Market Overview - The smart lighting market size reached USD 27.52 billion in 2026 and is projected to grow to USD 67.83 billion by 2031, registering a robust 19.77% CAGR during the forecast period [1] - The industry is benefiting from increased investments in smart cities, automation of commercial buildings, and integration with IoT, AI, and cloud-based platforms [2] Key Drivers - Utility-backed efficiency programs are accelerating smart lighting adoption, focusing on lighting upgrades as a cost-effective way to manage demand and stabilize grids [3] - Falling LED prices are improving the return on investment for smart lighting deployments, making high-performance LED fixtures more accessible [4] - The expanding smart-home ecosystem and national net-zero building codes are also driving market growth [6] Adoption Trends - The Asia-Pacific region plays a central role in the smart lighting landscape, supported by large-scale manufacturing capabilities and rapid urban development [12] - Regions like the Middle East and parts of Africa are emerging as faster adopters due to government-led smart city programs [13] Market Segmentation - The market is segmented by product type, installation type, connectivity technology, and end-user categories, including residential, commercial, and industrial applications [8][9]