Global Lighting Control Market Size To Grow USD 70 Billion by 2030 | CAGR of 17%Category: Electronics, ICT & Media
Global Lighting Control Market worth $70 Billion by 2030
According to a research report published by Spherical Insights & Consulting, The Global Lighting Control Market Size is to Grow from USD 20 Billion in 2021 to USD 70 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 17% during the forecast period. The increasing adoption of lighting control by different industries such as residential, industrial, commercial, public places, architectural sites, highways & roadways, and others is the key driving factor.
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Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report TOC on the "Global Lighting Control Market Size, Share, and COVID-19 Impact Analysis, By Screen Type Global Lighting Control Market Size, Share, and COVID-19 Impact Analysis, By Installation Type (Retrofit Installation, New Installation), By Offering (Hardware (LED Drivers, Sensors, Switches), Software (Web Based, Cloud Based), Services (Professional, Installation, Maintenance)), By Connectivity Type (Wired and Wireless), By Application (Indoor (Residential, Industrial, Commercial, Others), Outdoor (Public Places, Architectural Sites, Highways & Roadways, Others)), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030" Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/lighting-control-market
The lighting control system, also known as smart lighting, is a clever and electronic system that enables control solutions that integrate transmission centrally through multiple inputs and outputs using the primary modem. The lighting control market is encountering exponential growth, owing primarily to increased functionality, energy efficiency goals, and LED lighting adoption. In 2021, the LED lighting market accounted for 61% of the global lighting market and is expected to grow up to 85% by 2030. Architectural lighting control systems can be integrated with a theatre’s on/off and dimmer controls, and are frequently used for house lights and stage lighting, as well as work lights, rehearsal lighting, and lobby lighting. Outdoor application is expected to dominate with the highest CAGR during the predicted time frame. In addition, increasing smart city projects in developing economies and the rising adoption of energy-efficient lighting solutions are expected to provide advantageous opportunities for the growth of the lighting control market during the forecast period.
The retrofit installation segment is expected to witness a higher growth rate over the forecast period.
Based on installation type, the global lighting control market is segmented into retrofit installation and new installation. Among these, the retrofit installation segment is witnessing a higher growth rate over the forecast period. Replacing the old lighting control system that expands lighting and limits heat emission and saves energy gives the biggest lighting upgrades to the end users.
The hardware segment is anticipated to witness significant CAGR growth over the forecast period.
On the basis of offering, the global lighting control market is segmented into hardware, software, and services. Among these, the hardware segment is witnessing significant CAGR growth over the forecast period, owing to the market being completely dominated by LED drivers and ballast components for its rising demand for energy-saving lighting systems.
The wired segment is expected to generate the highest revenue over the predicted timeframe.
Based on connectivity type, the global lighting control market is segmented into wired and wireless. Among these, the wired segment is expected to generate the highest revenue over the predicted timeframe owing to the ability to provide fast data communication and smart lighting.
The outdoor application segment is projected to grow the fastest over the forecast period.
On the basis of application, the global lighting control market is segmented into indoor and outdoor. Among these, the outdoor application segment is anticipated to grow the fastest over the forecast period owing to the increasing advancement of smart lighting systems, which is expected to drive global lighting control market growth. In addition, the rising adoption of intelligent fleet management due to the undertaking of smart cities developing projects, towards a better lifestyle, clean energy management, and intelligent management facilities across the world are other significant factors projected to drive the global lighting control market over the forecast period.
North America region is dominating the market with the largest market share of 60%.
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Among all other regions North America is dominating the market owing to the increasing adoption of global efforts in infrastructure improvement-related activities, primarily in buildings used for residential and commercial purposes. Moreover, numerous initiatives have been started by governments in the United States to reduce CO2 emissions and promote efficient electricity consumption and management. As such, it is expected to drive the global lighting control market around the world.
Major vendors in the Global Lighting Control Market include Cisco Systems Inc., Signify Holding, KONINKLIJKE PHILIPS N.V., Legrand North America LLC, SIEMENS AG, Zumtobel Group, Eaton CORPORATION, LSI Industries Inc., GE Current, OSRAM GmbH, Ideal Industries Inc., ACUITY BRANDS LIGHTING INC., Lutron Electronics Co. Inc., Lightwave RF PLC, Control4 Corporation, Schneider Electric, Thorn Lighting, Honeywell International Inc., IDEAL INDUSTRIES INC., Aclara Technologies LLC, Hubbell, Tridonic, Leviton Manufacturing Co. Inc., Helvar, Digital PLC, Zumtobel Group AG, RAB Lighting Inc., Cree Inc., Synapse Wireless, Panasonic Corporation, Helvar, and among others.
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