PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1844336
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1844336
Smart Lighting Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Smart Lighting Market was valued at USD 15.7 billion in 2024 and is estimated to grow at a CAGR of 19.3% to reach USD 88.4 billion by 2034.
Market growth is influenced by the increasing integration of intelligent lighting systems in smart city infrastructures. Governments worldwide are accelerating smart city developments with a sharp focus on sustainability, carbon reduction, and urban efficiency, where smart lighting plays a central role. These systems enable better energy management and social advancement by offering automated, responsive, and data-driven lighting control. Their deployment in public infrastructure aligns both environmental goals and improved public safety.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $15.7 billion |
| Forecast Value | $88.4 billion |
| CAGR | 19.3% |
Smart lighting combines advanced connectivity with intelligent automation, making lighting systems more adaptive and user centric. The rise of wireless standards like Zigbee, Z-Wave, and Bluetooth has made smart lighting more accessible and interoperable with other devices. As connected living becomes more mainstream, demand for lighting systems that offer control via smartphones, voice assistants, and centralized apps continues to surge. Innovations driven by IoT are also fueling the design of smarter lighting products that respond to real-time data. Consumers increasingly value seamless integration, user-friendly interfaces, and personalization making smart lighting a critical aspect of digital home evolution.
In 2024, the hardware segment generated USD 12.5 billion. The growth of this segment is attributed to IoT-enabled components like smart bulbs, luminaires, and controllers, which support remote operation, automation, and energy optimization. To remain competitive, manufacturers are emphasizing product miniaturization, enhancing system longevity, reducing production costs, and embedding AI for smarter functionality. The demand for intelligent, connected lighting continues to push development toward more compact, efficient, and responsive devices.
The wired smart lighting segment generated USD 11 billion in 2024, supported by wired systems offering greater security, stable connectivity, regulatory reliability, and suitability for extensive commercial or public infrastructure installations. Their high transmission capacity and long-term cost advantages make them ideal for enterprises seeking consistent performance in critical applications.
U.S. Smart Lighting Market generated USD 3.2 billion in 2024. Market expansion in the U.S. is bolstered by rapid advancements in artificial intelligence and IoT, alongside strong momentum in smart home and city initiatives. With increased consumer interest in automated environments and increasing energy consciousness, adoption of smart lighting is gaining traction across residential, commercial, and industrial spaces. The integration of lighting systems into home automation platforms further enhances consumer experience and operational control, making the U.S. a prime market for ongoing innovation and growth.
Top companies in the Global Smart Lighting Market include Lockheed Martin, Dragonfly Aerospace, SpaceX, NanoAvionics, EnduroSat, ISISPACE GROUP, Space Inventor A/S, Surrey Satellite Technology Ltd, Tyvak International, CU Aerospace, GomSpace, Pumpkin Space Systems, Maverick Space Systems Inc., EXOLAUNCH GmbH, Northrop Grumman, RTX Corporation, and AAC Clyde Space. Companies operating in the Smart Lighting Market are pursuing a range of strategies to expand their global footprint and strengthen competitiveness. They are heavily investing in R&D to introduce AI-integrated, energy-efficient lighting solutions that offer enhanced automation and seamless interoperability with broader smart ecosystems. Strategic partnerships with tech companies, city planners, and real estate developers are allowing faster integration of their products in residential and commercial projects. Many players are also focusing on upgrading existing lighting infrastructures with retrofit smart modules. Product diversification into both wired and wireless segments ensures wider reach across varied consumer bases.
Table of Contents
Chapter 1 Methodology and scope
- 1.1 Market scope and definition
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Data mining sources
- 1.3.1 Global
- 1.3.2 Regional/Country
- 1.4 Base estimates and calculations
- 1.4.1 Base year calculation
- 1.4.2 Key trends for market estimation
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.6 Forecast model
- 1.7 Research assumptions and limitations
Chapter 2 Executive Summary
- 2.1 Industry snapshot
- 2.2 Key market trends
