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Lighting Control System Market by Installation Type, Offering, Application, Communication Protocol, and Geography - Global Forecast to 2023

Lighting Control System Market: Global Forecast until 2023

  • July 2017
  • 196 pages
  • ID: 4998214
In this report:
The market for sensors is expected to register a shipment of ##.## million units by 2023, at a higher CAGR of ##.##% during the forecast period.
The lighting control and management system market for hardware, by device type, registered a shipment of ##.## million units in 2016 and is expected to reach ##,##.## million units by 2023, at a CAGR of ##.##% during the forecast period.

Summary

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"Requirement of energy efficient lighting control systems and growing adoption of Internet of Things in lighting industry to drive the rise of the lighting control system market"

The lighting control system market is anticipated to grow ~$12.2B in 2016 to ~$38.7B by 2023, at a compound annual growth rate (CAGR) of ~17.8 percent between 2017 and 2023. The acceptance of standard protocols for lighting control and modernization and infrastructure development are the main factors that drive the increase of the lighting control system market. The main restraining factors for the rise of lighting control system market contain the perception of higher cost of installations and limited awareness about payback periods, and security and privacy issues in IoT-based lighting systems.

"Services industry for lighting control system is anticipated to grow at the maximal rate during the outlook period"

Lighting as a service is defined mostly as the third-party management of lighting systems, which may include additional technical, maintenance, financial, or other services. Lighting as a service solves the problem of paying a big lump sum money for a lighting retrofit. The increase of the service segment is primarily propelled by the use of lighting services for cost savings, together with the purpose of energy conservation and ecologically safe option.

"Indoor application to hold a main share of the lighting control system market between 2017 and 2023"

Indoor application is forecasted to account for the biggest market share in the lighting control system market during the estimate period. The lighting control system market for the indoor lighting application has been broken down into residential, commercial, industrial, and others applications that contain government and public buildings and educational institutes. The rise of the indoor lighting applications is due to the increase in overall construction industry. A main portion of this increase activity would be invested in the lighting industry.

"Lighting control system market in Asia-Pacific forecasted to grow at the highest compound annual growth rate (CAGR) during the outlook period "

Asia-Pac is anticipated to be the quickest-increasing area for the lighting control system market during the estimate period, due to the quick infrastructure building activities being undertaken in the Asia-Pacific regions, primarily China where smart lighting paves the way for the modernization of infrastructure. The emerging economies of China and India (IN) are also impacting the global lighting control system market significantly. Asia-Pacific also held the biggest share of the lighting control system market during the outlook period.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with the main experts. The breakup of the profiles of primary members taking part is like:

• By Company category: Tier 1 - 55 %, Tier 2 - 20.0 percent, and Tier 3 -25.0 percent

• By Description: C-suite executives - 34.0 percent Directors - 33.0 percent Others - 33.0 percent

• By Territory: North America continent - 37.0 percent, Europe (EU) - 34.0 percent, Asia-Pac - 20.0 percent, and rest of the world - 9.0 percent

The firms that provide a range of customized solutions to customers are anticipated to emerge as the game changers.

Segment Research

This business report includes the lighting control system market established on installation type, offering, application, communication protocol, and area. An in-depth study of the main industry actors has been done to furnish business insights into their business, products and services, and top strategies including product launches, product developments, alliances, contracts, strategic agreements, mergers and acquisitions, collaborations and business growths combined with the lighting control system market.

Main highlights

The analysis would benefit the market top players or new sector entrants in these ways:

1. This document breaks down the global market comprehensively and offers the closest approximations of the overall lighting control system market size and that of the sub-segments across distinct applications and localities.

2. The market research would benefit partners comprehend the pulse of the sector and offer them information on key market drivers, market restraints, opportunities, and alternatives in the lighting control system market.

3. This industry report would benefit partners better comprehend their players and obtain additional insights to improve their rank in the sector. The competitive outlook section includes competitor landscape, launches of new product, product developments, alliances, contracts, strategic agreements, mergers and acquisitions, collaborations and business developments elated to the lighting control system market.

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