Lighting Control System Market Size To Expand at a Notable CAGR Of 18% During 2018 - 2023

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Lighting Control System Market.

Overview:

Market Research Future (MRFR) has announced the launch of a new release on the global lighting control system market. The report provides a comprehensive outlook on the global lighting control system market’s growth over the forecast period from 2017 to 2023 based on a solid analysis of the market’s historical data and growth trajectory. The market is expected to reach a valuation of USD 39 billion over the forecast period, displaying a strong CAGR of 18% therein.

Lighting control systems are smart systems that allow users to remotely control the intensity of lighting in a given space. The systems use various wireless connectivity technologies such as Bluetooth and Wi-Fi to provide users the ability to control the lighting in their home or office space from a simple smartphone app or other platforms. These lighting control systems can also be used for public lighting, such as on roads and railways. The ability to remotely control lighting systems makes it more convenient for users, as well as making the process more environmentally viable by reducing the total amount of electrical power used.

The increasing emphasis on energy conservation is likely to be a major driver for the lighting control system market, especially in public sector applications. The high volume of lighting used in public sector applications such as road lighting and public transportation systems makes lighting control systems a highly viable option, as the cumulative impact of lighting control systems is highly promising in these situations. In residential settings, lighting control systems are often presented as a convenience and amenity, as they also allow users to dim and brighten their lights as per their need. This is also likely to be a major driver for the global lighting control system market over the forecast period, as residential customers are becoming increasingly affluent even in developing regions and are looking for more advanced technologies to enhance their living experience.

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Segmentation:

The global lighting control system market is segmented on the basis of component, technology, application, and region in the report in order to provide a clear picture of the granular structure of the market.

By component, the global lighting control system market is segmented into hardware, software, and services. Within this, the hardware segment is further subcategorized as switches, sensors, dimmers, LED drivers, and others. Software segments in the lighting control system market include cloud-based and web-based. The services segment is further sub-segmented into professional services, managed services, maintenance services, and others.

By technology, the global lighting control system market is segmented into Bluetooth, Wi-Fi, PLC, POE, ZigBee, and others.

By application, the global lighting control system market is segmented into residential, commercial, industrial, highways, roadways, railways, and others.

Regional Analysis

The global lighting control system market is segmented into North America, Europe, Asia Pacific, and rest of the world.

Asia Pacific is likely to remain the dominant contributor to the global lighting control system market over the forecast period due to the growing infrastructure activities in rapidly emerging economies such as China and India. These infrastructure initiatives are often performed with the latest technology to save on upgrade costs in the future, leading to growing use of lighting control systems in the region. The growing residential sector in the region could also provide significant sales revenue for the lighting control system market, although the residential sector in Asia Pacific still lags behind the residential sector in developed regions such as North America and Europe.

North America is also likely to remain a major regional segment of the global lighting control systems market over the forecast period due to the increasing demand for energy-efficient products and the increasing adoption of smart homes. The increasing adoption of IoT technology in North America has also made it easier for consumers to install and operate advanced lighting control systems.

Competitive Analysis:

Key players in the global lighting control system market include Philips Lighting NV, Legrand SA, Acuity Brands Inc., Cree Inc., Leviton Manufacturing Company Inc., Lutron Electronics Co. Inc., OSRAM Licht AG, Eaton Corporation, and General Electric.

Industry Updates:

In January 2019, Vista Professional Outdoor Lighting released a new Wi-Fi-based lighting controller called LCS WiFi Lighting Control System. The system is cloud-based and can be controlled via a free downloadable mobile app.