Intelligent Lighting Controls Market: Current Analysis and Forecast (2021-2027)

Report Description

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The Intelligent Lighting Controls market is predicted to grow at a CAGR of ~15% between 2021 and 2027. This is attributed to the rising demand for intelligent lighting controls system for integration in smart cities and modernization of industrial and commercial infrastructure. Furthermore, growing demand for efficient energy utilization, combined with an increase in the installation of plug-and-play installation systems, will drive market growth. In addition, major smart city projects were announced by major developed and developing nations including China and India. Moreover, with the rise of the Fourth Industrial Revolution and related technologies such as AI, IoT, and big data coupled with bold government policies and initiatives to incorporate the smart technologies such as intelligent lighting controls system. Thus, with rapid urbanization occurring primarily in developing countries, city growth and economic development are strongly intertwined.

In China, the Intelligent Lighting Controls solution is growing due to the encouraging government policies in regards with energy conservation and environment protection, is anticipated to bolster the demand for smart lighting. Moreover, China has invested heavily in smart city programs. In early 2020 alone, China’s governing National People’s Congress signed off on a US$1.4 trillion fiscal plan to support technological innovation in these fields. Its smart city program and has over 500 smart cities in various stages of development. These cities leverage key technologies like IoT, big data, cloud computing, and other smart systems. These technologies including intelligent lighting control systems are building blocks of smart city infrastructure.

Insights Presented in the Report

“Amongst Connectivity Type, Wired Category to Hold Significant Market Share”

Based on connectivity type, the Intelligent Lighting Controls Market is bifurcated into wired and wireless. In 2020, wired category held a significant market share in the global market. However, wireless category to witness higher growth rate during the forecast period. Intelligent lighting controls have been used to control the level of lighting in an energy-efficient manner, such as maintaining the desired level of light in specific areas. However, with the continuous technological advancements, the intelligent lighting systems have the potential to use lighting controls to connect a range of other services, including data collection and analysis, security, fire safety, climate control, navigation, among others. Furthermore, advent of integrated lighting control systems, increasing adoption and decreasing cost of LEDs, and growing awareness about energy savings among consumers and governments worldwide are the major factors contributing to the growth of the market.

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“Amongst Type, Sensors Category would witness significant growth”

On the basis of type, the market is categorized into Sensors, Ballast & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers, and Others. Among these, sensors category to witness significant growth in the market. This is primarily due to the the growing use of light sensors to perform certain functions such as ambient light sensing, proximity detection, and RGB color sensing among others in the consumer electronics and automotive sectors. Light sensors are widely used in the consumer electronics and automotive industries for LCD and LED display backlight control, smart home, and security lighting because they provide an optimum viewing experience in a variety of lighting conditions through automatic control of brightness level based on ambient light intensity. Furthermore, it is used in exterior lighting and traffic signals because of its flexible, compact design, user-friendly interface, optimized power consumption, long battery life, low cost, and quick response.

“Amongst Application, Smart Cities category dominated the market”

Based on application, the Intelligent Lighting Controls Market has been bifurcated into Smart Cities, Automotive, Manufacturing, Media & Entertainment, and Others. The market is dominated by smart cities category owing to the need for sustainable infrastructure due to increasing population and urbanization. Governments worldwide are trying to tackle these growing population and rapid urbanization problems through smart city initiatives across functional segments such as utility management, mobility, and safety. Though smart city projects necessitate the use of a diverse set of technologies to monitor city infrastructures, such as IoT, artificial intelligence, and intelligent sensors, the application areas vary across projects and from community to community or city to city. The need to improve the resilience of cities, reduce energy consumption, and be concerned about the proliferation of environmental wastes are the primary motivators for implementing smart city solutions.

 “Asia-Pacific is expected to witness highest growth during the forecast period”

APAC intelligent lighting controls market is expected to witness strongest growth during the forecast period. This is attributed to the rapid economic development, globalization, digitalization, and the increased proliferation of smartphones. In addition, major stakeholders such as have already invested heavily in telecom infrastructure, and this spending is expected to rise further. The smart cities market in APAC is expected to grow dramatically in the coming years as a result of the large number of 5G deployments and initiatives undertaken by major Asian mobile operators to address the issue of high bandwidth requirements. Furthermore, integration of smart lights as a part of smart city ecosystem has an ability o connect with IoT devices and to share information regarding the status of the operation. For instance, smart street lights in city parking or roads ensure safety by offering wide coverage, environmental monitoring, parking and traffic management information, and city surveillance by connecting with IoT devices.

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. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Intelligent Lighting Controls Market were the three major steps undertaken to create and analyze the demand and sales of Intelligent Lighting Controls across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Intelligent Lighting Controls through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Intelligent Lighting Controls, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are connectivity type, type, and application. Further regional level analyses were conducted to evaluate the overall demand of Intelligent Lighting Controls in global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing vehicle ownership and technological advancement in the automotive sector etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the demand of Intelligent Lighting Controls across the major regions globally
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Intelligent Lighting Controls Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Intelligent Lighting Controls market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of connectivity type, type, application, and regions.

The main objective of the Intelligent Lighting Controls Market Study

The current & future market trends of the Intelligent Lighting Controls Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Intelligent Lighting Controls in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
• Segments in the study include connectivity type, type, application, and Regions
• Defined analysis of the regulatory framework for the Intelligent Lighting Controls industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
• Analyze the current and forecast market size of the Intelligent Lighting Controls across the globe. Major regions analyzed in the report include North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Define and analyze the competitive landscape of the Intelligent Lighting Controls sector and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry