Smart Lighting and Control Systems Market — Evolving Technology Trends and Industry SWOT Analysis by Top Companies | 2024 Global Forecast

The competitive landscape of the market for smart lighting and control systems market is quite a consolidated one marked with the presence of few large players, according to a report published by Transparency market research. It is revealed in the report that the three leading players of the market account for 47.53% of the total market share. The three leading key players in the global smart lighting and control systems market are Acuity Brands Lighting, Inc., General Electric Company, and Koninklijke Philips N.V.
The major players are now shifting their focus on research and development of smart lighting and control systems to obtain upper hand and stay ahead in the competition. These leading companies are also emphasizing on the expansion of their geographical reach through associations with local players.
More and more people are becoming aware about the importance of energy conservation and energy efficient smart consumer electronics against the backdrop of rising concern about global warming and carbon emissions. The adverse effects of greenhouse emissions on the environment and the human beings as a whole are worrying people more these days. With more programs and campaigns on the need to conserve energy, people are becoming increasingly aware about the need to use smart lighting and control systems.
As such, various commercial, industrial, and other sectors are adopting smart lighting and control systems. These initiatives are further supported by governments worldwide who are taking every measure to contain the harmful effects of the regular lights that we use widely.
The growing deployment of smart lighting solutions in street lighting projects, and home automation projects are primarily driving the smart lighting and control systems market. The robust demand for wireless lighting controls is forming around the globe owning to the growing penetration of smartphones and internet of things technology (IoT).

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