Market Forecast By Light Source (Fluorescent Lamps, Light Emitting Diodes, High Intensity Discharge Lamps), By Product Type (Luminaries Smart Bulbs, Fixtures, Lighting Controls Led Drivers & Ballasts, Sensors, Switches & Dimmers, Relay Units, Gateways), By Communication Technology (Wired, Wireless), By Applications (Residential, Commercial, Industrial, Others) and competitive landscape
Product Code: ETC003789 | Publication Date: Aug 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Report Name | Mexico Smart Indoor Lighting MarketΒ |
Forecast period | 2024-2030 |
CAGR | 8.6% |
Growing Sector | Residential Sector |
The Mexico Smart Indoor Lighting Market thoroughly covers the market by light types, fuel types, and end users. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics
The Mexico smart indoor lighting market is projected to witness steady expansion in the coming years due to growing demand for energy-efficient and technologically advanced lighting solutions. Rising expenditures in smart home technologies, increased public awareness of the advantages of energy-efficient lighting, and government programs encouraging the use of environmentally friendly lighting solutions are some of the reasons driving the market. To further fuel the market's expansion, smart lighting solutions are also becoming more widely used in commercial settings.
According to 6Wresearch, Mexico Smart Indoor Lighting Market size is expected to grow at a significant CAGR of 8.6% during 2024-2030. This period is anticipated to see a significant rise in demand for smart indoor lighting solutions, driven by numerous factors like technological advancements, changing consumer preferences, as well as government initiatives promoting energy efficiency. The Mexico smart indoor lighting market is anticipated to experience significant growth due to several drivers. One of the primary drivers is the rising adoption of smart home technology in urban areas. Smart home systems allow for greater convenience, security, as well as energy efficiency, leading to an expanding demand for smart lighting solutions. Additionally, the increasing focus on improving user experience and decreasing energy consumption are also driving the market growth.
Key players in the Mexico smart indoor lighting market include major industry leaders such as Philips Lighting, Osram GmbH, Legrand SA, Acuity Brands, and Lutron Electronics. These companies are actively investing in research and development to create innovative products that offer advanced features and improved performance. By doing so, they aim to secure a competitive edge in the rapidly evolving market. Additionally, these firms are forming strategic partnerships and collaborations with other industry players to broaden their product portfolios, enhance market presence, and better serve a diverse customer base.
The Mexican government is actively working to boost energy efficiency and support sustainable lighting solutions through a series of targeted initiatives. The National Energy Strategy aims to achieve a 25% reduction in electricity consumption by 2030 by encouraging the widespread adoption of energy-efficient technologies. Complementing this effort, the National Program for Efficient Use of Energy promotes the integration of energy-efficient lighting solutions in residential and commercial buildings. These initiatives are designed to reduce overall energy use, cut down on electricity costs, and minimize the environmental impact. By fostering the transition to more sustainable practices, the government aims to enhance energy conservation and support long-term ecological goals.
The Mexico smart indoor lighting market is poised for substantial growth in the near future, fueled by rapid technological advancements and heightened consumer awareness regarding energy conservation. As IoT technology continues to evolve, there is an anticipated surge in demand for wireless lighting control systems, which offer enhanced convenience and efficiency. Additionally, the integration of voice-controlled assistants and smart sensors into lighting solutions is expected to further propel market expansion by providing users with greater control and customization. These innovations not only improve energy efficiency but also contribute to the growing trend of smart home technology, driving increased adoption in the market.
LED technology is expanding quickly in the industry. This is explained by their cheaper maintenance costs, longer longevity, and greater energy efficiency when compared to other kinds of light sources. For extra convenience, LEDs may be easily integrated with smart technology and offer a wide range of design options.
Lighting controls are a market category in Mexico's smart indoor lighting industry that is rapidly expanding. This is explained by the rising demand in both residential and commercial settings for automated and adjustable lighting solutions. With technological developments and the incorporation of the Internet of Things (IoT)
The commercial segment is anticipated to experience the highest growth rate during the forecast period. This is explained by the increasing number of offices, retail establishments, and other commercial locations implementing smart interior lighting systems. These systems are a desirable alternative for companies trying to save operating expenses because they offer more control over lighting levels and use less energy.
