Lucintel’s latest market report analyzed that wireless technology in smart lighting provides attractive opportunities in the commercial, public, and residential applications. The wireless technology in smart lighting market is expected to reach $3.1 billion by 2028 with a CAGR of 12.9%. In this market, indoor is the largest segment by deployment, whereas commercial is largest by application.
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Based on deployment, the wireless technology in smart lighting market is segmented into indoor and outdoor. The indoor segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its widespread use in the confined places and growing requirement of lights that turns off automatically when an area or place is unoccupied, thus reducing electricity waste.
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The Wireless Technology in Smart Lighting Market is marked by the presence of several big and small players. Some of the prominent players offering wireless technology in smart lighting include Acuity Brands, ams-OSRAM AG, Cisco Systems, Deako, and Eaton Corporation.
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