Research Nester has released a report titled “Intelligent Lighting Control Market – Global Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the global intelligent lighting control market in terms of market segmentation by lighting components, connection type, luminary type, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global intelligent lighting control market is segmented by lighting components into dimmers & switches. sensors, microcontrollers & microprocessors, intelligent luminaries and others, out of which, sensors segment held the largest market share of around 30% in the year 2017. The segment in the global intelligent lighting control market is further anticipated to cross USD 5600 million by the end of 2026 by registering a CAGR of around 15% throughout the forecast period, i.e. 2019-2026. On the other hand, the microcontrollers & microprocessors segment is anticipated to grow with the highest CAGR of around 18% during the forecast period.
The global intelligent lighting control market is anticipated to achieve a CAGR of around 16% during the forecast period. Growing demand for intelligent lighting control systems from nations around the world, especially developed nations, where there are numerous advancements in various sectors, along with the increasing government expenditure on developing smart cities, growing urbanization worldwide, increasing government expenditure on providing residential homes along with the growing civil and construction industry are some of the factors anticipated to contribute significantly towards the growth of the global intelligent lighting control market. The global intelligent lighting control market is expected to cross USD 20,000 million by the end of 2026 from USD 5000 million in the year 2017.
Regionally, the global intelligent lighting control market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe is anticipated to hold a notable market share of around 25% in the year 2026 by growing at a growth rate of around 3x during the assessment period owing to the surge in the adoption of connected and smart home devices, along with the increasing construction of commercial and residential spaces. Moreover, the intelligent lighting control market in the region is anticipated to register a CAGR of around 14% during the forecast period. Additionally, intelligent lighting control market in Asia Pacific is predicted to grow with the highest CAGR of around 20% during the forecast period.
Growing Demand for Cost and Energy Efficient Lighting Systems
Demand for electricity around the world have increased massively over the years owing to growing urbanization, increasing adoption of consumer appliances and others, which has contributed to the high prices of electricity, thereby raising the need amongst consumers to avail electrical equipment and appliances that consume low electricity. Intelligent lighting control systems help lower the cost of electricity consumed by efficiently managing lighting equipment. As such, there is a rising demand for intelligent lighting control systems amongst the end users on the back of the need to save their expenses spent on electricity. Moreover, advancements in the lighting systems over the years along with the advancement in other technologies, such as light dimming technology, incorporation of wireless technologies, development of energy efficient lighting control systems, along with systems that can be controlled by the deployment of sensors are some of the factors that is raising the need for the implementation of lighting control systems across various applications, which is anticipated to drive the growth of the global intelligent lighting control market.
However, concerns regarding high cost of replacement of intelligent lighting control systems that affect the consumers from low- and middle-income nations and the growing labor costs for installation of these systems are some of the factors anticipated to limit the growth of the global intelligent lighting control market.
This report also provides the existing competitive scenario of some of the key players of the global intelligent lighting control market, which includes company profiling of Signify Holding (AMS: PHIA), Honeywell International Inc. (NYSE: HON), General Electric (NYSE: GE), OSRAM GmbH (ETR: OSR), Acuity Brands Lighting, Inc. (NYSE: AYI), Hubbell Incorporated (NYSE: HUBB), Schneider Electric (EPA: SU), Eaton (NYSE: ETN), Aclara Technologies LLC and Leviton Manufacturing Co., Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global intelligent lighting control market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.