(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Lighting Control System Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lighting Control System Market products.
Kenneth Research has recently added a report on Lighting Control System Market which is studied for the forecast period 2021 2025. The growth of the market can be attributed to the growing accessibility to internet amongst the households globally and the need for advanced technologies that promote effective communication between two distant geographies. In the United States, internet access to households grew from around 73% of the households in 2015 to close to 80% of the households in 2019. In Korea, it was around 98% in 2014 which grew to nearly 100% in 2020. On the other hand, in the Netherlands, internet access to households touched nearly 98% in 2019. Countries in the Latin America, such as Brazil and Mexico grew at a significant pace by about 1.45x and 1.63x respectively within a span of 4 years between 2015 and 2019. Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The global Lighting Control System Market was valued at USD 12.19 billion in 2016 and is projected to reach USD 51.41 billion by 2025, growing at a CAGR of 17.34% from 2017 to 2025.
A lighting control system is an intelligent network based lighting control solution that incorporates communication between various system inputs and outputs related to lighting control with the use of one or more central computing devices.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Increasing demand of energy efficient lighting control and management
1.2 Growing demand for (IoT) in the Lighting Industry
1.3 Growing preference for Protocols for Lighting Control
1.4 Modernization and Infrastructure Development
2. Market Restraints
2.1 Perception of Higher Cost of Installations and Limited Awareness About Payback Periods
2.2 Security and Privacy Issues
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Market Segmentation:
1. Global Lighting Control System Market, by Offering:
1.1 Hardware
1.1.1 LED Drivers & Ballasts
1.1.2 Sensors
1.1.3 Switches
1.1.3.1 Manual On/Off Switch
1.1.3.2 Electronic Switch
1.1.4 Dimmers
1.1.4.1 Wired Dimmers
1.1.4.2 Wireless Dimmers
1.2 Software
1.2.1 Local/Web-Based Software
1.2.2 Cloud-Based Software
1.3 Services
1.3.1 Professional Services
1.3.2 Maintenance Service
1.3.2.1 Lifecycle Maintenance
1.3.2.2 System Optimization
1.3.2.3 Data Analytics
1.3.3 Managed Services
1.3.4 Other Services
1.3.4.1 Financing and Third-Party Ownership
1.3.4.2 Value-Added Services
2. Global Lighting Control System Market , by Installation Type:
2.1 New Installation
2.2 Retrofit Installation
3. Global Lighting Control System Market, by Communication:
3.1 Wired
3.1.1 DALI
3.1.2 Power Line Communication (PLC)
3.1.3 Power Over Ethernet (POE)
3.1.4 Hybrid
3.1.5 Others
3.2 Wireless
3.2.1 Zigbee
3.2.2 Bluetooth/Bluetooth Low Energy (BLE)
3.2.3 Enocean
3.2.4 Wi-Fi
3.2.5 6lowpan
3.2.6 Hybrid (Wireless)
3.2.7 Others
4. Global Lighting Control System Market, by Application:
4.1 Indoor
4.1.1 Residential
4.1.2 Commercial
4.1.3 Industrial
4.1.4 Others
4.2 Outdoor
4.2.1 Highways & Roadways Lighting
4.2.2 Architectural Lighting
4.2.3 Lighting for Public Places
4.2.4 Others
5. Global Lighting Control System Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. General Electric Company
2. Philips Lighting N.V.
3. Eaton Corporation PLC
4. Legrand S.A.
5. Osram Licht AG
6. Acuity Brands, Inc.
7. Cree Inc.
8. Lutron Electronics Co. Inc.
9. Leviton Manufacturing Company, Inc.
10. Echelon Corporation
11. Lightwaverf PLC
12. Digital Lumens, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Lighting Control System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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