The report offers a comprehensive study of the subsequent market segment:
Table of Contents |
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Mexico Smart Indoor Lighting Market Overview |
3.1. Mexico Country Macro Economic Indicators |
3.2. Mexico Smart Indoor Lighting Market Revenues & Volume, 2020 & 2030F |
3.3. Mexico Smart Indoor Lighting Market - Industry Life Cycle |
3.4. Mexico Smart Indoor Lighting Market - Porter's Five Forces |
3.5. Mexico Smart Indoor Lighting Market Revenues & Volume Share, By Light Source, 2020 & 2030F |
3.6. Mexico Smart Indoor Lighting Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.7. Mexico Smart Indoor Lighting Market Revenues & Volume Share, By Communication Technology, 2020 & 2030F |
3.8. Mexico Smart Indoor Lighting Market Revenues & Volume Share, By Applications, 2020 & 2030F |
4. Mexico Smart Indoor Lighting Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Mexico Smart Indoor Lighting Market Trends |
6. Mexico Smart Indoor Lighting Market, By Types |
6.1. Mexico Smart Indoor Lighting Market, By Light Source |
6.1.1 Overview and Analysis |
6.1.2. Mexico Smart Indoor Lighting Market Revenues & Volume, By Light Source, 2020 - 2030F |
6.1.3. Mexico Smart Indoor Lighting Market Revenues & Volume, By Fluorescent Lamps, 2020 - 2030F |
6.1.4. Mexico Smart Indoor Lighting Market Revenues & Volume, By Light Emitting Diodes, 2020 - 2030F |
6.1.5. Mexico Smart Indoor Lighting Market Revenues & Volume, By High Intensity Discharge Lamps, 2020 - 2030F |
6.2. Mexico Smart Indoor Lighting Market, By Product Type |
6.2.1. Overview and Analysis |
6.2.2. Mexico Smart Indoor Lighting Market Revenues & Volume, By Luminaries Smart Bulbs, 2020 - 2030F |
6.2.3. Mexico Smart Indoor Lighting Market Revenues & Volume, By Fixtures, 2020 - 2030F |
6.2.4. Mexico Smart Indoor Lighting Market Revenues & Volume, By Lighting Controls Led Drivers & Ballasts, 2020 - 2030F |
6.2.5. Mexico Smart Indoor Lighting Market Revenues & Volume, By Sensors, 2020 - 2030F |
6.2.6. Mexico Smart Indoor Lighting Market Revenues & Volume, By Switches & Dimmers, 2020 - 2030F |
6.2.7. Mexico Smart Indoor Lighting Market Revenues & Volume, By Relay Units, 2020 - 2030F |
6.3. Mexico Smart Indoor Lighting Market, By Communication Technology |
6.3.1. Overview and Analysis |
6.3.2. Mexico Smart Indoor Lighting Market Revenues & Volume, By Wired, 2020 - 2030F |
6.3.3 Mexico Smart Indoor Lighting Market Revenues & Volume, By Wireless, 2020 - 2030F |
6.4. Mexico Smart Indoor Lighting Market, By Applications |
6.4.1. Overview and Analysis |
6.4.2. Mexico Smart Indoor Lighting Market Revenues & Volume, By Residential, 2020 - 2030F |
6.4.3. Mexico Smart Indoor Lighting Market Revenues & Volume, By Commercial, 2020 - 2030F |
6.4.4. Mexico Smart Indoor Lighting Market Revenues & Volume, By Industrial, 2020 - 2030F |
6.4.5. Mexico Smart Indoor Lighting Market Revenues & Volume, By Others, 2020 - 2030F |
7. Mexico Smart Indoor Lighting Market Import-Export Trade Statistics |
7.1. Mexico Smart Indoor Lighting Market Export to Major Countries |
7.2. Mexico Smart Indoor Lighting Market Imports from Major Countries |
8. Mexico Smart Indoor Lighting Market Key Performance Indicators |
8.1. Mexico Residential Sector Outlook |
8.2. Mexico Commercial Sector Outlook |
8.3. Mexico Industrial Outlook |
8.4. Mexico Government Spending Outlook |
8.5. Mexico Transport & Infrastructure Outlook |
9. Mexico Smart Indoor Lighting Market - Opportunity Assessment |
9.1. Mexico Smart Indoor Lighting Market Opportunity Assessment, By Light Source, 2020 & 2030F |
9.2. Mexico Smart Indoor Lighting Market Opportunity Assessment, By Product Type, 2020 & 2030F |
9.3. Mexico Smart Indoor Lighting Market Opportunity Assessment, By Communication Technology, 2020 & 2030F |
9.4. Mexico Smart Indoor Lighting Market Opportunity Assessment, By Applications, 2020 & 2030F |
10. Mexico Smart Indoor Lighting Market - Competitive Landscape |
10.1. Mexico Smart Indoor Lighting Market Revenue Share, By Companies, 2023 |
10.2. Mexico Smart Indoor Lighting Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |