Lighting Controllers Market to represent a significant expansion at CAGR of 17.6

Posted by Bisvjeet on November 18th, 2018

According to a recent market report published by Research Report Insights (RRI) titled, “Lighting controllers Market by 2025” the global lighting controllers market was valued at US$ 4,214.2 Mn in 2016, and is expected to register a CAGR of 17.6% from 2017 to 2025. The development of smart lighting infrastructure and government spending on smart city projects are the major factors driving growth of the global lighting controllers market.

Lighting controllers are the devices which assists in controlling lights via sensor, and dimmers. It is an intelligent network based lighting control solution that integrates communication between various system inputs and outputs related to lighting control with the use of central computing device. These controllers are now widely used in commercial, industrial, and residential applications to provide the right amount of light where and when it is needed.

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Global lighting controllers market is categorized on the basis of by technology, by application, and by region. On the basis of technology, the market is segmented as sensor, dimmer, day-light harvesting, and time scheduling. Time scheduling sub segment is anticipated to register a CAGR of 18.8% during the forecast period. The sensor sub segment is accounted for the largest market share of 29.5% in 2017. Moreover, the increasing demand for lighting controllers in the retail outlets and escalating demand for better lighting infrastructure are some of the major factors which are fueling the growth of lighting controllers market.

By application, the market is segmented as commercial, industrial, and residential. The residential sub-segment accounted for relatively higher CAGR of 19.1% during the forecast period. The commercial sub-segment accounted for the largest market share of 41.6% in 2017. The increasing usage of smart lighting solutions for residential, and industrial applications is one of the major factor driving the growth of the lighting controllers.

This report also covers drivers, restraints and trends driving each segment and offers analysis and insights regarding the potential of lighting controllers market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among these regions, Asia Pacific accounted for the largest market share in 2016 owing to government spending on smart cities projects and increasing inclination towards the adoption of smart technology products. Asia Pacific region is also expected to register a healthy CAGR of 19.3% during the forecast period. Europe and North America also offers potential growth opportunities for lighting controllers market due to the increasing focus of various countries in the region on energy efficient building infrastructure, and a surge in green building projects in the region.

 Some of the top companies identified across the Lighting controllers market are: Hubbell, Philips Lighting Holding B.V., Acuity Brands, Inc., Eaton Corporation, Cree, Inc., General Electric, OSRAM GmBH, Honeywell International, Inc., Schneider Electric, and Lutron Electronics Co., Inc.