Smart Lighting & Control Market is Headed to Cross $60 Billion Mark by 2021

Pune, India, July 15, 2016, 2016/MRFR Press Release/- Market research future published a cooked research report on Global Smart Lighting & Control Market that contains the information from 2011 to 2016. 

The Smart Lighting & Control Market is expected to grow with the CAGR of more than 17% from 2015 to 2021, and with this it is predictable to cross USD $60 billion by 2024. The various major factors such as continuously declining average selling price (asp) of led bulbs, influx of smart apps, internet of things and remote access & control by software providers, and market also address the current issue of global energy crisis are driving the growth of the market.

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Commercial segments are the one of largest consumer of smart lighting & control market

With the rise for the commercial uasage, commercial segment for smart lighting & control market is projected to be the fastest-growing market during the period 2016 to 2021.

The penetration of LED lighting for the cmmercial segment continues to increase as there are plenteous advancements lightning in controls technology and a dip in for the bulk purchases prices. Sectors like hospitality, retail, office buildings, and institutional application areas, commercial segment automatically becomes the dominant revenue generator for the smart lighting and control application market. Furtheremore, the latest trend of controlling and managing HVAC systems is now well settled among the consumers of this application area and with time, expectations are increasingly becoming focused on controlling lighting systems.

Europe is expected to give high competition to the North America. However, APAC will be the fastest growing market

North America and Europe will be close competition from 2016 to 2021. However, it is anticipated that Europe will surpass the revenue generation from North America, growing over by 2021. As of 2015/ 2016 U.S. and Canada are the leading countries with respect to revenue generation and market penetration across the globe. Though, these countries’ markets are expected to be mature, and the industry will find stagnant growth for this market

On the other hand, Asia Pacific region will be with China, India, Japn, South Korea, and Taiwan at its forefront will lead the market post 2020 and will continue with this trend through the forecast period. Also, China has been the major exporting country for LED components at a large scale with very low price compared to rest of the market.

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This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as Acuity Brands Lighting, Inc. (U.S.) ams AG (Austria), Commscope, Inc. (U.S.), Daintree Networks, Inc. (U.S.), Eaton (U.S.), Enlighted Inc (U.S.), Lutron Electronics, Inc. (U.S.), Nxp Semiconductors N.V. (Netherlands), Tvilight B.V. (Netherlands) and others

This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenerios & strategies, of the global plate heat exchanger device market, including the high-growth regions, countries and their political, economical and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.