Smart Lighting Market To Reap Excessive Revenues By 2014 - 2020
The global market for smart lighting is highly fragmented in nature. Transparency Market Research in their report observed that players in the market are spending hefty amount behind research and development to produce a more efficient product. This is helping them to expand their product portfolio. This is anticipated to intensify the competition among players to capture customer base. Established players are focusing on expanding their geographical reach. Players in the market are also working on to provide a better service. Some of the major players in the market Osram Licht AG, Honeywell International Inc., Lutron Electronics, Digital Lumens, Royal Philips N.V., and Acuity Brands. According to Transparency market Research, the global smart lighting market is prognosticated to expand a robust CAGR of 15.9% during the assessed period 2014 – 2020. The market is likely to be valued at US$ 56.6 bn by the end of the tenure period. The market on the basis of lighting typ...