- 2.2.1 Business trends
- 2.2.2 Component trends
- 2.2.3 Technology trends
- 2.2.4 Application trends
- 2.2.5 Regional
- 2.3 TAM Analysis, 2025-2034 (USD Billion)
- 2.4 CXO perspectives: Strategic imperatives
- 2.4.1 Executive decision points
- 2.4.2 critical success factors
- 2.5 Future outlook and strategic recommendations
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Supplier Landscape
- 3.1.2 Profit Margin
- 3.1.3 Cost structure
- 3.1.4 Value addition at each stage
- 3.1.5 Factor affecting the value chain
- 3.1.6 Disruptions
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Growing Focus on Energy Efficiency and Sustainability
- 3.2.1.2 Rapid Urbanization and Smart City Initiatives
- 3.2.1.3 Advancements in IoT and Sensor Integration
- 3.2.1.4 Declining LED Costs and Widespread Adoption
- 3.2.1.5 Rising Demand for Connected and Automated Homes
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 High Installation and Maintenance Costs
- 3.2.2.2 Interoperability and Standardization Issues
- 3.2.3 Market opportunities
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.4.1 North America
- 3.4.2 Europe
- 3.4.3 Asia Pacific
- 3.4.4 Latin America
- 3.4.5 Middle East & Africa
- 3.5 Porter’s analysis
- 3.6 PESTEL analysis
- 3.7 Technology and innovation landscape
- 3.7.1 Current technological trends
- 3.7.2 Emerging technologies
- 3.8 Emerging business models
- 3.9 Compliance requirements
- 3.10 Defense budget analysis
- 3.11 Global defense spending trends
- 3.12 Regional defense budget allocation
- 3.12.1 North America
- 3.12.2 Europe
- 3.12.3 Asia Pacific
- 3.12.4 Middle East and Africa
- 3.12.5 Latin America
- 3.13 Key defense modernization programs
- 3.14 Budget forecast (2025-2034)
- 3.14.1 Impact on Industry Growth
- 3.14.2 Defense Budgets by Country
- 3.15 Supply chain resilience
- 3.16 Geopolitical analysis
- 3.17 Workforce analysis
- 3.18 Digital transformation
- 3.19 Mergers, acquisitions, and strategic partnerships landscape
- 3.20 Risk assessment and management
- 3.21 Major contract awards (2021-2024)
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.2.1 By region
- 4.2.1.1 North America
- 4.2.1.2 Europe
- 4.2.1.3 Asia Pacific
- 4.2.1.4 Latin America
- 4.2.1.5 Middle East & Africa
- 4.2.2 Market Concentration Analysis
- 4.2.1 By region
- 4.3 Competitive benchmarking of key players
- 4.3.1 Financial performance comparison
- 4.3.1.1 Revenue
- 4.3.1.2 Profit margin
- 4.3.1.3 R&D
- 4.3.2 Product portfolio comparison
- 4.3.2.1 Product range breadth
- 4.3.2.2 Technology
- 4.3.2.3 Innovation
- 4.3.3 Geographic presence comparison
- 4.3.3.1 Global footprint analysis
- 4.3.3.2 Service network coverage
- 4.3.3.3 Market penetration by region
- 4.3.4 Competitive positioning matrix
- 4.3.4.1 Leaders
- 4.3.4.2 Challengers
- 4.3.4.3 Followers
- 4.3.4.4 Niche players
- 4.3.5 Strategic outlook matrix
- 4.3.1 Financial performance comparison
- 4.4 Key developments, 2021-2024
- 4.4.1 Mergers and acquisitions
- 4.4.2 Partnerships and collaborations
- 4.4.3 Technological advancements
- 4.4.4 Expansion and investment strategies
- 4.4.5 Sustainability initiatives
- 4.4.6 Digital transformation initiatives
- 4.5 Emerging/ startup competitors landscape
Chapter 5 Market estimates and forecast, by Component, 2021 - 2034 (USD Billion)
- 5.1 Key trends
- 5.2 Hardware
- 5.2.1 Smart Bulb
- 5.2.2 Luminaire
- 5.2.3 Light Controls
- 5.3 Software
- 5.3.1 On-premise
- 5.3.2 Cloud
- 5.4 Service
- 5.4.1 Pre-sales
- 5.4.2 Post-sales
Chapter 6 Market estimates and forecast, by technology, 2021 - 2034 (USD Billion)
- 6.1 Key trends
- 6.2 Wired Technology
- 6.2.1 Power Line Communication
- 6.2.2 Power Over Ethernet
- 6.2.3 DALI
- 6.2.4 Hybrid
- 6.3 Wireless Technology
- 6.3.1 Bluetooth
- 6.3.2 Zigbee
- 6.3.3 Wi-Fi
- 6.3.4 Enocean
- 6.3.5 LPWAN
- 6.3.6 Hybrid
Chapter 7 Market estimates and forecast, by Application, 2021 - 2034 (USD Billion)
- 7.1 Key trends
- 7.2 Indoor Lighting
- 7.2.1 Residential
- 7.2.2 Commercial
- 7.2.3 Industrial
- 7.3 Outdoor Lighting
- 7.3.1 Highways & Roadways
- 7.3.2 Public Places
- 7.3.3 Bridges & Tunnel
Chapter 8 Market estimates and forecast, by Region, 2021 - 2034 (USD Billion)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Netherlands
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 Australia
- 8.4.5 South Korea
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.6 Middle East and Africa
- 8.6.1 Saudi Arabia
- 8.6.2 South Africa
- 8.6.3 UAE
Chapter 9 Company profiles
- 9.1 AAC Clyde Space
- 9.2 CU Aerospace
- 9.3 Dragonfly Aerospace
- 9.4 EnduroSat
- 9.5 EXOLAUNCH GmbH
- 9.6 GomSpace
- 9.7 ISISPACE GROUP
- 9.8 Lockheed Martin
- 9.9 Maverick Space Systems Inc.
- 9.10 NanoAvionics
- 9.11 Northrop Grumman
- 9.12 Pumpkin Space Systems
- 9.13 RTX Corporation
- 9.14 Space Inventor A/S
- 9.15 SpaceX
- 9.16 Surrey Satellite Technology Ltd
- 9.17 Tyvak International
