DUBLIN – (BUSINESS WIRE) – November 18, 2021–
The report “Lighting Control Systems Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to the offering of ResearchAndMarkets.com.
The lighting control systems market is expected to reach USD 50.06 billion in 2026 from USD 19.69 billion in 2020, with a CAGR of 16.99%, during the forecast period (2021 – 2026).
- General Electricity Company
- Philips Lighting SA
- Eaton Corporation PL
- Honeywell International Inc.
- Brands Acuity Inc.
- Cris inc.
- Lutron Electronics Co. Inc.
- Leviton Manufacturing Company Inc.
- Digital Lumens Inc.
- WAGO Company
- Infineon Technologies
- Schneider Electric
- Cisco Systems Inc.
- Taiwan Semiconductor
Key market trends
Smart city development initiatives to boost the smart lighting market
- According to the United Nations Human Settlements Program, cities consume 78% of the world’s energy and Philips also predicted that by 2050, 66% of the population could live in cities, due to urbanization. These have resulted in smart cities, where smart cities rely on IoT, where everything depends on each other. From lampposts to traffic lights and beyond. Smart lighting can be the backbone of a smart city network.
- Nowadays, most cities installing new smart lighting or retrofitting existing devices choose systems that already have sensor technology or can be easily upgraded to use the benefits of IoT applications.
- For example, in February 2018, London worked on an innovative lighting strategy that would use smart lighting to reduce energy and light pollution, and manage light levels and color at different times of the day.
Asia-Pacific to witness fastest CAGR
- Growth in Asia-Pacific is attributed to rapid infrastructure construction activities undertaken in the region, primarily in China, where lighting control systems are leading the way in infrastructure upgrades. It is expected to consume more energy resources in the long run, especially with increasing energy demand from developing countries, such as China and India. The lighting segment typically consumes the majority of electricity in a commercial building and consumes substantial energy levels for a private residence.
- Apart from this, the growing awareness of the efficiency of the connected lighting system in emerging countries, such as China, India and Taiwan, allows significant cost savings through optimal energy consumption. .
- India is in the process of shifting from conventional lighting to smart, energy efficient LED lighting. Due to this change, India is seen as a high potential market for domestic and international manufacturers.
- According to an ELCOMA report, the lighting industry is expected to reduce energy consumption for lighting from the current 18% of total power consumption to 13% by 2020, by introducing more energy-efficient products and working more closely with the government to deliver various programs. and awareness programs.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Introduction to Market Drivers and Constraints
4.3 Market drivers
4.3.1 Growing Demand for Energy Efficient Lighting Systems
4.3.2 Growing modernization and development of infrastructure
4.4 Market restrictions
4.4.1 High installation cost
4.5 Value chain / supply chain analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By type
18.104.22.168 LED drivers
22.214.171.124 Switches and dimmers
126.96.36.199 Relay units
5.2 By communication protocol
5.3 By application
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
7 INVESTMENT OUTLOOK
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/3v0q5e.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20211118006142/en/
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INDUSTRY KEYWORD: ENERGY OTHER TECHNOLOGY TECHNOLOGY OTHER ENERGY SERVICES
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 11/18/2021 1:15 PM / DISC: 11/18/2021 1:16 PM
Copyright Business Wire 2021.