According to
a new market report published by Lucintel, the future of the lighting control
market looks attractive with opportunities in the residential, commercial, and
industrial sectors. The global lighting control market is expected to reach an
estimated $21.1 billion by 2023 with a CAGR of 12% from 2018 to 2023. The major
growth drivers for this market are growth in development of smart cities, increasing
adoption of Internet of Things (IoT) in the lighting industry, rising utility
costs, and favorable government regulations for energy efficiency.
In this market, LED drivers, sensors, switches
& dimmers, relay units, and gateways are used for lighting control in
residential, commercial, industrial, and various outdoor lighting applications.
LED drivers will remain the largest product type and are expected to witness
the highest growth over the forecast period due to increasing penetration of
LED lighting, increasing utility and maintenance cost, and increasing demand
for connected lighting.
Within the lighting control market, the indoor
lighting application will remain the largest market; it is also expected to
witness highest growth rate due to the increasing penetration of smart lighting
system and increasing customer awareness for energy efficiency.
Asia Pacific
is expected to remain the largest region and will experience the highest growth
over the forecast period due to the increasing lighting demand in China and
India. This growth will also be supported by development in smart cities,
increasing penetration of intelligent lighting systems, and increasing
awareness for energy efficient lighting products.
Emerging trends, which have a direct impact on
the dynamics of the industry, include increasing demand for daylight sensors,
growth in camera-based lighting control technology, and development of hybrid
lighting control systems. General Electric, Cree Inc., Osram, Philips, and
Lutron are among the major lighting control manufacturers.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed the global lighting control market by application, installation
type, connection type, product, and region and has come up with a comprehensive
research report entitled “Growth
Opportunities in the Global Lighting Control Market 2018-2023: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as
a catalyst for growth strategy as it provides a comprehensive data and analysis
on trends, key drivers, and directions. The study includes a forecast for the
global lighting control market by application, installation type, connection
type, product and region as follows:
By Product Type [$M shipment analysis from 2012 to 2023]:
·
LED drivers
·
Sensors
·
Switches & Dimmers
·
Relay Units
·
Gateways
By Application Type [$M shipment analysis from 2012 to 2023]:
·
Indoor
– Residential
– Commercial
– Industrial
·
Outdoor
– Highways
& roadways lighting
– Lighting
for public places
– Architectural
By Installation
Type [$M shipment analysis from 2012 to 2023]:
·
New installation
·
Retrofit installation
By Connection Type [$M shipment analysis from 2012 to 2023]:
·
Wired
– BACnet
– Powerline
communication
·
Wireless
– Zigbee
– Bluetooth
– EnOcean
By Region [$M shipment analysis from 2012 to
2023]:
·
North America
– United
States
– Canada
– Mexico
·
Europe
– United
Kingdom
– Germany
– France
·
Asia Pacific
– Japan
– China
– South
Korea
– India
·
The Rest of the World
This
170-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include
Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. Lucintel offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for
the global lighting control market by application (indoor and outdoor),
installation type (new installation and retrofit installation), connection type
(wired and wireless), product (LED driver, sensors, switches
& dimmers, relay units and gateways) and region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q.
2 Which segments will grow at a faster pace and why?
Q.3
Which regions will grow at a faster pace and why?
Q.4
What are the key factors affecting market dynamics? What are the drivers and
challenges of the market?
Q.5
What are the business risks and threats to the market?
Q.6
What are the emerging trends in this market and reasons behind them?
Q.7
What are some changing demands of customers in the market?
Q.8
What are the new developments in the market? Which companies are leading these
developments?
Q.9
Who are the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q.10
What are some of the competitive products and processes in this area and how
big of a threat do they pose for loss of market share via product substitution?
Q.11
What M&A activity has occurred in the
last 5 years?
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