(MENAFN- Prophecy Market Insights) Power Over Ethernet Lighting Market accounted for US$ 256.2 million in 2019 and is estimated to be US$ 5483.2 million by 2029 and is anticipated to register a CAGR of 36.2%. Some of the prominent trends that the market is witnessing include rising popularity of cost-effective lighting, increasing popularity of smart buildings, and growing acceptance of automated systems. The advantages of PoE include time and cost savings, flexibility, safety, reliability, and scalability.
The report "Global Power Over Ethernet Lighting Market, By Offering (Hardware, and Software and Service), By Application (Commercial, Industrial, and Residential), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
• In February 2016, Cisco Systems, Inc. collaborated with Koninklijke Philips N.V., a Dutch technology solution provider. With increased sales of smart lighting solutions, both the companies witnessed a hike in profitability as the former company provided networking gears and the latter offered commercial lighting solutions.
• SpiceBox, an advanced form of POE control Module was launched in 2017 by NuLEDs, Inc. SpiceBox is a device used for networking and has a unique MAC and IP address. This module was developed to help in smooth delivery of management and power capabilities for LED fixtures. Such innovations are likely to provide lucrative growth opportunities for the global POC LED Lighting market in the foreseeable future.
Analyst View:
PoE network offers a more economical solution compared to traditional cabling network as it is a single integrated power and data cabling system. Apart from an economic component such as installation cost, PoE also offers affordability in terms of maintenance. PoE infrastructure requires only one licensed electrician who can install and maintain the entire PoE network. This reduces the overall cost resulting in higher payback in the projects. According to a study conducted by Cisco, connections with electrical cabling for AC current are 20% extra expensive than PoE-based system. Thus, cost-saving benefits of the PoE network is expected to drive the growth of the global power over Ethernet lighting market during the forecast period.
PoE provides a future proof network option as it can accommodate the network growth and the integration of the next generation of devices through connector interfaces that lie across the network. This, deployment of future devices via an established network is effectively reducing the time and expansion cost coupled with ease of integration. For instance, WAPs, Li-Fi, smart sensor and the ever-increasing Internet of things devices (IoT) can be easily incorporated in the PoE network. These next-generation applications are used for integrated building management systems are projected to surge in demand driving the growth of the global Power over Ethernet Lighting market during the forecast period.
Key Market Insights from the report:
The global power over ethernet lighting market accounted for US$ 256.2 million in 2019 and is estimated to be US$ 5483.2 million by 2029 and is anticipated to register a CAGR of 36.2%. The market report has been segmented on the basis of the wattage, offering, application and region.
• Based on the offering segment, Software and services segment to grow at higher CAGR during forecast period. PoE technology offers intelligent lighting solutions through a connected network of light fixtures and sensors that allow them to send and receive data. A PoE lighting system can deliver energy savings of up to 80% and unprecedented insight and control over commercial, industrial, and public spaces. Command and control platforms, which are used to control and manage PoE lighting solutions, allow users to set up multiple control policies for each group of LED fixtures. For instance, the brightness and color of a fixture can be managed by a software platform. The market for the software and services segment is projected to grow at a higher CAGR during the forecast period. Software are used to evaluate energy optimization and savings, emission reductions, and financial viability.
• Based on application, industrial segment expected to grow at higher CAGR during forecast period. The industrial segment includes lighting in production halls, warehouses, representative rooms, and other indoor areas. The use of PoE can simplify the implementation of a smart lighting system in an office or industrial application. Industries and factories are now focusing on energy-efficient lighting solutions owing to the government regulations for energy saving. Thus, PoE lighting is among the preferred solutions being adopted by them. Furthermore, the growing adoption of industry 4.0 is expected to create opportunities for players offering PoE lighting solutions for the industrial vertical.
• By region, North America is expected to be the largest market for cloud gaming and is expected to remain dominant during the forecast period. The rapid growth of cloud computing and the growing presence of professional gamers are expected to fuel the market growth during the assessment period. Furthermore, increased government investments in cloud computing and related technologies, growing adoption of smartphones, and increasing penetration of high-speed Internet are some of the other factors responsible for the growth of the market. dominates the global cloud gaming market.
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Competitive Landscape:
The prominent player operating in the global power over ethernet lighting market includes Signify (Philips Lighting), Hubbell Incorporated, Innovative Lighting (GENISYS), Deco Lighting, Ideal Industries, Inc. (Cree), Eaton Corp., Herbert Waldmann GmbH & Co. Kg (Waldmann Lighting), H.E. Williams, NAME Energy Group (MHT Lighting), Ubiquity Networks, and ALLNET GmbH.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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