According to a recent report by Meticulous Research®, the smart lighting market is projected to grow at a compound annual growth rate (CAGR) of 12.2% from 2022 to 2029, reaching an estimated value of $39.91 billion by the end of the forecast period. This rapid market expansion is driven by the increasing demand for IoT-enabled lighting fixtures and smart lighting solutions, as well as the rising focus on energy-efficient lighting systems. Additionally, the growing adoption of smart homes and the ongoing shift from traditional lighting to connected solutions are key factors boosting market growth.
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