Global Smart Lighting & Control System Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 20th, 2018

The Lighting Control System Market increasing consumer demand for energy-efficient lighting systems, rising demand for intelligent solutions for street lighting systems and the development in IoT technology in the field of smart lighting are the major factors that are driving the growth of the market. Additionally, increasing awareness of energy management has fostered the growth of the global smart lighting controls market.

The robust demand for wireless lighting controls is growing across the globe owning to the rising penetration of smartphones and internet of things technology (IoT). High cost, lack of awareness, and lack of skilled professionals are the major restrains for the market.  However, due to government initiatives and penetration of major market players in emerging economies, it can be expected that adoption across residential and outdoor lighting will grow in emerging economies during the forecast period and act as opportunity in the market. Technological advancement and smart lighting will also act as factors that drive the growth of the market during the forecast period.

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Lighting Control System Market is segmented on the basis of type, component, technology and end user. By type, the market is divided into fluorescent lamps and compact fluorescent lamps, High Intensity Discharge Lamps (HID), and Light Emitting Diodes (LED) lights and lamp. In the near future, due to its cost efficiency and low carbon emission it is expected that the LED segment will have the major market share along with highest growth rate. By component the market is divided into control & communication, intelligent luminaries, sensors, microcontrollers, dimmers and actuators, transmitters and receivers. Control & communication and microcontrollers will have a major market share in the forecast period due to cost of communication technology (IoT) and so on. By technology market is divided into wired and wireless. The wireless communication is expected to acquire major portion of the market during 2018-2023. The future of Lighting Control System Market is expected with Wi-Fi technology, Bluetooth or hybrid technology, which comes under wireless technology. By end-user application, the market is divided into residential, commercial, industrial, and public utilities. It is expected that the public utility will show the highest market growth in the near future. As smart lighting project are getting approval all across the globe. Additionally, it is expected that for the energy saving, government will install smart light at other public facilities too such as government building & offices, parking lots and so on.

Browse full report at: Smart Lighting & Control System Market

Global Smart lighting and control systems market is segmented on the basis of geography as North America, Asia Pacific, Europe and Rest of the World. Europe will have a significant market dominance during the forecasted period. The growth of the region is backed by the increasing standard of living and increasing building automation in Germany, France, and the United Kingdom. As most of the key players of smart lighting and control systems are present within the region, a high degree of mergers and acquisitions are expected to foster the growth prospects in Europe over the projected period.  APAC region is estimated to be emerged as the fastest growing region during the forecast period. The major factors that are contributing to the growth of the APAC market include increasing trend of LED lighting, government incentives and so on. North America is also expected to show a significant market growth as the market is not price sensitive, and the adoption rate is high toward new technology. Additionally, the trend of smart homes is increasing considerably in the US and various smart light companies in the country are integrating their smart light with the smart technology companies such as Google and Apple. The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.

The global smart lighting and control systems market is highly fragmented and extremely competitive in nature due to the presence of a large number of market players. Key market players of the smart lighting and control systems market include Philips Lighting, Acuity Brands Lighting, General Electric Company, OSRAM Licht AG, Cooper Industries Inc., Digital Lumens Inc. and Lutron Electronics Company Inc. The key strategies adopted by the market players for strengthening their market share in global smart lighting and control systems market includes mergers & acquisitions, development of innovative packaging technology, contracts & agreements, and geographical expansion. The report also includes detailed market overview, strategic recommendations, key company analysis, key findings, analyst insights, predictive analysis, patent analysis, pipeline analysis, market determinants, market segmentation and company profiling of the market.