Summary

Smart lighting is a relatively new concept in Colombia, but it is growing in popularity due to its energy-saving potential and convenience. The market is expected to grow in the coming years, driven by the increasing adoption of smart home technologies and the government's initiatives to promote energy efficiency. As more households in Colombia adopt smart home technologies, such as voice assistants, smart thermostats, and smart security systems, the demand for smart lighting systems is also increasing. Smart lighting can be easily integrated into existing smart home systems, which makes it an attractive option for consumers. Smart lighting systems are designed to be more energy-efficient than traditional lighting systems, which can help households and businesses save on their energy bills. This is particularly important in Colombia, where electricity prices are relatively high. The Colombian government has implemented various initiatives and programs to encourage the adoption of energy-efficient technologies for smart lighting. The government has launched the "Colombia Removable programs, which aims to promote the use of renewable energy sources and energy efficient technologies. One of the major technological trends propelling the smart lighting market in Colombia is the integration of IoT. Smart lighting systems that use IoT technology allow users to control the lighting remotely, using smartphones or other devices. This allows for greater flexibility and convenience and can help to save energy.

According to the research report "Colombia Smart Lighting Market Overview, 2028," published by Bonafide Research, the Colombia Smart Lighting Market is anticipated to reach size of more than USD 330 Million by 2028. Smart lighting systems developed as a feasible alternative to traditional lighting systems as LED lighting technology continued to evolve. The first smart lighting systems were developed in Colombia in the early 2010s, and they were largely utilised to increase energy efficiency and lower operating costs in commercial and industrial settings. Smart lighting systems evolved throughout time, including advanced features such as wireless connectivity, IoT integration, and voice control. As a result, when customers became more aware of the benefits of smart lighting systems, they began to gain favour in the home market. Today, the Colombian smart lighting market is expanding as a result of technological improvements, increased acceptance of smart home technologies, and government programmes to encourage energy conservation. Smart lighting solutions are becoming more affordable, and their ability to save energy is being recognised more extensively. As a result, the adoption of smart lighting systems is likely to expand in the next few years, making them an essential aspect of Colombia's lighting industry. The city of Bogota has implemented a range of smart lighting projects in public spaces, such as parks, places and pedestrian walkways. The smart lighting systems are designed to be energy-efficient, enhance the safety and security of public spaces. Furthermore there are more different cities in Argentina where smart lighting system are used includes, Medlin, Cali, Barranquilla.

According to the research, the market is divided into offerings, hardware, software and services. The software offerings are expected to gain maximum growth rate with highest CAGR in the upcoming time period. Cloud-based software offerings for smart lighting systems are becoming more popular in Colombia as consumers look for solutions that offer more flexibility and scalability. Cloud-based software allows users to access their lighting systems from anywhere, using a range of devices, and enables remote control and management of lighting systems. Furthermore, IoT technology is gaining popularity in Colombia, as consumers and businesses look for ways to connect and control a range of devices and services. Smart lighting systems that use IoT technology can be integrated with other IoT devices and services, providing users with a more seamless and integrated experience. Software-based smart lighting systems can provide advanced customization and personalization options, allowing users to create unique lighting scenes and schedules based on their preferences and needs. This level of personalization is becoming increasingly important to consumers, particularly in residential and commercial settings.

There are several events related to smart lighting that take place in Colombia each year. These events provide a platform for industry professionals, researchers, and policymakers to share knowledge and insights about the latest trends and developments in the smart lighting sector. Expolux Colombia is a trade fair focused on lighting technology, including smart lighting solutions. The event brings together lighting manufacturers, distributors, and professionals from across the region to showcase the latest lighting products and technologies. Smart City Expo Colombia is an event focused on promoting the development of smart cities in Colombia. The event includes a range of sessions and workshops focused on topics such as smart lighting, energy efficiency, and sustainability. LED Forum Colombia is an event focused specifically on LED lighting technology, including smart lighting solutions. The event includes presentations and discussions about the latest trends and innovations in the LED lighting sector.

Based on the report, the market is segmented into installation type, new and retrofit. The New installation is dominating the market of smart lighting in Colombia with highest market share. Colombia's construction industry is growing rapidly, which is driving demand for new lighting installations in both residential and commercial buildings. New buildings and facilities are being built with the latest smart lighting technology, which is contributing to the growth of new installations in the market. As awareness of the benefits of smart lighting technology increases, more consumers and businesses are choosing to install smart lighting systems in their new buildings and facilities. Smart lighting technology offers greater control, customization, and energy efficiency, which is attractive to a growing number of consumers and businesses. New installations of smart lighting systems can be more cost-effective than retrofit installations. Installing smart lighting technology during the construction phase can be less disruptive and more efficient than retrofitting existing lighting systems, which can make it a more attractive option for builders and developers.

Start-ups:
• LumniTech: LumniTech is a Colombian start-up that specializes in the development of smart lighting solutions for commercial and industrial buildings. Their products include smart LED lighting fixtures, lighting controls, and energy management software.
• XpectrumTech: XpectrumTech is a Colombian start-up that specializes in the development of smart lighting solutions for urban environments. Their products include LED streetlights, smart lighting controls, and sensors for monitoring traffic and environmental conditions.
• Dacrolux: Dacrolux is a Colombian start-up that develops and manufactures smart LED lighting solutions for residential and commercial buildings. Their products include smart LED bulbs, lighting controls, and wireless sensors.
• Green Lumina: Green Lumina is a Colombian start-up that specializes in the development of energy-efficient lighting solutions for commercial and industrial buildings. Their products include smart LED lighting fixtures, lighting controls, and energy monitoring software.

Considered in this report
• Geography: Colombia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Colombia Smart Lighting market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Offerings
• Hardware
• Software
• Services

By Application
• Indoor
• Outdoor

By Indoor Application
• Commercial
• Residential
• Industrial
• Others

By Outdoor Application
• Highways & Roadways
• Architectural Lighting
• Lighting for Public Places

By Installation Type
• New
• Retrofit

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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