drives smart city development. Intelligent lighting technology expands further because these cities save energy effectively while lowering operation expenses and carbon footprint.
Restraint:
The connected smart lighting system faces dangerous online security risks that slow market development. Because smart lighting depends on internet connections through IoT systems hackers can easily attack and misuse it. The network targets of hackers will include both the lighting systems and any other connected devices in the building or smart city. These systems face security dangers including unauthorized light changes, data theft attempts, and service disruption problems. Smart lighting systems that share data with cloud platforms regularly make user private details including activity patterns more accessible to unauthorized users. ENormally functioning offices and businesses could face interruptions because of these security risks.
Opportunity:
Smart lighting systems for offices and shops create a better method to save energy that users find more satisfying. Smart office lighting technology detects people in rooms and manages light routines by syncing with users' laptop lights plus adjusting lights according to building use data and user choice. These energy-saving systems let companies reduce operational costs and maintain good workplace conditions in settings that handle shifting activities. By introducing Interact Office Philips designed a system that both controls lighting requirements and tracks energy performance through a web-based platform that offers immediate application-driven remote management. Smart lighting becomes a valuable addition to retail organizations because it creates stronger shopper interactions and expands businesses sales revenue. By adjusting light color and position retailers display products in the best possible way while creating personalized memories for customers during their shopping trip.
Key Players:
•    Acuity Brands Lighting, Inc.
•    Signify Holding
•    Honeywell International Inc.
•    Itron Inc.
•    IDEAL INDUSTRIES, INC.
•    Häfele America Co.
•    Wipro Lighting
•    YEELIGHT.
•    Sengled Optoelectronics Co., Ltd.
•    Verizon
•    Schneider Electric
•     Others
Report Coverage    Details
Market Size in 2024:    USD 9,433.99 Million
2032 Value Projection:    USD 18,314.33 Million
Growth Rate (CAGR)    12.11%
Forecast Period:    2025 – 2032
Historical Period:    2019 - 2023
Segments Covered    By Component (Hardware, Software, Services)
By Connectivity (Wired, Wireless)
By Application (Indoor, Outdoor)
Competitive Landscape    Acuity Brands Lighting, Inc.; Signify Holding.; Honeywell International Inc.; Itron Inc.; IDEAL INDUSTRIES, INC.; Häfele America Co.; Wipro Lighting.; YEELIGHT.; Sengled Optoelectronics Co., Ltd.; Verizon; Schneider Electric and others.
Geographies Covered    North America (U.S., Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe)
Asia Pacific (China, Japan India, South Korea, and the Rest of Asia Pacific)
Middle East & Africa (GCC, South Africa, and the Rest of MEA)
South America (Brazil, Argentina, and Rest of South America)
Growth Drivers Which are booming the market    •    Energy Efficiency and Cost Savings
•    Integration with IoT and Smart Home Systems
Challenges facing the industry    •    High Initial Investment Costs
•    Data Security and Privacy Concerns
Market Analysis    PESTLE Analysis, PORTERS Analysis, NOISE analysis, Value/Supply Chain Analysis
Competitive Analysis    Comprehensive mapping of the Competitive Landscape Comprising Merges & Acquisitions, Partnership /Agreements/Joint Venture, Expansion, New Product Launches, and other developments.
Company Share Analysis
Customization Scope    Available on your market scope and requirements

Recent Development:
•    In October 2024 Acuity Brands created Nightingale as its patient-specific brand to link lighting solutions that help patients feel better and enhance the work of healthcare staff. Through its lighting expertise Nightingale joins design elements with illumination technology to make healthcare facilities that comfort patients.
•    In February 2024, Panasonic Life Solutions established a new production site for PEWIN in Daman, India. The new manufacturing space will help expand existing lighting products while increasing total lighting output from our India facilities. PEWIN invested INR 15 million (approximately USD 0.18 million) to open its own facility where they now make their lighting products as part of their growth plan.
•    In January 2024, Legrand released its innovative advanced LED dimmer which forms part of its radiant collection. This upgraded lighting control device overcomes common dimmer problems because of its advanced electrical design..
Segment Insights:
By Component
The smart lighting industry will primarily grow thanks to hardware use since LED lighting devices connected to sensors control systems become standard in commercial and domestic networks. Smart lighting solutions depend on LED luminaires as their default choice because these lights provide long-term efficient energy use and sophisticated controllability. Sensors that detect when spaces are being occupied help lighting controls adapt to changing room conditions to make the operation more efficient. As manufacturers install more dimmers switches and gateways they strengthen their lead in the hardware market sector. The latest building projects benefit from PoE lighting systems because they speed up setups and reduce infrastructure requirements which makes them popular for use today. Building management system-connected commercial venues such as offices and retail outlets pick IoT devices that enhance their operating systems to deliver better service to both staff and customers. The growth of smartphone applications and managed city initiatives creates rising demand for reliable smart lighting hardware that remains dominant in the market due to its continuous product innovations.
 
