Intelligent Lighting Controls market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Vikas Kumar
- April 1, 2022
- ELECTRONICS & SEMICONDUCTOR, NEWS
- Intelligent Lighting Controls market Growth, Intelligent Lighting Controls market news, Intelligent Lighting Controls market share, Intelligent Lighting Controls market Size, Intelligent Lighting Controls market Trend
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Intelligent Lighting Controls Market is expected to grow at a CAGR of around 15% during the forecast period 2021-2027. A lighting control system is an intelligent network-based lighting control solution that includes communication between various lighting control system inputs and outputs via one or more central computing devices. Lighting control systems are widely used in commercial, industrial, and residential settings for both indoor and outdoor lighting. Globally, the overall demand for intelligent lighting control solutions is on a rise, with countries around the global are modernizing their infrastructure and investing heavily in smart city development. Growing urbanization, need for efficient management and utilization of resources, demand for fast and efficient transport and commuting, public safety concerns, and increasing demand for a healthy environment with efficient energy consumption are major factors driving the growth of the Smart Cities across the globe. Thus, creating significant opportunities for the global intelligent lighting controls market growth.
Stay-at-home orders and financial constraints during the COVID-19 pandemic have affected the consumer buying behavior significantly. The pandemic has reduced manpower efforts, with Silicon Valley being almost completely shut down during the crisis, affecting meeting the needs of smart cities for strategic management and planning by the government and other stakeholders.
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Based on connectivity type, the Intelligent Lighting Controls Market is bifurcated into wired and wireless. During the forecast period, wireless category to grow at a fastest CAGR owing to increase in implementation of connected street lights in urban areas, growing government initiatives and increased development of smart cities. In addition, efficient lighting techniques and increased awareness of energy conservation is attracting attention from players operating in the wireless connected lighting solutions.
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On the basis of type, the market is categorized into Sensors, Ballast & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers, and Others. Among these, ballast & LED Drives are expected to witness strong growth rate during the forecast period. This is mainly due to the growing steps and initiative regarding efficient utilization of energy with reduced wastage of electricity consumption with Intelligent lighting control solutions.
Based on application, the Intelligent Lighting Controls Market has been bifurcated into Smart Cities, Automotive, Manufacturing, Media & Entertainment, and Others. Among these, Smart cities category to hold significant share during the forecast period. This is mainly due to rising consumer awareness of energy management and a growing government emphasis on efficient electricity consumption. Furthermore, the increase in the number of smart city projects across developing economies will have a positive impact on the market’s progression.
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For a better understanding of the market adoption of Intelligent Lighting Controls Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. During the forecast period, APAC region is expected to witness significant growth owing to owing to the rising need for resource management due to overpopulation and dynamic shift in urban sprawl, coupled with the economic growth of megacities in the emerging economies of the region.
Some of the major players operating in the market include Schneider Electric SE, Acuity Brands Inc., Cisco Systems Inc., Eaton Corporation, General Electric Company, Honeywell International Inc., ams-OSRAM AG, Panasonic Corporation, Signify N.V., and Siemens AG.
Intelligent Lighting Controls Market Segmentation
Market Insight, by Connectivity Type
Market Insight, by Type
- Ballast & LED Drivers
- Dimmers & Switch Actuators
- Transmitters & Receivers
Market Insight, by Application
- Smart Cities
- Media & Entertainment
Market Insight, by Region
- North America Intelligent Lighting Controls Market
- Rest of North America
- Europe Intelligent Lighting Controls Market
- Rest of Europe
- Asia-Pacific Intelligent Lighting Controls Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Intelligent Lighting Controls Market
Top Company Profiles
- Schneider Electric SE
- Acuity Brands Inc.
- Cisco Systems Inc.
- Eaton Corporation
- General Electric Company
- Honeywell International Inc.
- ams-OSRAM AG
- Panasonic Corporation
- Signify N.V.
- Siemens AG