Smart light control Market Global Industry Review 2020 To 2023

Posted by Monica nerkar on March 20th, 2020

Market Research Future (MRFR)’s assessment reveals that the global smart light control market is projected to exhibit a healthy CAGR over the forecast period 2015 to 2027. In addition, the report also suggests that the market is expected to reach a decent valuation towards the end of the assessment period. The need for efficient utilization of energy is driving the growth in demand for smart light and control systems across different industry verticals. It is projected to revolutionize the growth pattern of the market in the upcoming years.

The rising consumption of energy in conjunction with its adverse effects on the environment has raised red flags across the world. It has led to the development of the smart light and control system market owing to assured energy efficiency coupled with smart adjustment of lighting systems per physical presence, color temperature, intensity of daylight, etc. The technological innovations in the sensor technology are poised to dictate the growth of the smart light control market over the next couple of years. Furthermore, the decline in the price of LEDs, development of smart applications, penetration of IoT technology, etc. are poised to catapult the market on an upward trajectory.

The concept of smart homes has gained much popularity in the past few months. It is likely to witness towering demand owing to accelerated adoption of technological advancements. This, in turn, has been forecasted to have a positive influence on the expansion of the smart light control market across the review period.

By type, the global smart light control market has been segmented into fluorescent lamps, Compact Fluorescent Light (CFL), Light Emitting Diodes (LED), High Intensity Discharge Lamps (HID), and others.

By Components, the smart light control market has been segmented into LED drivers & ballasts, sensors, dimmers & switches, microprocessor & controllers, wireless receivers & transmitters and others.

By connective technology, the global smart light control market has been segmented into wired connectivity technology and wireless connectivity technologies.

By application, the smart light control market has been segmented into residential, commercial and others.

By region, the global smart light control market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is the hub for global leaders in the market. A major part of the market participants is based out of North America which gives it a competitive edge over other regional markets. It is anticipated to retain the leading position in the global marketplace over the next couple of years. Europe is poised to exhibit a similar growth pattern in the foreseeable future and maintain its second spot over the next few years. It is poised to expand at a moderate pace in the years to come.

Some of the key players of the smart light control market profiled in this MRFR report are Acuity Brands, Bytelight, Ams Ag, Commscope, Inc., Eaton’s Cooper Lighting, Daintree Networks, Enlighted, Inc, Nxp Semiconductors, Lutron, and Tvilight.

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Monica nerkar

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Monica nerkar
Joined: September 20th, 2019
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