Lighting Control System Market 2021-2024: Growth Drivers, Business Statistics, Top Region with Share, and Revenue Analysis

sagar.gJanuary 15, 2022

Lighting Control System

The “Lighting Control System Market” Report provides a thorough examination of the market. The Lighting Control System Market research investigates how firms in the Lighting Control System Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this Lighting Control System market report.

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Competitor Analysis:

Lighting Control System market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –

General Electric Company

Philips Lighting NV

Eaton Corporation PL

Honeywell International Inc.

Acuity Brands Inc.

Cree Inc.

Lutron Electronics Co. Inc.

Leviton Manufacturing Company Inc.

Digital Lumens Inc.

WAGO Corporation

Infineon Technologies

Schneider Electric

Cisco Systems Inc.

Taiwan Semiconductor

Toshiba

Market Overview:

The lighting control system market is expected to reach USD 42.79 billion in 2024 from USD 16.71 billion in 2018, witnessing a CAGR of 16.99%, during the forecast period (2019 – 2024). The market is moving toward the adoption of the Internet of Things (IoT), with the increasing usage of smart devices, such as smartphones, tablets, etc. As the lighting control market is finding its applications in IoT-connected devices, the increase in adoption is influencing a positive growth of the market.

– The improved connectivity and advancements in technologies solutions have increased the adoption of smart lighting controlling system, globally. Wireless technologies, such as ZigBee and bluetooth, have made installations of smart lighting controlling system seamless across various spaces.

– Moreover, the concept of smart cities is also increasing in different regions and this movement is supported by many government initiatives. As a smart city consists of a connected system, the general lighting application in the smart city requires automated lighting systems. These automated lighting systems use sensor-based control systems.

– For instance, in April 2018, the Council of Australian Governments Energy Ministers have announced to replace halogen lamps with LED lamps to improve energy efficiency.

– However, on the flip side, wireless connections can be unreliable at times and ongoing maintenance are the factors hampering the overall growth of the market. The initial set up cost is also high, which is a major challenge in the large-scale adoption of lighting control systems.

Key Market Trends:

Smart City Development Initiatives to Drive the market for Smart Lighting

– According to the United Nations Human Settlements Program, cities consume 78% of the world’s energy and Philips also predicted that by 2050, 66% of the population may live in cities, due to urbanization. These have resulted in smart cities, where smart cities rely on IoT, where everything is dependent on each other. From streets lights to traffic signals and beyond. Smart lighting can be a backbone for a smart city network.
– Nowadays, most cities that install new smart lighting or retrofit existing fixtures choose systems that already are equipped with sensor technology or that can be upgraded easily to utilize the advantages of IoT applications.
– For instance, in February 2018, London worked on an innovative lighting strategy that would use smart lighting to cut energy and light pollution, and manage light levels and color at different times of the day.

Asia-Pacific to Witness the Fastest CAGR

– The growth in Asia-Pacific is attributed to the rapid infrastructure building activities being undertaken in the region, mainly in China where lighting control systems pave the way for the modernization of infrastructure. It is anticipated to consume more energy resources in the longer run, especially with the growing energy demand from the developing countries, such as China and India. The lighting segment usually consumes the majority of the electricity in a commercial building and draws substantial energy levels for a private residence.
– Apart from this the increasing awareness regarding the efficiency of the connected lighting system in the emerging countries, like China, India, and Taiwan, is enabling significant cost savings through optimal energy consumption.
– India is making an affirmative shift from using conventional lighting to LED and energy efficient smart lights. Due to this change, India is perceived as a market with great potential for international and domestic manufacturers alike.
– According to a report by ELCOMA, the lighting industry is expected to reduce energy consumption for lighting from the present 18% of total power consumption to 13% by 2020, by introducing more energy efficient products and working more closely with the government to execute various schemes and awareness programs.

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Scope of the Report:

Smart lighting control systems improve energy efficiency and performance. These systems have countless applications across diverse verticals, like aircraft, automobiles, home appliances, etc. Smart lighting controls have been increasingly adopted in an effort to reduce energy consumption.

Highlighted points of Lighting Control System Market Report:

Varying dynamics of the Lighting Control System industry.
Prospective changes in sales volumes and worldwide share growth in upcoming years
Lighting Control System market report recognizes the key drivers of growth and challenges of the key industry players.
Competitors profiles along with product description, overview, and business data.
Complete analysis of market risks, opportunities, limitations, and growth of the market.
Market driving and restraining factors.
Delivers information on the historical and current market size and the future potential of the market.
Lighting Control System market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.

Key Benefits of this Lighting Control System Market report:

The Lighting Control System market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
The Lighting Control System market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the Lighting Control System market.
Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
Value chain analysis provides a clear understanding of the roles of stakeholders involved.

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Detailed TOC of Lighting Control System Market Report:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand For Energy-efficient Lighting Systems
4.3.2 Growing Modernization And Infrastructural Development
4.4 Market Restraints
4.4.1 High Cost of Installation
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Hardware
5.1.1.1 LED Drivers
5.1.1.2 Sensors
5.1.1.3 Switches and Dimmers
5.1.1.4 Relay Units
5.1.1.5 Gateways
5.1.2 Software
5.2 By Communication Protocol
5.2.1 Wired
5.2.2 Wireless
5.3 By Application
5.3.1 Indoor
5.3.2 Outdoor
5.4 Geography
5.4.1 Europe
5.4.2 Asia-Pacific
5.4.3 Latin America
5.4.4 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 General Electric Company
6.1.2 Philips Lighting NV
6.1.3 Eaton Corporation PL
6.1.4 Honeywell International Inc.
6.1.5 Acuity Brands Inc.
6.1.6 Cree Inc.
6.1.7 Lutron Electronics Co. Inc.
6.1.8 Leviton Manufacturing Company Inc.
6.1.9 Digital Lumens Inc.
6.1.10 WAGO Corporation
6.1.11 Infineon Technologies
6.1.12 Schneider Electric
6.1.13 Cisco Systems Inc.
6.1.14 Taiwan Semiconductor
6.1.15 Toshiba