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: ETC003826 | Publication Date: Aug 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Vietnam Smart Indoor Lighting Market |
Forecast period | 2025-2031 |
CAGR | 26% |
Growing Sector | LED segment |
The Vietnam Smart Indoor Lighting Market report thoroughly covers the market by light source, product types, communication technology and applications. 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 Vietnam Smart Indoor Lighting Market is expected to experience a steady growth during the forecast period. This growth can be attributed to the increasing demand for efficient and eco-friendly lighting solutions, as well as the rapid urbanization and infrastructure development in Vietnam.
According to 6Wresearch, Vietnam Smart Indoor Lighting Market size is expected to grow at a CAGR 26% during 2025-2031. The growing popularity of smart home technologies is one of the main factors propelling the Vietnamese market for smart indoor lighting. The demand for connected gadgets that provide convenience and control at the push of a button has significantly increased due to the rise in internet users and smartphone penetration in the nation. This trend is well suited for smart interior lighting systems, which enable users to remotely control their lights via smartphones or even voice commands via virtual assistants like Google Assistant and Amazon's Alexa.
The increased concern for energy saving is another factor propelling the market. The Vietnamese government has launched a number of programs to encourage the adoption of energy-efficient lighting options in an effort to lower carbon emissions and achieve sustainable development objectives. The need for intelligent interior lighting solutions that provide better energy management and lower electricity costs has increased as a result.
Some of the key players operating in the Vietnam smart indoor lighting market include Philips Lighting, Osram, Schneider Electric, General Electric, Honeywell International Inc., Cree, Hubbell Lighting Inc., Lutron Electronics Co. Inc., Acuity Brands Lighting Inc., and Legrand S.A.
The Vietnamese government has started a number of programs to encourage energy conservation and sustainable development in the nation. It authorized a national program on efficient energy usage in 2017 with the goal of reducing the nation's energy consumption by 5-7% by 2030. The program runs from 2019 to 2030. Furthermore, the government has instituted tax incentives for businesses that allocate resources towards energy-efficient technologies, such as intelligent lighting systems.
As technology becomes more widely used and sustainable development becomes more important, the Vietnam smart interior lighting market is anticipated to grow significantly over the next several years. More cutting-edge and creative solutions, like Li-Fi (light fidelity) technology, which employs light waves for wireless communication, are probably going to witness a shift in the market. Furthermore, it is anticipated that government measures to encourage energy efficiency and partnerships between major players would propel the market's growth even further. All things considered, Vietnam's smart interior lighting market appears to have a bright future ahead of it. For companies aiming to increase their market share in the nation, investing in this sector may therefore prove to be a profitable venture. There are chances for new players to enter this expanding market and challenge incumbent competitors with creative ideas.
According to Dhaval, Research Manager, 6Wresearch, the Light emitting diodes (LEDs) are the fastest-growing segment in terms of demand in the Vietnam smart indoor lighting market. This can be attributed to their numerous advantages such as energy efficiency, longer lifespan, and versatility in design. LEDs also offer a wide range of color options and can be easily integrated with other smart home systems, making them a popular choice among consumers. Additionally, government initiatives promoting the use of energy-efficient lighting solutions have further boosted the demand for LED-based smart indoor lighting systems. As a result, this segment is expected to witness significant growth in the coming years as well.
The lighting controls segment is expected to experience high demand growth in the Vietnam smart indoor lighting market. This can be attributed to the increasing trend of connected homes and smart home automation, which allows users to control their lights remotely through their smartphones or voice commands. Lighting controls such as sensors, switches, dimmers, and gateways offer convenience and energy management solutions for consumers, making them a popular choice in the market. With the growing adoption of smart home technologies in Vietnam, the demand for lighting controls is expected to increase significantly in the coming years.
The wireless communication technology segment is expected to witness high demand growth in the Vietnam smart indoor lighting market. This can be attributed to its convenience, flexibility, and scalability compared to wired communication technology. Wireless systems allow for easy installation and flexible control options, making them a popular choice among consumers. With the increasing adoption of smart home technologies and the growing trend of connected homes in Vietnam, the demand for wireless communication technology is likely to grow in the future. Therefore, it can be said that the wireless segment is currently experiencing high demand in the Vietnamese smart indoor lighting market.
