Lighting Control System Market size worth USD 106.03 Billion by 2035

New York – October 10, 2023 - Research Nester’s recent market research analysis on Lighting Control System Market: Global Demand Analysis & Opportunity Outlook 2035delivers a detailed competitors analysis and a detailed overview in terms of market segmentation by component, technology, installation type, end use application, and by region.

Surge in Smart Cities Initiatives to Drive the Expansion of Global Lighting Control System Market

The global lighting control system market is expected to grow owing to rising smart cities initiatives. Many academics from across the world are interested in the creation of a smart lighting control system in a smart city. Over the existing street lighting, the lighting control system is a major improvement. The installation of a lighting control system can provide excellent solutions that improve the livability of smart cities and the level of living of their inhabitants. Therefore, it is anticipated that it would present a lucrative opportunity for market expansion.

Furthermore, reducing data collection prices, wireless technologies, edge-capable hardware, and cloud-based administration platforms have boosted the cost-effectiveness of intelligent lighting systems for many small- to medium-sized installations. An industry-wide paradigm shift brought on by an influx of lighting entrepreneurs is signalled by the fact that lighting control networks are becoming a more popular choice when developing IoT systems. The market for lighting control systems is estimated to be driven throughout the anticipated time period by the growing demand for IoT-enabled lighting systems.

Since the advent of technologies like Power over Ethernet (POE), the integration of lighting into IT infrastructure has continued. However, for lighting manufacturers, who traditionally relied on completely proprietary and segregated buses and equipment, this integration is still relatively new. With regard to throughput, reachability for lighting management, and data reporting, this offers a novel perspective on the lighting design phase. Performance guarantees are also introduced.

Access our detailed report on Lighting Control System Market Size & Share by Component [Hardware (LED Drivers & Ballasts, Sensors, Switches & Dimmers, Others), Software, Services]; Technology [Wired (PLC, POE, Others), Wireless (Wi-Fi, Bluetooth, Others)]; Installation Type (Retrofit, New Installation); End Use Application [Indoor (Residential, Commercial, Industrial), Outdoor (Highways & Roadways Lighting, Architectural Lighting, Others)] - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2022-2035

https://www.researchnester.com/reports/lighting-control-system-market/4841

By installation type, the market for lighting control system is segmented into retrofit, and new installation. Among these, the new installation segment is projected to garner the highest revenue of USD 60.8 billion by the end of 2035. The segment will expand rapidly in the coming years as a result of rising construction activity and consumer demand for lighting products that are more aesthetically pleasing and efficiently save energy in all lighting configurations while also generating data via measuring and/or monitoring, creating various moods, and enhancing functionality.

By region, the market for lighting control system in Asia Pacific excluding Japan is expected to grow at the highest CAGR of 17.45% over the forecast period. Due to the rapid urbanization, infrastructure development, rising energy efficiency programmes, and increasing use of smart technologies throughout China, India, and Australia, APEJ is the largest and fastest growing regional lighting control system market in the world.

This report also provides the existing competitive scenario of some of the key players of the global lighting control system which includes company profiling of Signify Holding, Current Lighting Solutions Inc., Legrand, Eaton, ACUITY BRANDS, INC., OSRAM GmbH, Cree Lighting, Lutron Electronics Co., Inc, Leviton Manufacturing Co., Inc., Dialight, and others.

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