Trends, opportunities and forecast in this market to 2023 by application (indoor and outdoor), installation type (new installation and retrofit installation), connection type (wired and wireless), product (LED driver, sensors, switches & dimmers, relay units and gateways) and region (North America, Europe, Asia Pacific, and the Rest of the World)
According to a new market report published by Lucintel, the future of the lighting control market looks attractive with opportunities in the residential, commercial, and industrial sectors. The global lighting control market is expected to reach an estimated $21.1 billion by 2023 with a CAGR of 12% from 2018 to 2023.
The major growth drivers for this market are growth in development of smart cities, increasing adoption of Internet of Things (IoT) in the lighting industry, rising utility costs, and favorable government regulations for energy efficiency.
Browse 93 market data tables and 93 figures spread through 170 pages and in-depth TOC on “Global Lighting Control Market" www.lucintel.com/lighting-control-…t-2018-2023.aspx
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Asia Pacific is expected to remain the largest region and will experience the highest growth over the forecast period due to the increasing lighting demand in China and India.
This growth will also be supported by development in smart cities, increasing penetration of intelligent lighting systems, and increasing awareness for energy efficient lighting products.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing demand for daylight sensors, growth in camera-based lighting control technology, and development of hybrid lighting control systems. General Electric, Cree Inc., Osram, Philips, and Lutron are among the major lighting control manufacturers.
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The study includes a forecast for the global lighting control market by application, installation type, connection type, product and region as follows:
By Product Type [$M shipment analysis from 2012 to 2023]:
- LED drivers
- Switches & Dimmers
- Relay Units
By Application Type [$M shipment analysis from 2012 to 2023]:
- Highways & roadways lighting
- Lighting for public places
By Installation Type [$M shipment analysis from 2012 to 2023]:
- New installation
- Retrofit installation
By Connection Type [$M shipment analysis from 2012 to 2023]:
- Powerline communication
By Region [$M shipment analysis from 2012 to 2023]:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- The Rest of the World
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