By Connectivity
Smart lighting systems that update older facilities will multiply in use more than any other market sector because property owners need more energy-efficient lighting solutions for their outdated setups. Existing LED fixtures from the year 2017 no longer function effectively. Owners and managers select smart lighting systems that enhance energy control functions and automation features at the same time. The basic maintenance process used for building repairs lets companies install advanced lighting controls that combine occupancy sensors, sunlight monitoring, and wireless capabilities. Business facilities across all sectors move faster to upgrade their systems due to environmental demands that create new standards to save energy. Cafes and other businesses can benefit from modern lighting upgrades since installing new systems would require excessive costs. Users now find it much simpler to install smart lighting systems through plug-and-play because typical wiring tasks are now unnecessary. Organizations and homeowners pick retrofitting as a strong option because it helps them reduce energy costs and make their operations smarter.
Regional Insights:

The region of Asia Pacific grows fastest in the global smart lighting market through rising city development and official energy-saving rules backed by expanding smart city initiatives. The Asian Development Bank research indicates urban populations will reach 55% across Asia to create strong market demand for modern lighting technology. China maintains its position as global LED manufacturing leader and biggest marketplace because it started the National Green Lighting Program to eliminate lighting devices that waste power. The acceptance of smart homes grows across Japan India and South Korea because people have more money to spend while using their internet-connected lighting systems. Companies in business and industry across Asia are working harder to hit sustainability and zero-carbon targets which increases the push for smart lighting solutions that save energy. Light and 5G networking developments are fueling fresh smart lighting options because more people adopt Li-Fi technology to transfer data at high speeds. Led manufacturing companies and electronics suppliers benefit the region through combined skills that drive product development and decrease making charges.
Segmentation:
By Component
•    Hardware
•    Software
•    Services
By Connectivity 
•    Wired
•    Wireless
By Application
•    Indoor
•    Outdoor
By Region
North America
•    USA
•    Canada
•    Mexico
Europe
•    France
•    UK
•    Spain
•    Germany
•    Italy
•    Rest of Europe
Asia Pacific
•    China
•    Japan
•    India
•    South Korea
•    Rest of Asia Pacific
Middle East & Africa
•    GCC
•    South Africa
•    Rest of the Middle East & Africa
South America
•    Brazil
•    Argentina
•    Rest of South America
    
What to Expect from Industry Profile?
1.    Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Smart Lighting Market in the world.
2.    Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Smart Lighting Market.
3.    Leading company profiles reveal details of key Smart Lighting Market players’ global operations, strategies, financial performance & recent developments.
4.    Add weight to presentations and pitches by understanding the future growth prospects of the Global Smart Lighting Market with forecast for the decade by both market share (%) & revenue (USD Million).
FAQ’s 1) What are the major factors driving the growth of the Global Smart Lighting Market?
•    Energy Efficiency and Cost Savings has intensified the demand for smart lighting.
2) What would be the CAGR of the Global Smart Lighting Market over the forecast period?
•    The Global Smart Lighting Market is poised to grow at a CAGR of 11.3% from 2024 to 2032.
3) Which region will provide more business opportunities for the growth of the Global Smart Lighting Market in the future?
•    The Asia Pacific region is expected to create more opportunities in the market.
4) Who are the major players dominating the Global Smart Lighting Market?
Acuity Brands Lighting, Inc.; Signify Holding.; Honeywell International Inc.; Itron Inc.; IDEAL INDUSTRIES, INC.; Häfele America Co.; Wipro Lighting.; YEELIGHT.; Sengled Optoelectronics Co., Ltd.; Verizon; Schneider Electric, and others.
5) What are the segments in the Global Smart Lighting Market?
•    By Application, By Connectivity, By Application, By End-user are the industry key segments considered for research study.
6) What is the estimated market revenue for the Global Smart Lighting Market in 2032?
•    The estimated revenue for the Global Smart Lighting Market in 2032 is USD 18,314.33 Million.