Lucintel's latest market report analyzed that wired technology in the global smart lighting provides attractive opportunities in indoor and outdoor end uses. The wired technology in the global smart lighting market is expected to reach $8.7 billion by 2028 with a CAGR of 4.8%. In this market, new installation is the largest segment by installation type, whereas indoor is largest by end use.
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Based on installation type, the wired technology in the global smart lighting market is segmented into new installation and retrofit installation. The new installation 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 growing usage in the new constructed commercial buildings as it enables no signal interference with wire controls.
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The Wired Technology in the Global Smart Lighting Market is marked by the presence of several big and small players. Some of the prominent players offering wired technology in the global smart lighting include Schneider Electric SA, Cisco Systems, Honeywell, Signify Holding, and Eaton.
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