Bharat Book Bureau Provides the Treding Market Research Report on "Global Intelligent Lighting Control System Market 2021-2028" under Media & Technology Category. The report offers a collection of superior market researach, market analysis, competitive intelligence and Market reports.
MARKET OUTLOOK Report intimates that the Global Intelligent Lighting Control System Market is predicted to show growth at a CAGR of 14.33% over the forecast period 2021-2028. The government’s support, a surge in electricity prices, and rising awareness pertaining to technology are significant factors that are stimulating the studied market's progress during the considered period. Also, the growth in smart homes, along with a rise in the wireless lighting control system, is opening new avenues for the intelligent lighting control system market. However, high initial investment, lack of system integration and skilled workforce, and longer breakeven period, are restraining factors that significantly weigh down the intelligent lighting control system market’s future growth.
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REGIONAL OUTLOOK The global intelligent lighting control system market includes the regions of North America, Asia-Pacific, Latin America, Europe, and Middle East and Africa. The Asia-Pacific is probable to display the fastest growth rate in the intelligent lighting control system market during the estimated period 2021-2028. In the region, the need for lower consumption of energy and CO2 emissions, rise in resistance against light pollution, and demand for reducing maintenance costs, are key factors that are anticipated to enhance the adoption of intelligent lighting systems. Moreover, the surge in retail and construction industries, along with rapid industrialization, increase the need to satisfy growing electricity demand, influencing the adoption of intelligent lighting.
Furthermore, smart buildings are more attractive for commercial property owners, as these systems run efficiently and are easier to control. Here, the government rules supporting energy-efficient lighting products and the introduction of innovative technological solutions have reformed the lighting control technology. Hence, these factors are likely to drive the global market on a growth path.
COMPETITIVE OUTLOOK The prominent market players involved in the market comprise Acuity Brands Inc, Control4 Corporation, OSRAM GmbH, Leviton Manufacturing Co Inc, Philips Lighting, LSI Industries Inc, Eaton Corporation PLC, Legrand, Cree Inc, Hubbell Incorporated, Lutron Electronics Co Inc, Schneider Electric, Enlighted Inc, and Honeywell International Inc.
Cree Inc is involved in manufacturing LED products, and comprehensive bandgap semiconductor products for RF applications. Its broad product portfolio includes power switching devices, high-brightness LEDs, lighting-class power LEDs, and others. Moreover, its solutions lead to enhancements in several applications, including wireless communications, backlighting, electronic signs, and general Illumination. Cree manufactures and sells lighting systems for both indoor and outdoor settings. It has operations globally, with its headquarter in the United States.
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vidhyanigam98 Joined: November 9th, 2019 Articles Posted: 315
