Smart Lighting and Control Systems Market Product Overview, Share by Types and Region till 2023
20th Mar 2020 – Global Smart Lighting and Control Systems Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Smart lighting and control systems are energy-efficient and can be controlled automatically.
The factors that are playing a major role in the growth of the market are the increasing interest of residential customers towards home automation, expansion and modernization of infrastructure to convert cities into smart cities, decreasing the cost of LEDs, and the rising awareness among government and consumers regarding energy savings. However, the high cost of installation, privacy and security issues, and lack of awareness regarding payback periods may restrain the overall market in the years to come. Smart lighting and control systems market is segmented based on type, connectivity, offering, application, and region.
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Light emitting diodes (LEDs), fluorescent lamps, and high-intensity discharge lamps (HIDs) are the types that could be explored in smart lighting and control systems in the forecast period. Light emitting diodes (LEDs) sector accounted for the substantial share of smart lighting and control system market and is estimated to lead the overall market in the years to come. The reason could be the high demand from end-users, the high energy savings, and low carbon emission.
Based on the connectivity, wireless and wired could classify smart lighting and control systems in the forecast period. The wireless sector is estimated to grow at the highest CAGR in the years to come. Also, the sector is estimated to lead the overall market in the years to come.
Services, hardware and software are the offerings that could be explored in smart lighting and control systems in the forecast period. Services sector comprises post-installation, design and engineering, and installation. Whereas, the hardware sector comprises lighting controls and lights & luminaires. The hardware sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come.
The market may be categorized based on applications like outdoor and indoor that could be explored in the forecast period. The indoor application sector comprises industrial, residential, and commercial. Whereas, outdoor application sector comprises public places, highways and roadways, and architectural. The indoor sector accounted for the significant share of the market and is estimated to continue its dominance in the years to come.
Leading Players Analysis covered in these report:
- General Electric Company (The U.S)
- Koninklijke Philips NV (Netherlands)
- Belkin International (The U.S)
- Eaton Corporation (The U.S)
- Acuity Brands (The U.S)
- Elgato Systems (Germany)
- Honeywell International (The U.S)
- Lutron Electronics (The U.S)
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Smart Lighting and Control Systems in these regions, from 2012 to 2023 (forecast), covering
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Columbia)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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