Global Lighting Control System Market Size, Status and Forecast 2021-2025
The Lighting Control System Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the Lighting Control System.
The lighting control system market is expected to reach USD 50.06 billion in 2025 from USD 19.69 billion in 2019, witnessing a CAGR of 16.99%, during the forecast period (2020 – 2025).
– The improved connectivity and advancements in technologies solutions have increased the adoption of smart lighting controlling system, globally. Wireless technologies, such as ZigBee and bluetooth, have made installations of smart lighting controlling system seamless across various spaces.
– Moreover, the concept of smart cities is also increasing in different regions and this movement is supported by many government initiatives. As a smart city consists of a connected system, the general lighting application in the smart city requires automated lighting systems. These automated lighting systems use sensor-based control systems.
– For instance, in April 2018, the Council of Australian Governments Energy Ministers have announced to replace halogen lamps with LED lamps to improve energy efficiency.
– However, on the flip side, wireless connections can be unreliable at times and ongoing maintenance are the factors hampering the overall growth of the market. The initial set up cost is also high, which is a major challenge in the large-scale adoption of lighting control systems.
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Top Leading Companies of Global Lighting Control System Market are General Electric Company, Philips Lighting NV, Eaton Corporation PL, Honeywell International Inc., Acuity Brands Inc., Cree Inc., Lutron Electronics Co. Inc., Leviton Manufacturing Company Inc., Digital Lumens Inc., WAGO Corporation, Infineon Technologies, Schneider Electric, Cisco Systems Inc., Taiwan Semiconductor, Toshiba and others.
Industry News and Updates:
– June 2018 – Honeywell launched a suite of next-generation energy management software, smart lighting, voice controls, and secure cloud communication systems. With these technologies, the hospitality industry can fully integrate energy management, safety and security systems, property management, and brand network operations for world-class guestroom and building automation.
Key Market Trends:
Smart City Development Initiatives to Drive the market for Smart Lighting
– According to the United Nations Human Settlements Program, cities consume 78% of the world’s energy and Philips also predicted that by 2050, 66% of the population may live in cities, due to urbanization. These have resulted in smart cities, where smart cities rely on IoT, where everything is dependent on each other. From streets lights to traffic signals and beyond. Smart lighting can be a backbone for a smart city network.
– Nowadays, most cities that install new smart lighting or retrofit existing fixtures choose systems that already are equipped with sensor technology or that can be upgraded easily to utilize the advantages of IoT applications.
– For instance, in February 2018, London worked on an innovative lighting strategy that would use smart lighting to cut energy and light pollution, and manage light levels and color at different times of the day.
Asia-Pacific to Witness the Fastest CAGR
– The growth in Asia-Pacific is attributed to the rapid infrastructure building activities being undertaken in the region, mainly in China where lighting control systems pave the way for the modernization of infrastructure. It is anticipated to consume more energy resources in the longer run, especially with the growing energy demand from the developing countries, such as China and India. The lighting segment usually consumes the majority of the electricity in a commercial building and draws substantial energy levels for a private residence.
– Apart from this the increasing awareness regarding the efficiency of the connected lighting system in the emerging countries, like China, India, and Taiwan, is enabling significant cost savings through optimal energy consumption.
– India is making an affirmative shift from using conventional lighting to LED and energy efficient smart lights. Due to this change, India is perceived as a market with great potential for international and domestic manufacturers alike.
– According to a report by ELCOMA, the lighting industry is expected to reduce energy consumption for lighting from the present 18% of total power consumption to 13% by 2020, by introducing more energy efficient products and working more closely with the government to execute various schemes and awareness programs.
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Highlights of the Lighting Control System Market Report:
– Detailed overview of Lighting Control System Market
– Changing the Lighting Control System market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Lighting Control System market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Lighting Control System Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Lighting Control System Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Lighting Control System industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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