According to the International Energy Agency, 35% of the energy can be saved when using smart lighting systems, compared to conventional ones. This has become important since lighting consumes most of the electricity in the industrial, commercial, and residential sectors. It is also predicted that in the coming 20 to 25 years, electricity consumption will increase by more than 50% in Saudi Arabia, in part, due to the rising demand for lighting systems. Moreover, lighting accounts for 5% of the greenhouse gas emission in the country; hence, the adoption of LEDs is rising as they are eco-friendly.
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| Saudi Arabia Lighting Market Segmentation Analysis Report |
Environmental issues and the shifting inclination of consumers toward smart homes are also propelling the demand for smart lighting in Saudi Arabia. The government also supports the adoption of smart homes as they help in reducing energy consumption and offer people security and easy remote control. These factors will drive the Saudi Arabian lighting market at a CAGR of 10.2% in the coming years. According to P&S Intelligence, in 2020, the market was valued at $1,350.0 million, and the number will rise to $1,350.0 million by 2030.
Get More Insights: Saudi Arabia Lighting Market Segmentation Analysis Report
Lights can be wired or wireless in the way they are controlled, of which wireless lights are expected to gain rapid popularity in the coming years. It can be ascribed to the fact that there is no use of wires in such lights, and the lights, sensors, and a central control unit operate the entire system, to work smoothly. This technology also offers better and easy installations. A wireless lighting system can support a broader range of distance than the wired one, allowing users to position their lights to save more energy and money.
Be it wireless or wired, a complete lighting system has a fixture and control, of which fixtures witness the higher sales in the kingdom. The fixtures, which are the lights themselves and the enclosure in which they are housed or fixed, come in the LED, CFL, plasma, high-intensity discharge, and OLED variants. This was due to the enhancing performance of these devices without an increase in their maintenance costs. Additionally, the fixture is the primary component of a lighting system, being the lighting enclosure and device itself.
In Saudi Arabia, the demand for lighting fixtures and controls has traditionally been the highest in the residential sector. In present times, it is because Saudi Arabia is witnessing comparatively strong consumer income growth than earlier. This is changing the lifestyle of the people, who are now inclining toward using advanced technologies. In addition, the surging environmental concerns are helping the Saudi Arabian lighting market advance by driving the demand for LED and smart lights in residences.
Therefore, it can be said that the surging requirement for smart homes and the increasing need for LEDs will propel the demand for lighting in Saudi Arabia in the coming years.
