Request Sample Inquiry
Smart Lighting Control Systems Market

Smart Lighting Control Systems Market

Smart Lighting Control Systems Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1469

Segments Covered
  • By Lighting Source Fluorescent Lamps and Compact Fluorescent Lamps, High Intensity Discharge Lamps (HID), Light Emitting Diodes (LED) Lights and Lamps
  • By Application Residential, Commercial, Industrial, Outdoor
  • By Control Systems Smartphone Enabled, Daylight Sensing Technology, Proximity Sensing Technology, Others
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 56.2 Billion
Revenue 2028Revenue 2028: USD 108.5 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 11.60%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Smart Lighting Control Systems Market Share

Market Synopsis:

Global Smart Lighting Control Systems Market is valued at USD 56.2 Billion in the year 2021 and is projected to reach a value of USD 108.5 Billion by 2028. The Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.60% over the forecast period.

The Smart Lighting Control Systems Market is witnessing growth due to the rising demand for energy-efficient connected lighting controls owing to the growth in the awareness to decrease energy consumption. Moreover, the increasing demand for Smart Lighting Control Systems, rising adoption and reduction in the cost of LEDs, and upcoming smart city projects in the emerging economies are the prime factors driving the growth of the Smart Lighting Control Systems Market during the forecast period. Moreover, the awareness about saving energy among consumers and government, and modernization and infrastructure development are the other prime factors contributing to the increasing demand for Smart Lighting Control Systems Market during the forecast period. Furthermore, the smart light control system comprises multiple lighting fixtures connected in a network in order to control the lighting. Whereas, the smart lighting control system improves performance, energy efficiency, and customer value which is fueling the growth of the Smart Lighting Control Systems Market during the forecast period. In addition, the government regulations on the utilization of energy-efficient products are boosting the growth of the smart lighting control system market during the forecast period. Besides, higher installation costs and long payback periods of LED lights are expected to limit the growth of the market during the forecast period. Whereas, the introduction of low-price sensors and dropping prices of LED products could reduce the cost of installation and thus reduce the numerous growth opportunities for the growth of the smart lighting control system market in the coming future.

Smart Lighting Control Systems Market Size, 2021 To 2028 (USD Billion)

Market Segmentation:

The Smart Lighting Control Systems Market is segmented on the basis of lighting source, application, and control system. On the basis of lighting source segments as Fluorescent Lamps and Compact Fluorescent Lamps, High-Intensity Discharge Lamps (HID), Light Emitting Diodes (LED) Lights, and Lamps. Based on end-use the market is segmented as Residential, Commercial, Industrial, and Outdoor Lighting Applications. On the basis of control systems, the market is segmented as Smartphone Enabled, Daylight Sensing Technology, Proximity Sensing Technology, and others.

Below tree is interactive. You can click the nodes to get more information.

Light Emitting Diodes (LED) and Lamps are projected to dominate the market during the forecast period

Based on the lighting source the light-emitting diodes and lamps are expected to dominate the Smart Lighting Control Systems Market during the forecast period. The indoor and outdoor use of light-emitting diodes and architectural lighting has undergone a rapid transformation. The growth in the advancements of LEDs for improved energy efficiency, and the reduction per unit of LEDs have increased the demand for light-emitting diodes and lamps globally during the forecast period. Moreover, the availability of LEDs on online and offline markets is increasing the sale of LEDs and lamps and these factors are driving the growth of the Smart Lighting Control Systems Market.

The outdoor segment is expected to acquire the major share of the market during the forecast period

Based on end-use application, the outdoor segment is predicted to hold the major share of the Smart Lighting Control Systems Market during the forecast period. The growth of this segment is mainly attributed to the surging demand for roadways and highways for better light quality and due to its high energy efficiency. The demand for Smart Lighting Control Systems is dominating is increasing and will also grow in the future in emerging countries as well as in developed countries.

North America acquires the largest share of the Smart Lighting Control Systems Market during the forecast period

North America acquires the largest market share during the forecast period. The growth of North America is mainly attributed to the volume and worth of the Smart Lighting Control Systems Market. As the energy performance contracts have become prevalent in the North American region, specific energy service corporations (ESCOS) are developed now to supply wide range of energy services to the owners of the house.

The Asia Pacific is projected to be the fastest-growing region during the forecast period

The Asia Pacific is the fastest-growing region globally in the smart lighting control system market during the forecast period. The growth of Asia Pacific is primarily attributed to a rise in government investments in the development of good homes in emerging countries such as China, and India. The rate of consumption and production of lighting merchandise in the Asia Pacific are attracting foreign major players to merge in the country which is driving the growth of the Smart Lighting Control Systems Market in the Asia Pacific during the forecast period.

Competitive Landscape:

The key players in the market are adopting new strategies such as the introduction of new innovations or products in the market to increase their market appearance. Some of the major key players in the market are General Electric Company, Koninklijke Philips N.V., Belkin International Inc., Eaton Corporation, Lightwave PLC, Elgato Systems, LiFI Labs Inc., Honeywell International, Inc., Lutron Electronics Company Inc., Acuity Brands Lighting Inc..

Segmentation of the Global Smart Lighting Control Systems Market:

Parameter Details
Segments Covered
  • Lighting Source (Fluorescent Lamps and Compact Fluorescent Lamps, High Intensity Discharge Lamps (HID), Light Emitting Diodes (LED) Lights and Lamps)
  • Application (Residential, Commercial, Industrial, Outdoor )
  • Control Systems (Smartphone Enabled, Daylight Sensing Technology, Proximity Sensing Technology, Others)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • General Electric Company
  • Koninklijke Philips N.V.
  • Belkin International Inc.
  • Eaton Corporation
  • Lightwave PLC
  • Elgato Systems
  • LiFI Labs Inc.
  • Honeywell International Inc.
  • Lutron Electronics Company Inc.
  • Acuity Brands Lighting Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Smart Lighting Control Systems Market to Reach Valuation of USD 108.5 Billion by 2028 - The increasing demand for Smart Lighting Control Systems in emerging and developed countries is Driving the Market Growth
In terms of revenue, the Global Smart Lighting Control Systems Market is probable to reach USD 108.5 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.60% from 2022 to 2028. The awareness about saving energy among consumers and government, and modernization and infrastructure d...
FAQ
Frequently Asked Question
  • The global Smart Lighting Control Systems valued at USD 56.2 Billion in 2020 and is expected to reach USD 108.5 Billion in 2028 growing at a CAGR of 11.60%.

  • The prominent players in the market are General Electric Company, Koninklijke Philips N.V., Belkin International Inc., Eaton Corporation, Lightwave PLC, Elgato Systems, LiFI Labs Inc., Honeywell International, Inc., Lutron Electronics Company Inc., Acuity Brands Lighting Inc..

  • The market is project to grow at a CAGR of 11.60% between 2021 and 2028.

  • The driving factors of the Smart Lighting Control Systems include

    • Ongoing and upcoming smart city projects in developing economies

  • North America was the leading regional segment of the Smart Lighting Control Systems in 2020.