Growth Opportunities for the Global Lighting Control Market
NEW YORK, April 4, 2018 /PRNewswire/ -- The future of the lighting control market looks attractive with opportunities in the residential, commercial, and industrial sectors. The global lighting control market is expected to reach an estimated $21.1 billion by 2023 with a CAGR of 12% from 2018 to 2023. The major growth drivers for this market are growth in development of smart cities, increasing adoption of Internet of Things (IoT) in the lighting industry, rising utility costs, and favorable government regulations for energy efficiency.
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Emerging trends, which have a direct impact on the dynamics of the lighting control industry, include increasing demand for daylight sensors, growth in camera-based lighting control technology, and development of hybrid lighting control systems.
Global Lighting Control Market Trends Global Lighting Control Market Forecast Growth Opportunities for the Global Lighting Control Market by Application
The study includes the lighting control market size and forecast for the global lighting control market through 2023 by application, installation type, connection type, product and region as follows:
Global Lighting Control Market by Product Type [$M shipment analysis from 2012 to 2023]:
LED drivers
Sensors
Switches & Dimmers
Relay Units
Gateways
Global Lighting Control Market by Application Type [$M shipment analysis from 2012 to 2023]:
Indoor
Residential
Commercial
Industrial
Outdoor
Highways & roadways lighting
Lighting for public places
Architectural
Global Lighting Control Market by Installation Type [$M shipment analysis from 2012 to 2023]:
New installation
Retrofit installation
Global Lighting Control Market by Connection Type [$M shipment analysis from 2012 to 2023]:
Wired BACnet
Powerline communication
Wireless
Zigbee
Bluetooth
EnOcean
Global Lighting Control Market by Region [$M shipment analysis from 2012 to 2023]:
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Asia Pacific
Japan
China
South Korea
India
The Rest of the World
Lighting control companies profiled in this market include General Electric, Cree Inc., Osram, Philips, and Lutron.
In this market, LED drivers, sensors, switches & dimmers, relay units, and gateways are used for lighting control in residential, commercial, industrial, and various outdoor lighting applications. LED drivers will remain the largest product type and are expected to witness the highest growth over the forecast period due to increasing penetration of LED lighting, increasing utility and maintenance cost, and increasing demand for connected lighting.
Within the lighting control market, the indoor lighting application will remain the largest market; it is also expected to witness highest growth rate due to the increasing penetration of smart lighting system and increasing customer awareness for energy efficiency.
Asia Pacific is expected to remain the largest region and will experience the highest growth over the forecast period due to the increasing lighting demand in China and India.
Some of the features of "Growth Opportunities for the Global Lighting Control Market 2018-2023: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global lighting control market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
Segmentation analysis: Global lighting control market size by various applications such as application, installation, connection, and product in terms of value and volume shipment.
Regional analysis: Global lighting control market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of lighting control in the global lighting control market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of lighting control in the global lighting control market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global lighting control market by application (indoor and outdoor), installation type (new installation and retrofit installation), connection type (wired and wireless), product (LED driver, sensors, switches & dimmers, relay units and gateways) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the lighting control market?
Q.5 What are the business risks and threats to the lighting control market?
Q.6 What are the emerging trends in this lighting control market and reasons behind them?
Q.7 What are some changing demands of customers in the lighting control market?
Q.8 What are the new developments in the lighting control market? Which companies are leading these developments?
Q.9 Who are the major players in this lighting control market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this lighting control area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred by the major lighting control suppliers in the last 5 years in lighting control market?
Read the full report: https://www.reportlinker.com/p05264960
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