The residential segment is expected to witness high demand growth in the Vietnam smart indoor lighting market. This can be attributed to the increasing adoption of smart home technologies and the growing trend of connected homes among consumers. Smart indoor lighting systems offer convenience, energy efficiency, and customization options for residential spaces, making them a popular choice in this segment. With the rising focus on sustainable development and government initiatives promoting energy efficiency in households, the demand for smart indoor lighting solutions is expected to grow significantly in the coming years. Thus, it can be concluded that the residential segment is currently experiencing high demand in the Vietnamese smart indoor lighting market.
The Venezuela Smart Indoor Lighting Market report provides a detailed analysis of the following market segments:
Fluorescent Lamps
Light Emitting Diodes
High Intensity Discharge Lamps
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. Vietnam Smart Indoor Lighting Market Overview |
3.1. Vietnam Country Macro Economic Indicators |
3.2. Vietnam Smart Indoor Lighting Market Revenues & Volume, 2021 & 2031F |
3.3. Vietnam Smart Indoor Lighting Market - Industry Life Cycle |
3.4. Vietnam Smart Indoor Lighting Market - Porter's Five Forces |
3.5. Vietnam Smart Indoor Lighting Market Revenues & Volume Share, By Light Source, 2021 & 2031F |
3.6. Vietnam Smart Indoor Lighting Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.7. Vietnam Smart Indoor Lighting Market Revenues & Volume Share, By Communication Technology, 2021 & 2031F |
3.8. Vietnam Smart Indoor Lighting Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4. Vietnam Smart Indoor Lighting Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Vietnam Smart Indoor Lighting Market Trends |
6. Vietnam Smart Indoor Lighting Market, By Types |
6.1. Vietnam Smart Indoor Lighting Market, By Light Source |
6.1.1 Overview and Analysis |
6.1.2. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Light Source, 2021-2031F |
6.1.3. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Fluorescent Lamps, 2021-2031F |
6.1.4. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Light Emitting Diodes, 2021-2031F |
6.1.5. Vietnam Smart Indoor Lighting Market Revenues & Volume, By High Intensity Discharge Lamps, 2021-2031F |
6.2. Vietnam Smart Indoor Lighting Market, By Product Type |
6.2.1. Overview and Analysis |
6.2.2. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Luminaries Smart Bulbs, 2021-2031F |
6.2.3. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Fixtures, 2021-2031F |
6.2.4. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Lighting Controls Led Drivers & Ballasts, 2021-2031F |
6.2.5. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Sensors, 2021-2031F |
6.2.6. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Switches & Dimmers, 2021-2031F |
6.2.7. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Relay Units, 2021-2031F |
6.3. Vietnam Smart Indoor Lighting Market, By Communication Technology |
6.3.1. Overview and Analysis |
6.3.2. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Wired, 2021-2031F |
6.3.3 Vietnam Smart Indoor Lighting Market Revenues & Volume, By Wireless, 2021-2031F |
6.4. Vietnam Smart Indoor Lighting Market, By Applications |
6.4.1. Overview and Analysis |
6.4.2. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Residential, 2021-2031F |
6.4.3. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Commercial, 2021-2031F |
6.4.4. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Industrial, 2021-2031F |
6.4.5. Vietnam Smart Indoor Lighting Market Revenues & Volume, By Others, 2021-2031F |
7. Vietnam Smart Indoor Lighting Market Import-Export Trade Statistics |
7.1. Vietnam Smart Indoor Lighting Market Export to Major Countries |
7.2. Vietnam Smart Indoor Lighting Market Imports from Major Countries |
8. Vietnam Smart Indoor Lighting Market Key Performance Indicators |
8.1. Vietnam Residential Sector Outlook |
8.2. Vietnam Commercial Sector Outlook |
8.3. Vietnam Industrial Outlook |
8.4. Vietnam Government Spending Outlook |
8.5. Vietnam Transport & Infrastructure Outlook |
9. Vietnam Smart Indoor Lighting Market - Opportunity Assessment |
9.1. Vietnam Smart Indoor Lighting Market Opportunity Assessment, By Light Source, 2021 & 2031F |
9.2. Vietnam Smart Indoor Lighting Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.3. Vietnam Smart Indoor Lighting Market Opportunity Assessment, By Communication Technology, 2021 & 2031F |
9.4. Vietnam Smart Indoor Lighting Market Opportunity Assessment, By Applications, 2021 & 2031F |
10. Vietnam Smart Indoor Lighting Market - Competitive Landscape |
10.1. Vietnam Smart Indoor Lighting Market Revenue Share, By Companies, 2024 |
10.2. Vietnam Smart Indoor Lighting Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |