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Power Over Ethernet (Poe) Lighting Market
The PoE lighting market is driven by factors such as increase in global connectivity demand and government initiatives and investments in emerging countries.
WILMINGTON, DELAWARE , UNITED STATES, February 16, 2024 /EINPresswire / -- Power Over Ethernet (Poe) Lighting Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Hardware, Software, Services), by Wattage (Upto 25 Watt, Above 25 Watt), by Application (Commercial, Residential, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032
The power over ethernet (poe) lighting market was valued at $0.7 billion in 2022, and is estimated to reach $11.3 billion by 2032, growing at a CAGR of 31.6% from 2023 to 2032.
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The power over ethernet lighting market is anticipated to experience significant growth during the forecast period owing to an increase in global connectivity demand, and government initiatives and investments. In addition, during the forecast period, the power over ethernet lighting market is expected to witness an increase in demand for intelligent workplaces in developing regions such as LAMEA and Asia-Pacific. On the contrary, high initial costs of PoE equipment, accessories and services restrain the power over ethernet lighting market growth during the forecast period. Nevertheless, rise in demand for intelligent workplace is expected to provide prolific growth opportunities for industry in upcoming years.
The end users of PoE lighting span across different sectors. In the commercial sector, end users include offices, retail stores, hotels, and restaurants. These establishments benefit from the energy savings, ease of installation, and advanced lighting control capabilities of PoE lighting. In the industrial sector, end users encompass manufacturing facilities, warehouses, and production plants, where PoE lighting supports efficient operations, reduces energy costs, and enhances worker safety. In the public sector, end users include government buildings, schools, hospitals, and transportation hubs, where PoE lighting provides reliable and intelligent lighting solutions. The residential sector also embraces PoE lighting for its ability to offer customizable lighting experiences and integrate with smart home automation systems, enhancing convenience and energy efficiency for homeowners.
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The power over ethernet (poe) lighting market analysis is segmented on the basis of offering, wattage, application, and region.
Based on offering, the hardware segment held the highest market share in 2022, accounting for nearly half of the global power over ethernet lighting market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in commercial and industrial sectors, where high intensity of light emitting diode (LED) light is required. Moreover, the same segment is projected to manifest the highest CAGR of 32.07% from 2023 to 2032, driven by the growing adoption of light emitting diode (LED) across various sectors, including manufacturing, oil and gas, utilities, transportation, and mining.
Based on wattage, the above 25 watt segment held the highest market share in 2022, accounting for more than half of the global power over ethernet lighting market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the upto 25 watt segment is projected to manifest the highest CAGR of 32.07% from 2023 to 2032 due to versatile and cost-effective solution for both residential and commercial environments globally.
Based on application, the industrial segment held the highest market share in 2022, accounting for more than two-fifths of the global power over ethernet lighting market revenue. In addition, the commercial segment is projected to manifest the highest CAGR of 31.87% from 2023 to 2032 due to rise of Internet of Things (IoT) devices and data-driven insights presents opportunities for PoE lighting systems to integrate with analytics platforms, enabling predictive maintenance, occupancy sensing, and space utilization analysis. The market for PoE lighting in commercial applications is poised for growth as organizations seek sustainable and intelligent lighting solutions to enhance energy efficiency, user comfort, and operational efficiency in their facilities.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global power over ethernet lighting market revenue. Asia-Pacific is likely to showcase the fastest CAGR of 32.12%, owing to the region has a strong focus on technology innovation and digital transformation, making it receptive to cutting-edge solutions like PoE lighting. The combination of urban development, market potential, and technological advancements positions the Asia-Pacific region as a promising market for the growth and adoption of PoE lighting technology.
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Region-wise, the power over ethernet (poe) lighting market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key Benefits for Stakeholders:
➡️ This study comprises analytical depiction of the PoE Lighting market size along with the current trends and future estimations to depict the imminent investment pockets.
➡️ The overall PoE Lighting market analysis is determined to understand the profitable trends to gain a stronger foothold.
➡️ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➡️ The current market forecast is quantitatively analyzed from 2023 to 2032 to benchmark the financial competency.
➡️ Porter's five forces analysis illustrates the potency of the buyers and suppliers in the PoE Lighting.
➡️ The report includes the market share of key vendors and PoE Lighting market trends.
David Correa
Allied Market Research
+ +1-503-894-6022
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