The global intelligent lighting control market size is projected to be worth US$ 22,940 Mn in 2022. During the projection period of 2022 to 2032, the market is predicted to grow at a CAGR of 16.5%, with a valuation of US$ 105,640 Mn by 2032. Major factors propelling the demand for intelligent lighting control include:
Lighting control system is an intelligent network based electronic system with an ability to regulate or control the quality, level or pattern of lighting as per the user requirement. This system consists of different sensors, input and output devices, communication system and one or more central processing unit. By the time, normal switches have been used to control lighting.
These switches work in two condition either on or off, this means irrespective of surroundings requirement it gives exact same amount of light all the time, but on the flip side by using intelligent lighting system, user can change intensity of light, its color, and pattern of light and this improves user experience as well as helps to save the electricity.
There are also some advanced intelligent lighting system which can store personalized lighting setting and provide tailored lighting solution in any room or space.
It is estimated that by the end of 2026, global intelligent lighting control market is expected to reach a market size of approximately US$ 5 Bn, this figure is nearly twice of present market value of global intelligent lighting control.
| Attributes | Details |
|---|---|
| Intelligent Lighting Control Market Value (2022) | US$ 22,940 Million |
| Intelligent Lighting Control Market Forecast Value (2032) | US$ 105,640 Million |
| Intelligent Lighting Control Market CAGR (2022 to 2032) | 16.5% |
Government restrictions on the usage of energy-efficient products also help the industry expand. The expansion of these systems has been constrained, nevertheless, by the higher installation costs and longer payback times of LED lights. Future developments in low-cost sensors and falling LED product costs would reduce installation costs, opening up a wide range of growth prospects for the market for intelligent lighting controls.
To reduce CO2 emissions and encourage efficient power use and management, the governments of many nations have launched several projects. As these systems enable effective use of power in lighting with low wastage, supporting government measures helps to fuel the growth of the intelligent lighting controls market.
With mandatory regulations imposed by the governments of respective regions, regions like the U.S., the UK, China, and India are demonstrating a prominent demand for intelligent lighting controls, which is anticipated to offer lucrative opportunities for the intelligent lighting controls market globally.
The idea of smart cities is spreading throughout many areas, and several government programs promote this movement. Since a linked system makes up a smart city, automated lighting systems are necessary for general lighting applications. Sensor-based control systems are used in these automated lighting systems. As a result, companies in the intelligent lighting control industry are projected to see high demand during the forecast period.
Commercial buildings, residential structures, and public utilities are among the popular end users of intelligent lighting controls. The revenue from commercial buildings accounts for around 58% of the total market revenue. Due to increased electricity usage and a higher emphasis on energy management to save electricity costs, intelligent lighting controls system manufacturers are anticipated to witness lucrative growth opportunities.
The key trend of global intelligent lighting control market is the tremendous increment in the demand of intelligent lighting control in the commercial buildings.
There are various factors driving the growth of global Intelligent lighting control market such as the advantages provided by Intelligent lighting control system over the traditional switch operated lighting systems; it is more economic and energy efficient, it provides better experience to the users as compare to the traditional lighting system, other drivers include robust demand from the residential sectors, declining price of light emitting diode source of light gives rise to the adoption of intelligent lighting control system, also the government favorable policies to use LED lighting instead of other luminaries are driving the growth of global intelligent lighting control market.
On the other side, there are some factors which are responsible to hinder the growth of global intelligent lighting control market, one of them is the lack of knowledge regarding the installation cost of whole intelligent lighting control system and payback period of the same.
Segmentation of intelligent lighting control market is done on the basis of component type, connection type, end user and Geography. On the basis of component type, global intelligent lighting control market is segmented into following segments; sensors, ballast and LED drivers, micro controllers, dimmers and switch actuators, transmitters & receivers and intelligent luminaries.
On the basis of the connection type, global intelligent lighting system market is segmented into wired and wireless, among which wireless system is more popular as it requires less space and also provides quick response as compared to former one.
On the basis of end user, global intelligent lighting control market is segmented into following segments; commercial buildings, residential buildings and public utilities. Among these three segments, commercial buildings segment comprises maximum market share, which is even more than 40% of total market size.
On the basis of Geography, Intelligent lighting control market is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA).
Among all the seven region, North America is the highest contributor in term of revenue in global intelligent lighting control market, and it is estimated that Asia Pacific is the fastest growing market for intelligent lighting control provider across the globe during forecast period.
Key players of global intelligent lighting control market are; General Electric, OSRAM Licht AG, Eaton Corporation PLC, Legrand S.A., Koninklijke Philips N.V., Acuity Brands, Inc. and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Intelligent Lighting Control Market
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