Intelligent Lighting Control Market Share and Size is Projected to Reach USD 27.29 Billion at CAGR 17.5% by 2030
The growth of the market is attributed to the growing number of smart homes along with decreasing average selling price (ASP) of LED bulbs and drivers
VANCOUVER, BC, CANADA, January 31, 2023 /EINPresswire.com/ -- The global Intelligent Lighting Control Market is projected to reach USD 27.29 billion by 2027, according to a recent report by Emergen Research. The evolution of smart technology over the years has significantly modified the industry in terms of energy and cash saving, as well as improved the protection and convenience of the users.
Intelligent Lighting Control Market By Product (Sensors, Ballads & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers), By Applications (Smart Cities, Automotive, Manufacturing, Media & Entertainment, Others), By Connectivity (Wired, Wireless) and By Regions Forecasts to 2027
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With the arrival of cutting-edge technologies within the industry, varied gateways are opened for the businesses of many trade verticals, like dimmers, management systems and software system primarily based solutions and sensors. The state of affairs of the industry has been utterly reworked with the institution of contemporary technologies in it. The world economy on a longer term is anticipated to consume a lot of energy resources within the longer run, particularly with the growing energy demand from the developing countries like India, China, and Japan. Lighting phase sometimes consumes majority of the electricity during a business building and attracts substantial energy levels for a non-public residence. Intelligent lighting controls witnessed important increase within the adoption rate for the usage in varied applications because of multitudinous blessings offered by the technology.
The integration of physical security trade with intelligent lighting is likely to affect the growth of the industry positively. The ever-changing paradigm of lighting management trade to industry and adding voice management feature can be integrated to the coming products. Increasing number of smart homes in conjunction with customization edges and incessantly decreasing average terms (ASP) of light-emitting diode bulbs and drivers square measure a number of the factors driving the expansion of intelligent lighting management market.
Key companies operating in the Intelligent Lighting Control market include:
General Electric Company
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porters Five Forces analysis
In-depth 8-year analysis of the Global Intelligent Lighting Control Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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Some Key Highlights from the Report
An economical lighting system will scale back the energy consumption by 22-43% and in some cases by the maximum amount as five hundredth, looking on the sort of system put in. The magnified would like for energy demand management in developed countries conjointly augurs well for the market.
Smart homes pose a measure to the fast expansion of the intelligent lighting controls market in residential application. The advent of smart houses is the last word answer for the patron that brings varied blessings with reference to energy and value savings. Moreover, homes are thought-about to be intelligent' enough to spot the members of the family and guests which will support the bioscience technology. Majority of the businesses operative throughout these houses squares a significant amount of money to be integrated seamlessly with the physical and digital world.
The wired technology has been in the scene for quite a while however with the recent development in frequency (RF) technologies, there is a rise within the range of wireless installations worldwide. Wired technology primarily based intelligent lighting systems will offer higher management and adaptability with the utilization of further natural philosophy, that successively will increase the value of the installation.
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North American market has been the dominant among the worldwide intelligent lighting controls market in 2019 in terms of volume and price. However, Asia Pacific is predicted to grow at a significant CAGR of 18.2% throughout the forecast span. This can be principally because of low value of shopper instrumentation within the region. To accelerate the rising trend of intelligent homes within the region is additionally supporting the expansion of the Asia Pacific smart lighting controls market. China features a high rate of consumption and production of world lighting products.
For the purpose of this report, Emergen Research has segmented into the global Intelligent Lighting Control Market on the basis of product, applications, connectivity and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Ballast and LED Drivers
Dimmers and Switch Actuators
Transmitters and Receivers
Applications Outlook (Revenue, USD Billion; 2017-2027)
Media and Entertainment
Connectivity Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
Key Questions Addressed in the Report:
Who are the leading players in the Intelligent Lighting Control industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of Intelligent Lighting Control?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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