The global intelligent lighting control market is segmented by components into sensors, ballasts and led drivers, microcontrollers and microprocessors, dimmers and switches actuators, transmitters and receivers and intelligent luminaries; by connection into wired and wireless; by light source into fluorescent lamp (FL), light emitting diode (LED) and high intensity discharge (HID) lamps; by end-user industries into residential, commercial, industrial, hospitality, automotive and others and by regions. World Bank has recorded energy consumption index declining down the year from 2014 to 2017 which indicates the high need for energy efficient appliances thus, driving the Intelligent Lighting Control Market to anticipate at a CAGR of 17.2% during the forecast period i.e. 2018-2027.
Currently the global intelligent lighting control market is observing vibrant growth on the back of increasing demand of energy in the market. Advance in lighting and fixture market in the past few years and growing technological explorations is projected to drive intelligent lighting control market besides the wide range of functions of intelligent lighting control in an immense range of industries for instance in commercial buildings, luxury hospitality, smart housing and others during the forecast period.
Rising disposable income coupled with availability of innovative smart lighting devices, North America is panned to observe substantial growth in intelligent lighting control market on account of to rising intelligent lighting control usage in various end-user industries. North America is expected to be followed by Asia Pacific in terms of consumption due to expanding intelligent lighting control requirements for energy as well as money saving with improved convenience for users. Europe is expected to drive demand and positively impact intelligent lighting control market growth over the forecast period on account of increasing intelligent lighting control application in hospitality industry across the region.
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Growing Applications for Energy Conservation
Rising trend of smart housing has resulted in expanding use of intelligent lighting controls for residential purposes along with increasing use of intelligent lighting controls use in industrial as well as commercial purposes. Intelligent lighting controls help in energy saving by maximizing performance efficiency and thus complying with energy conservation programs.
Rise in R&D Activities
The growing R&D activity associated to intelligent lighting control is further expected to increase the market growth on account of discovery of new applications and products. Moreover, rise in personnel disposable income of population in the developed and developing nations such as U.S., India, China and others are opening new opportunities for consumer electronic industry players.
However, cost constraints associated with smart lighting systems and lower adoption rate of smart devices in under-developed and initially developing stage countries such as Afghanistan, Sudan, Niger, Bhutan and others are estimated to serve as the key factor in limiting the growth of the intelligent lighting control market over the forecast period.
The report titled “Global Intelligent Lighting Control Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Intelligent Lighting Control market in terms of market segmentation by components, by connection, by light source, by end-user industries and by regions.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Intelligent Lighting Control market which includes company profiling of Honeywell International, Inc., General Electric Company, Koninklijke Philips N.V., OSRAM Licht AG, Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc., Leviton Manufacturing Co., Inc., Cree, Inc., Hubbell Incorporated and Schneider Electric SE. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Intelligent Lighting Control market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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