Connected Lighting Market Insights Video

According to Cognitive Market Research, the global Connected Lighting market size was USD 16245.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 22.50% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 6498.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.7% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4873.56 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3736.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.5% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 812.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 324.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.2% from 2024 to 2031.
• The residential lighting category is the fastest growing segment of the Connected Lighting industry