The lighting control system market size was valued at $17.37 Billion in 2022, and is projected to reach $34.76 Billion in 2032, registering a CAGR of 7.2%. The lighting control system comprises the software, which connects to lamps and luminaires as part of a network to remotely command and control the lighting fixture. Lighting control systems provide many benefits such as individual control over lamps, controlling their colors, hues, dimness, as well as the design presented by luminaires. Further benefits of lighting control systems Include energy efficiency, energy management, and reduction in carbon emissions.
The scope of the report discusses the potential opportunities for the key players to enter the lighting control system market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report Includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.
The lighting control system market is segmented on the basis of component, technology, application, and region. On the basis of component, it is classified into solution and services. On the basis of technology, it is classified into wired and wireless, with wireless further classified into Wi-Fi, Bluetooth, ZigBee, proprietary, hybrid and others. On the basis of application, it is classified into indoor and outdoor, with indoor further classified into residential, commercial, and industrial, and lastly, commercial, broken down into offices, restaurant and hotel, healthcare facility, educational institution, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The growth of the global lighting control system market is driven by the Increasing capability and functionality of lighting control systems. Many functionalities have been added to the lighting control systems, making them a more attractive option for customers. Another driving factor is that many governments across the world have introduced policies to support energy-saving products. For instance, the European Union and the U.S. are offering grants, easier access to loans, tax rebates, and subsidies to lighting projects, which reduce CO2 emissions. However, system reliability is a concern when lighting control systems are installed in large environments. Given the fact that lighting control systems are relatively and most of them are proprietary systems, means that these proprietary systems are rarely tested outside of the manufacturer’s laboratories. On the other hand, the rapid development of smart city projects in Asia-Pacific present an opportunity for lighting control systems during the forecast period. Lighting control systems can be used to provide huge momentum in the process of building smart cities, specifically as they successfully address sustainable development challenges.
The scope of the report discusses the potential opportunities for the key players to enter the lighting control system market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report Includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.
The lighting control system market is segmented on the basis of component, technology, application, and region. On the basis of component, it is classified into solution and services. On the basis of technology, it is classified into wired and wireless, with wireless further classified into Wi-Fi, Bluetooth, ZigBee, proprietary, hybrid and others. On the basis of application, it is classified into indoor and outdoor, with indoor further classified into residential, commercial, and industrial, and lastly, commercial, broken down into offices, restaurant and hotel, healthcare facility, educational institution, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The growth of the global lighting control system market is driven by the Increasing capability and functionality of lighting control systems. Many functionalities have been added to the lighting control systems, making them a more attractive option for customers. Another driving factor is that many governments across the world have introduced policies to support energy-saving products. For instance, the European Union and the U.S. are offering grants, easier access to loans, tax rebates, and subsidies to lighting projects, which reduce CO2 emissions. However, system reliability is a concern when lighting control systems are installed in large environments. Given the fact that lighting control systems are relatively and most of them are proprietary systems, means that these proprietary systems are rarely tested outside of the manufacturer’s laboratories. On the other hand, the rapid development of smart city projects in Asia-Pacific present an opportunity for lighting control systems during the forecast period. Lighting control systems can be used to provide huge momentum in the process of building smart cities, specifically as they successfully address sustainable development challenges.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lighting control system market analysis from 2022 to 2032 to identify the prevailing lighting control system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the lighting control system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global lighting control system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Services
By Technology
- Wired
- Wireless
- Wireless
- Wi-Fi
- Bluetooth
- ZigBee
- Proprietary
- Hybrid
- Others
By Application
- Indoor
- Indoor
- Residential
- Commercial
- Commercial
- Industrial
- Outdoor
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Lutron Electronics Co., Inc,
- Signify Holding
- Dialight plc.
- Cree, Inc.
- OSRAM GmbH
- Eaton Corporation
- General Electric
- Legrand S.A.
- ACUITY BRANDS, Inc.
