Market Trends

According to the International Energy Association (IEA), the global electricity demand had risen by 4% or 940 TWh in 2018, which is two times the demand upsurge for overall energy.   The growing concern pertaining to energy consumption is leading to a demand influx in the market of the energy-saving products that also include smart lighting which can significantly reduce the quantity of power consumption. Hence, the vendors manufacturing smart lighting are reaping benefits, and conspicuously so when the global  smart lighting market   size was gauged at $6.87 billion as of 2018. Furthermore, the opportunities are projected to catapult at a progressive compound annual growth rate (CAGR) of 22.67% during the forecast period of 2019 to 2025. Request Sample The increased growth prospects for the vendors in the APAC smart lighting market is attributed to the infrastructural development in the region with an enormous amount of projects cropping up in the residential real estate and industria