Saudi Arabia Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Saudi Arabia Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The Saudi Arabia smart lighting market size reached US$ 97.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 355.0 Million by 2028, exhibiting a growth rate (CAGR) of 24.8% during 2023-2028.

Smart-lighting is a technology designed for the efficient use of light resources through power saving fixtures with automated controls. This enables the consumer to alter ambient lighting according to the occupancy and availability of daylight. Smart-lighting products have applications in commercial, industrial and residential sectors and consist of a wall keypad and touchscreen panel that can be remotely accessed through voice command or a smartphone application. Smart lighting units use intelligent management systems to control the lights, benefitting consumers through lowered energy consumption and other economic and environmental benefits. Apart from being energy efficient, smart lighting systems provide a greater sense of security to the consumers as well. The user is also able to remotely switch on/off the house lights, giving an impression that the house is occupied.

The country’s increasing requirements for energy efficient lighting systems due to rising industrialization is among the key factors driving the Saudi Arabia smart lighting market. Moreover, factors such as increasing population, growth in the real estate sector and rising levels of urbanization are also creating a positive impact on the demand of smart lighting technology across the residential and commercial sectors. The Saudi Arabian government is also emphasizing on the adoption of smart lighting systems throughout the region in order to balance the rising energy demands and reduce operational costs. Moreover, the availability of various functionality in smart lighting technology such as sensors that can determine the occupancy of a room or a street and accordingly dim or turn off the lights, further adds to the convenience of the consumer. Additionally, acting on the Crown Prince Mohammed bin Salman Al Saud’s Vision 2030 plan, Saudi Arabia will be modernizing the infrastructure for various municipalities in the coming years. This includes the development of the Makkah and Riyadh Metro systems and an expansion to the King Abdulaziz International Airport, which are based on the smart lighting technology.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Saudi Arabia smart lighting market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on offering, communication technology, installation type, light source and application.

Breakup by Offering:

Hardware
Lights and Luminaires
Lighting Controls
Software
Services
Design and Engineering
Installation
Post-Installation

Breakup by Communication Technology:

Wired Technology
Wireless Technology

Breakup by Installation Type:

New Installation
Retrofit Installation

Breakup by Light Source:

LED Lamps
Fluorescent Lamps
Compact Fluorescent Lamps
High Intensity Discharge Lamps
Others

Breakup by Application:

Commercial
Residential
Public Infrastructure
Others

Value Chain Analysis

Key Drivers and Challenges

Porters Five Forces Analysis

PESTEL Analysis

Government Regulations

Competitive Landscape

Competitive Structure
Key Player Profiles

Key Questions Answered in This Report

1. How big is the Saudi Arabia smart lighting market?
2. What is the expected growth rate of the Saudi Arabia smart lighting market during 2023-2028?
3. What are the key factors driving the Saudi Arabia smart lighting market?
4. What has been the impact of COVID-19 on the Saudi Arabia smart lighting market?
5. What is the breakup of the Saudi Arabia smart lighting market based on the offering?
6. What is the breakup of the Saudi Arabia smart lighting market based on the communication technology?
7. What is the breakup of the Saudi Arabia smart lighting market based on the installation type?
8. What is the breakup of the Saudi Arabia smart lighting market based on the light source?
9. What is the breakup of the Saudi Arabia smart lighting market based on the application?