- Hubbell Incorporated
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LIGHTING CONTROL SYSTEM MARKET, BY COMPONENT
CHAPTER 5: LIGHTING CONTROL SYSTEM MARKET, BY TECHNOLOGY
CHAPTER 6: LIGHTING CONTROL SYSTEM MARKET, BY APPLICATION
CHAPTER 7: LIGHTING CONTROL SYSTEM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Lighting Control System Market,' The lighting control system market was valued at $17.4 billion in 2022, and is estimated to reach $34.8 billion by 2032, growing at a CAGR of 7.2% from 2023 to 2032.The lighting control system consists of the software used to connect the lamps and luminaires into a network to remotely command and control the lighting fixture, as well as the hardware parts such as sensors and chips which are directly responsible for operating the software. Lighting control systems provide many functionalities such as controlling various aspects of individual lamps like their colors, hues, and dimness, as well as energy-efficiency, better energy management, and reduction in carbon emissions. Reduced energy consumption is one of the major advantages of using lighting control systems.
Several factors are driving the lighting control system market, with one of them being the increasing capability and functionalities of lighting control systems. They can be used to turn ON and OFF the individual lights and luminaires remotely. It is possible to adjust the color and hues of the lights. Furthermore, different types of ambiences can be created by adjusting the dimness of the lights. Many functionalities have been added to the lighting control systems, making them a more attractive option for customers. Another driving factor is that many governments across the world have introduced policies to support energy-saving products. The growth of lighting control systems market is fostered by such supportive government initiatives as these systems ensure efficient usage of electricity in lighting with minimal wastages. For instance, the European Union and the U.S. are offering grants, easier access to loans, tax rebates, and subsidies to lighting projects, which reduce CO2 emissions.
On the other hand, system reliability is a concern when lighting control systems are installed in large environments. Many lighting control systems operate on proprietary systems. This means that the systems have been developed by that manufacturer and can only operate with the equipment of that manufacturer. This, combined with the fact that lighting control systems itself are still a relatively new phenomenon, means that these proprietary systems are rarely tested outside of the manufacturer’s laboratories. Separately, the rapid development of smart city projects in Asia-Pacific present an opportunity for lighting control systems during the forecast period. Governments have played a major role in the development of smart cities through regulations and initiatives focused on deployment of smart services as a major part of the infrastructure. Lighting control systems can be used to provide huge momentum in the process of building smart cities, specifically as they successfully address sustainable development challenges.
The lighting control system market is segmented on the basis of component, technology, application, and region. On the basis of component, it is classified into solution and services. On the basis of technology, it is classified into wired and wireless, with wireless further classified into Wi-Fi, Bluetooth, ZigBee, proprietary, hybrid and others. On the basis of application, it is classified into indoor and outdoor, with indoor further classified into residential, commercial, and industrial, and lastly, commercial, broken down into offices, restaurant and hotel, healthcare facility, educational institution, and others.
- On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key Market Insights
In 2022, the solution segment in the component segmentation accounted for highest revenue and is expected to reach $23,889.23 million by 2032 at a CAGR of 6.5%, while the services segment is projected to expand at the fastest CAGR of 9.1% during the forecast period.In 2022, the wired technology segment in the technology segmentation accounted for maximum revenue and is likely to touch $24,981.68 million at 6.5% CAGR by 2032, while the wireless segment is estimated to grow at the fastest CAGR of 9.2% during the forecast period.
In 2022, the indoor segment in the application segmentation garnered the largest market share and is estimated to be at $19,807.54 million by 2032 at 5.7% CAGR, while the outdoor segment is estimated to grow at the fastest CAGR of 9.6% during the forecast period.
In 2022, North America contributed for a significant share of the lighting control system market and is expected to touch $11,078.18 million at 6.3% CAGR, while Asia-Pacific was expected to expand at the fastest CAGR of 8.8% during the forecast years.
The lighting control system market players profiled in the report include Acuity Brands, Inc. (Georgia), Cree LED (U.S.), Eaton Corporation (U.S.), General Electric (U.S.), OSRAM AG (Germany), Signify Holding (The Netherlands), Dialight (UK), Legrand S.A. (France), Lutron Electronics Co., Inc (U.S.), and Hubbell Incorporated (U.S.). Market players have adopted various strategies, such as product launches, collaborations & partnerships, joint ventures, and acquisitions to expand their foothold in the digital multimeter market.
Companies Mentioned
- Lutron Electronics Co., Inc,
- Signify Holding
- Dialight plc.
- Cree, Inc.
- OSRAM GmbH
- Eaton Corporation
- General Electric
- Legrand S.A.
- ACUITY BRANDS, INC.
- Hubbell Incorporated
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 571 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 17.37 Billion |
| Forecasted Market Value ( USD | $ 34.76 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
