Connected Lighting Platform Market Growth Analysis Report, Forecast to 2031

The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Connected Lighting Platform Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period 2021 to 2031.
Impact of COVID-19 Pandemic Outbreak on Connected Lighting Platform Market
COVID-19 pandemic has set the economy of the world back by many years and has impacted almost every sector. Pandemic has hugely affected the lighting industry because China, a major supplier of raw materials for finished electronic component is suffering from production losses, supply disruption, and price fluctuations.
Due to pandemic the lighting industry may witness the growth around 12% to 15% which was expected to witness growth of 20% t0 25% before COVID-19.
Connected Lighting Platform Market: – Regional Analysis
Connected lighting platform market dominated in North America and Europe in terms of revenue in 2019, owing to increasing adoption of smart LED’s in the region. South Asia & Pacific is estimated to witness high growth owing to increasing investment by government on public infrastructure are increasing the growth of the market in the region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Connected Lighting Platform market.
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