Climate change is one of the largest global threats. Smart Lighting has seen a series of robust developments, including the widespread adoption of LEDs, which have created a new age of energy efficiency, lighting customization, and IoT data collection-reconfiguring how we engage with, manage, and integrate lights into our day-to-day activities. Smart lighting has a simple, yet expansive goal-to help clients improve their energy efficiency and lighting operations. In recent years, this has led to novel lighting features that have supported the rise of asset tracking and further integrated building management systems, making Smart Lighting the fastest growing segment in the lighting industry. Smart Lighting is a subset of the Cleantech and PropTech sectors. Commercial and Industrial enterprises make up a very large percentage of total electricity consumption. Small improvements in the energy efficiency of these facilities can have a significant impact on overall energy consumption.
Our portfolio company Digital Lumens Inc., for example, helps customers install an array of integrated lighting solutions and asset tracking sensors. These are connected by a simple, centralized software platform-enabling them to identify energy cost savings and increase visibility into their daily operations. Their Digital Lumens brand serves the industrial sector while the Encelium brand serves the commercial lighting segment. The sector benefits from the increased use of IoT to assist data-driven decision making as well as the focus on environmental consciousness to mitigate excess cost/energy expenditures of lighting and other infrastructure systems.
"Software is revolutionizing the lighting industry. New technologies in cloud, wireless, and sensors allow companies to manage their office lighting environments more efficiently.