Luminaire and lighting control market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Luminaire and lighting control market by region.
The global luminaire and lighting control market was valued at US $71.89 billion in the year 2020, and the market is growing at a CAGR of ~6.5% during the forecast period 2021-2027.
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The luminaire and lighting control strategy consists of individual luminaires, and controls are independent of each other, thus maximizing incremental control within very small areas. An automated lighting control system consists of multiple lighting fixtures connected in a network to control the lighting. Improved energy efficiency, better performance, and a better customer experience are all benefits of lighting control. There are several applications for these systems across varied verticals, like aircraft, automobiles, home appliances, and many others. There is nothing more basic than a luminaire, which includes several lamps, a socket, and other accessories that hold and protect the lamp. Lighting fixtures of this type are battery- or electrically powered, with a control switch either attached to the body of the lamp or the power cable.
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Factors Impacting the Growth of the Luminaire and Lighting Control Market
Lighting controls have become increasingly popular for reducing energy consumption. Further, the luminaire and lighting control market has grown due to an increase in awareness about energy management.
Several government regulations encourage the use of energy-efficient products.
Sensors and LED products at lower prices will enable lighting controls markets to grow at a rapid pace because installation costs will be reduced, creating numerous growth opportunities.
The growing market for luminaires and lighting control is driven by the increasing demand for street and roadway lighting, energy-efficient lighting systems, and government initiatives to reduce energy use.
In the process of creating smart cities, smart lighting solutions are expected to provide a tremendous boost. Luminaire and lighting controls markets benefit from smart lighting that is effective at addressing sustainable development challenges.
The high initial installation price is a major restraint on the global market.
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Impact of Covid-19
Several aspects of the COVID-19 pandemic have led to significant disruptions, including workforce and travel restrictions, supply chain disruptions, reduced demand, and recessionary effects. The lack of infrastructure development and installation will hamper the market growth in the residential, commercial, and industrial sectors.
Revenue from luminaires and lighting controls dipped due to delayed construction projects, resulting in a substantial impact. During the pandemic, however, the demand from the medical industry has increased. Further, several market players have devoted resources to developing smart lighting systems, throughout the world, due to increasing government initiatives. The luminaire and lighting control market size is therefore forecast to increase by the end of 2021.
Slower production by OEMs and a decrease in demand for lighting systems and other electronic devices have led to a slight decline in the market for luminaires and lighting controls. Supply chain disruptions due to shortages of components and materials have considerably disrupted global markets. Moreover, the global economy has suffered from reductions in capital budgets and delays in planned projects in various industries.
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Regional Outlook
The North America luminaire and lighting control market dominates the global marketplace due to rise in digital infrastructure technologies. It is estimated that the Asia-Pacific luminaire and lighting control market will display the highest CAGR between 2021-2027.
Aim of the Report
A report on the global luminaire and lighting control market segments the market on the basis of product, component, light, technology, application, and region.
Segmentation based on Product
Luminaire
Lighting control
Segmentation based on Component
Hardware
Software
Services
Segmentation based on Light
Fluorescent
Halogen
HID
LED
Others
Segmentation based on Technology
Wired
Wireless
Bluetooth
Wi-Fi
ZigBee
Others
Segmentation based on Application
Indoor
Residential
Commercial
Educational Institutions
Healthcare Facilities
Offices
Restaurants and Hotels
Others
Industrial
Outdoor
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Segmentation based on Region
Europe
Asia-Pacific
North America
Middle East & Africa
Key Competitors
Acuity Brands, Inc.
Lutron Electronics Co., Inc,
Hubbell Incorporated
Eaton Corporation
Cree, Inc.
General Electric
Philips N.V.
Dialight
Legrand S.A.
OSRAM AG
What is the goal of the report?• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.• During the forecast period, the report analyzes the growth rate, market size, and market valuation.• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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