The demand for smart lighting will reach $8.14 billion by 2020

The total smart lighting market is expected to reach $8.14 billion by 2020, with a cAGR of 22.07% between 2015 and 2020, according to a market research report released by MarketsandMarkets*, the world's second-largest market research consultancy.

The report is divided into: global forecast to 2020 by connected technology (wired & wireless) connected smart lighting market, the end users, by type of light (fluorescent, LED and others), by components (control and communications, lamps and devices) and by geography.

The smart lighting market shows great potential for growth in the coming years. The high compound annual growth rate of smart lighting will redefine the lighting industry, providing energy savings while increasing the ease of use with ancillary functions.In the next five years, the demand for intelligent lighting and intelligent lighting control is transforming from traditional lighting at an amazing speed, which will further promote the development of intelligent lighting systems.Some of the major drivers of smart lighting globally include the falling price of energy-efficient lighting technologies, government initiatives for efficient lighting, and the evolution of new wireless technologies.

Smart lighting is an innovative technology that USES an automated control system to control light, adding lighting features to make color, intensity and control more dynamic.A major player in intelligent lighting for FL and LED lights.Fluorescent lamps, which are more cost-effective and energy efficient than incandescent bulbs, have a lot of opportunities in the near future.

However, it is clear that LED lamps have high growth potential in the near future.Such as the development of intelligent LED solution, including: GreenWave GreenChip - enabled the light bulb, grace GreenChipISSL wireless LED bulbs of pu solution and GreenChipiCFL for CFL, and PhilipsHue intelligent LED bulb -- all these examples show that the development of lighting by leds solutions can be more intelligent, controllability and compact appearance makes it a unique intelligent lighting applications attractive option.Lighting controllers and sensors are a wide range of intelligent control components that are expected to grow exponentially.

The report also says that the main limitation of the smart lighting market is a lack of awareness about installation costs and payback periods.