The smart lighting market is expected to reach US$56.05 billion (£33.23 billion) by 2020, according to a new report.
The research published this month from MarketsandMarkets claims the market will grow by 15.8 per cent annually from 2014 to 2020. This is mainly put down to the increased use of LED, the modernisation of commercial sites and street lighting systems, and the rise of the smart city.
Europe has the largest market share, especially in commercial and industrial, and public and government buildings. The second largest region for smart lighting is Asia Pacific.
Source:
http://www.lighting.co.uk/news/latest-news/smart-lighting-market-to-be-worth-us5605-billion-by-2020/8663124.article?blocktitle=Latest-News&contentID=2731
