Lucintel Blog: Lucintel Forecasts Lighting Control Market to Reach $30.3 Billion by 2027

Tuesday, July 26, 2022

Lucintel Forecasts Lighting Control Market to Reach $30.3 Billion by 2027

According to the recent study the Lighting Control Market is projected to reach an estimated $30.3 billion by 2027 from $17.7 billion in 2021, at a CAGR of 9.4% from 2021 to 2027. Growth in this market is primarily driven by 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.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in 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).

Download sample report by clicking on below link https://www.lucintel.com/lighting-control-market.aspx

“LED drivers market is expected to remain the largest segment during the forecast period.”

Based on product type, the lighting control market is segmented into the residential, commercial, and industrial sectors. Lucintel forecasts that the LED drivers market is expected to remain the largest segment 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 segment is expected to remain the largest application.”

Based on application the indoor lighting segment is expected to witness the highest growth over the forecast period due to the increasing penetration of smart lighting system and increasing customer awareness for energy efficiency.

“Asia pacific will dominate the lighting control market in near future.”

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.

Download Brochure of this report by clicking on https://www.lucintel.com/lighting-control-market.aspx

Major players of lighting control market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. General Electric, Cree Inc., Osram, Philips, Lutron, Leviton Manufacturing, Legrand, Acuity Brand, and Digital Lumens are among the major lighting control providers.

This unique 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 click on this link https://www.lucintel.com/lighting-control-market.aspx or helpdesk@lucintel.com.

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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com.

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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