Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.97 Billion | USD 94.54 Billion | 23.1% | 2024 |
FrequentlyAsked Questions
The global smart lighting and control systems market is expected to grow due to growing adoption of smart homes and cities, increasing demand for energy-efficient solutions, advancements in IoT and wireless technologies, and rising government initiatives for sustainable lighting.
According to a study, the global smart lighting and control systems market size was worth around USD 11.97 Billion in 2024 and is expected to reach USD 94.54 Billion by 2034.
The global smart lighting and control systems market is expected to grow at a CAGR of 23.1% during the forecast period.
North America is expected to dominate the smart lighting and control systems market over the forecast period.
Leading players in the global smart lighting and control systems market include General Electric Company, Koninklijke Philips N.V., Belkin International Inc., Eaton Corporation, Lightwave PLC, Elgato Systems, LiFI Labs Inc., Honeywell International Inc., Lutron Electronics Company Inc., and Acuity Brands Lighting Inc, among others.
The report explores crucial aspects of the smart lighting and control systems market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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