Intelligent Lighting Control Market in Global Economy: US$ 27.29 billion Budget Allocation Expected by 2027
The Global Intelligent Lighting Control Market is projected to reach USD 27.29 billion by 2027, according to a recent report by Emergen Research. An automated technology known as an intelligent lighting control system uses a network of connected lighting fixtures to regulate illumination. Intelligent lighting control solutions increase performance, customer value, and energy savings. These systems have several uses in a variety of industries, including those for automobiles, homes, and many other systems like aeroplanes and cars.
Smart lighting controls are being used more frequently in an effort to save energy usage. The market for intelligent lighting controls has expanded globally because to increased energy management ignorance. Government restrictions on the usage of energy-efficient products also help the market expand. The growth of these systems has been constrained, nevertheless, by the higher installation costs and longer payback times of LED lights. Future developments in low-cost sensors and falling LED product costs would reduce installation costs, opening up a wide range of growth prospects for the market for intelligent lighting controls.
Governments in several areas have created rules to efficiently use and control electricity consumption. China’s five-year plan targets for energy efficiency projects and European 2020 energy targets to reach net-zero energy usage in public and private buildings are just two examples of the rules put in place by the relevant authorities. During the anticipated period, the adoption of intelligent lighting controls would increase as a result of such legislation. The benefits of intelligent lighting controls in controlling electricity usage and costs is also becoming more well known among end users. Intelligent lighting controls allow for the effective use of energy and minimised electricity waste. One of the key elements driving the global adoption of intelligent lighting controls is the increase in public awareness.
Some Key Highlights from the Report
- For motorised window coverings and digital light fixture controls in patient rooms, Schneider Electric announced in July 2019 that it would integrate its EcoStruxure platform with Lutron’s Quantum solution. The Lutron Electronics lighting, automatic shading, and fixture control systems would be part of this integrated digital solution.
- Legrand debuted the Wattstopper Wireless Digital Lighting Management (DLM) system in May 2019. By incorporating IP-based wireless control, wireless DLM expands on the success of the initial wired DLM system.
- Announcing the completion of its acquisition of Universal Electric Corporation (UEC), a pioneer in the design of adaptable, adjustable power distribution systems and the maker of the STARLINE and U-S Safety Trolley product suites, Legrand made the announcement in April 2019.
- Key participants include Lutron Electronics, General Electric Company, Honeywell International, Leviton Manufacturing, Cree, Acuity Brands, Enlighted, OSRAM Gmbh, LSI Industries and Hubbell Incorporated.
In terms of volume and price, the North American market has dominated the global market for intelligent lighting controls in 2019. However, it is anticipated that Asia Pacific will expand at a noteworthy CAGR of 18.2% throughout the course of the forecast year. This may be primarily due to the cheap cost of consumer instruments in the area. The growth of the Asia Pacific smart lighting controls market is also being aided by the region’s emerging trend toward smarter homes. China has a high rate of global lighting product manufacturing and consumption.
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)
- Smart Cities
- Media and Entertainment
Connectivity Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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