Lighting Control System Market size is poised to cross USD 218.44 Billion by the end of 2035, expanding at a CAGR of 17.80% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of lighting control system was around USD 30.59 Billion. The growth of the market can be attributed to the surging demand for lighting control in order to reduce the consumption of energy. Moreover, there has been an increase in awareness among people about energy management. As per the estimates, incandescent light bulbs consume around 60 watts of electricity, and LED light bulbs use nearly 10 watts.
In addition to these, factors that are believed to fuel the market growth of lighting control system include improving employee productivity by providing the ability to adjust the light levels in order to suit the task at hand. It reduces eye strain and improves the concentration level of employees by providing proper task lighting. Moreover, it can save money, lower carbon emissions, and provide the right amount of light when and where it is needed.
Base Year |
2022 |
Forecast Year |
2023-2035 |
CAGR |
~17.80% |
Base Year Market Size (2022) |
~ USD 30.59 Billion |
Forecast Year Market Size (2035) |
~ USD 218.44 Billion |
Regional Scope |
|
Growth Drivers
Challenges
End Use-Applications (Outdoor, Indoor)
Lighting control system market from the outdoor division is anticipated to hold the largest share in the upcoming years. There has been a rising number of outdoor lighting applications including railway stations, highways, parks, stadiums, and others. Moreover, there has been a surge in the use of luminaries and LED lights for outdoor lighting systems, along with the growing acceptance of protocols and regulations from the government is further expected to expand the growth of the segment in the market. Public lighting accounts for more than 1 percent of the electricity consumption in India, as per recent reports.
Communication Protocol (Wired, Wireless)
In the year 2035, the wireless segment in the lighting control system market is predicted to have a considerable portion of roughly 56%. This can be attributable to technological advancements that have become part of the smart lighting control system, such as Bluetooth. Moreover, there has been an increasing demand for automated lighting systems, such as in countries such as India, the United States, and others.
Our in-depth analysis of the global market includes the following segments:
Communication Protocol |
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End Use-Applications |
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Installation Type |
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Type |
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North American Market Statistics
North America lighting control system market is expected to hold 38% share of the global lighting control system market by 2035. The increasing use of energy-efficient solutions in relation to the lighting control system, as well as the increasing penetration of smart homes, are driving market expansion in the region. In the United States, the current penetration rate of smart homes is more than 40 percent. Moreover, there is a presence of key manufacturers in countries such as the United States that includes General Electric Company, Lutron Electronics, and others. In addition, the increasing adoption of smart homes, followed by the improving standard of living among people, is further estimated to boost the gain of the lighting control system market in the North America region.
European Market Forecast
The Europe lighting control system market is expected to be the 2nd largest, with a share of approximately 24% by the end of 2035. The market's expansion can be attributed mostly to the increased installation of new smart lighting systems with enhanced sensors. Furthermore, there has been a rising population of people living in urban areas, followed by increasing disposable income in countries such as the UK in the European region. In addition, the stringent regulations by the government to cut energy and light pollution are another factor that is contributing to the extension of the lighting control system market in the region.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Rising focus on reduction of carbon footprint, and growing commercial and non-commercial buildings are the major factors driving the market growth.
Ans: The market size of lighting control system is anticipated to attain a CAGR of ~17.80% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Honeywell International Inc., Panasonic Corporation, General Electric Company, Eaton Corporation plc, RAB Lighting Inc., Schneider Electric, Signify Holding, ACUITY BRANDS, INC., Taiwan Semiconductor, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by installation type, type, end use- application, communication protocol, and by region.
Ans: The outdoor segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: The requirement of high initial and deployment costs, and interoperability issues are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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