Lighting Control System Market Size Is Thriving By World Dur...| MENAFN.COM

Tuesday, 07 February 2023 10:59 GMT

Lighting Control System Market Size Is Thriving By World During Upcoming Year 2023-2033


(MENAFN- America News Hour)

Market Overview
The lighting control system market is expected to reach USD 50.06
billion from USD 19.69 billion, witnessing a CAGR of 16.99%, during the forecast period. The market is moving toward the adoption of the Internet of Things (IoT), with the
increasing usage of smart devices, such as smartphones, tablets, etc.
As the lighting control market is finding its applications in IoT-connected devices, the increase in adoption is influencing a positive growth of the market.
– The improved connectivity and advancements in technologies solutions have increased the adoption of smart lighting controlling system, globally. Wireless technologies, such as ZigBee and bluetooth, have made installations of smart lighting controlling system seamless across various spaces.
– Moreover, the concept of smart cities is also increasing in different regions and this movement is supported by many government initiatives. As a smart city consists of a connected system, the general lighting application in the smart city requires automated lighting systems. These automated lighting systems use sensor-based control systems.
– For instance, in April 2018, the Council of Australian Governments Energy Ministers have announced to replace halogen lamps with LED lamps to improve energy efficiency.
– However, on the flip side, wireless connections can be unreliable at times and ongoing maintenance are the factors hampering the overall growth of the market. The initial set up cost is also high, which is a major challenge in the large-scale adoption of lighting control systems.

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Scope of the Report
Smart lighting control systems improve energy efficiency and performance. These systems have countless applications across diverse verticals, like aircraft, automobiles, home appliances, etc. Smart lighting controls have been increasingly adopted in an effort to reduce energy consumption.
Key Market Trends
Smart City Development Initiatives to Drive the market for Smart Lighting

– 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 may live in cities, due to urbanization. These have resulted in smart cities, where smart cities rely on IoT, where everything is dependent on each other. From streets lights to traffic signals and beyond. Smart lighting can be a backbone for a smart city network.
– Nowadays, most cities that install new smart lighting or retrofit existing fixtures choose systems that already are equipped with sensor technology or that can be upgraded easily to utilize the advantages of IoT applications.
– For instance, in February 2018, London worked on an innovative lighting strategy that would use smart lighting to cut energy and light pollution, and manage light levels and color at different times of the day.
Asia-Pacific to Witness the Fastest CAGR
– The growth in Asia-Pacific is attributed to the rapid infrastructure building activities being undertaken in the region, mainly in China where lighting control systems pave the way for the modernization of infrastructure. It is anticipated to consume more energy resources in the longer run, especially with the growing energy demand from the developing countries, such as China and India. The lighting segment usually consumes the majority of the electricity in a commercial building and draws substantial energy levels for a private residence.
– Apart from this the increasing awareness regarding the efficiency of the connected lighting system in the emerging countries, like China, India, and Taiwan, is enabling significant cost savings through optimal energy consumption.
– India is making an affirmative shift from using conventional lighting to LED and energy efficient smart lights. Due to this change, India is perceived as a market with great potential for international and domestic manufacturers alike.
– According to a report by ELCOMA, the lighting industry is expected to reduce energy consumption for lighting from the present 18% of total power consumption to 13% by 2020, by introducing more energy efficient products and working more closely with the government to execute various schemes and awareness programs.

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Competitive Landscape
The lighting control system market is highly fragmented because of the presence of major players. Some of the key players in the market are Texas Instruments Incorporated, Schneider Electric SE, Philips NV, and Infineon Technologies, among others. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition in the intelligent lighting controls market.
– June 2018 – Honeywell launched a suite of next-generation energy management software, smart lighting, voice controls, and secure cloud communication systems. With these technologies, the hospitality industry can fully integrate energy management, safety and security systems, property management, and brand network operations for world-class guestroom and building automation.

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand For Energy-efficient Lighting Systems
4.3.2 Growing Modernization And Infrastructural Development
4.4 Market Restraints
4.4.1 High Cost of Installation
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness – Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION

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