The market study report by Informes de Expertos titled, ‘Latin America Smart Lighting Market 2023-2028 ’, gives structured insights into the market, examining its diverse segments and key variables such as offering, communication technology, type of installation, light source, application, and key regions. The research gathers robust forecasting of the presence of key success factors and constraints, tracks well-established vendors, and the latest trends in the industry that impact the growth goal of the overall market. It also assesses the market dynamics, and the relationship between consumer demand and product price, coupled with the audit of SWOT and Porter’s Five Forces models.
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Los aspectos más destacados del informe incluyen:
Visión general del mercado (2018-2028)
• CAGR para el período de pronóstico (2023-2028): 19,04%
El mercado de la iluminación inteligente en América Latina está sustituyendo a las soluciones de iluminación convencionales y marcando su presencia en la región debido a la dinámica cambiante de las necesidades de sostenibilidad. Las proyecciones de crecimiento y las referencias para la integración de la tecnología inalámbrica en la iluminación están floreciendo y superando a otros segmentos. Además, factores como los objetivos de sostenibilidad y el uso eficiente de los recursos anticipan el crecimiento del mercado durante el periodo de pronóstico.
Además, los sólidos esfuerzos de los actores regionales, unidos a la necesidad de adoptar tecnologías avanzadas en las unidades de fabricación, procesamiento y negocio, están abriendo el camino del mercado de la iluminación inteligente hacia vías positivas y mejoradas. Todas estas tendencias y comportamientos de mercado están cambiando las perspectivas del mercado de la iluminación inteligente en la región de América Latina, junto con las mayores tasas de producción registradas para un crecimiento saludable.
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Industry Definition and Major Segments
Smart lighting refers to a technology that allows you to control and automate lighting in your home or office using a smartphone app, voice assistant, or other smart device. It typically involves installing connected light bulbs, switches, or fixtures that can be adjusted remotely, programmed to turn on/off at specific times, or set to change colors and brightness levels. The goal of smart lighting is to provide more convenience, energy efficiency, and customization options compared to traditional lighting.
The market based on offering is divided into:
• Hardware
• Software
• Services
Hardware can be divided into lights and luminaires and lighting controls. The services can be segmented into design and engineering, installation, and post-installation.
By communication technology, the industry is segmented into:
• Wired
• Wireless
By the type of installation, the industry is classified as:
• New Installation
• Retrofit Installation
According to the light source, the market can be divided into:
• LED Lamps
• Fluorescent Lamps
• Compact Fluorescent Lamps
• High-Intensity Discharge Lamps
• Others
Various application sectors covered in the report are:
• Commercial
• Residential
• Public Infrastructure
• Others
Key regions covered include:
• Brazil
• Argentina
• Mexico
• Colombia
• Chile
• Others
Market Trends
The desire for energy-efficient lighting systems has driven the growth of the Latin American smart lighting industry, which was estimated to be worth USD 4.2 billion in 2021. Additionally, it is expected that the market would expand between 2023-2028 due to the augmented purchasing power of consumers due to a rise in disposable income and gauging potential of high requisition for remodelling smart homes as per consumer preferences. Other significant aspects influencing the market for smart lighting include the advent of smart cities, infrastructure improvement, and green construction initiatives.
Further, the development of the revenue share of key players like GE and Honeywell is also being significantly ameliorated by high-scale investments in a variety of smart lighting projects by the regional government in Latin American nations, including Brazil, Argentina, Colombia, and Mexico. Also, the government support and topmost companies’ collaborative efforts for enhanced product development and launches are aiding the market in long run with heightened gross profit projections.
Key Market Players
The major players in the market are:
• Signify S.A.
• Acuity Brands Lighting, Inc
• Honeywell
• Legrand S.A.
• OSRAM GmbH
• Cree Lighting
• General Electric Company
• Others
The insights in the market research report provide growth possibilities, socio-political environment factors affecting the market, launches of products, new entrants dominating the market, and the presence of key companies driving the industry.
About Us
Informes de Expertos, the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
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