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.
Browse 93 market data tables and 93 figures spread through 170 pages and in-depth TOC on “Global Lighting Control Market" http://www.lucintel.com/lighting-control-market-2018-2023.aspx
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.
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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.
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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 [$M shipment analysis from 2012 to 2023]:
Wired
BACnet
Powerline communication
Wireless
By Region [$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 click on this link http://www.lucintel.com/toc/lighting-control-market-2018-2023.aspx or helpdesk@lucintel.com
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