Today, lighting is responsible for 5% of worldwide CO2 emissions. World's electricity demand for lighting attained 2,900 tera-watt-hours (TWh) corresponding to a global light energy production of 215 Plmh (peta-lumen-hours). It is foreseen that in 2040 the needs for electric lighting will increase by ~32% to reach 285 Plmh. The challenge for the next decade will be to harness the increase of electrical electricity use for lighting. Only light source technology evolutions are not sufficient to stem uncontrollable growth. Even the best commercialized LED lamps which are almost 2 times more efficient than fluorescent tubes, are not sufficient to inhibit the well-known rebound effect. Only a transition from the conventional analogue lighting technologies to digital lighting can help. Smart lighting will become the heart of the Internet of Things in smart cities and buildings. Smart Lighting is on the way to become the 4th revolution in the domain. It can achieve more than 40% additional energy savings and encompass rebound effect. Smart Lighting market size can exceed USD 98 billion by 2030 which is comparable to USD 134 billion revenue from global lighting industry. This paper highlights the evolutions in the domain of smart lighting technologies and its impacts.