SAN ANTONIO, April 18, 2012 /PRNewswire/ -- The lighting controls market is poised for continued growth. The need for energy savings and peak demand reduction are key drivers for growth in the lighting controls market. Government stimulus programs, stringent energy efficiency directives and mandates have further fueled the demand for efficient lighting products. In 2011, the lighting controls market witnessed a growth spike as a result of government spending on energy conservation initiatives. The market size, including lighting controls modules, user interfaces, and sensors, totaled over $1.9 billion in 2011, an 8.6 percent increase from the previous year. The market will also sustain growth from new construction projects, which were in a state of decline in years past. Although energy code compliance is driving users to implement lighting controls to demonstrate savings, the growing demand is for low-cost and simpler options. The use of sensors and dimmers remain in high demand due to their low cost, reasonable energy savings, added ambience and scene setting functionalities. Networked controls are also growing rapidly, especially the distributed controls systems with digital calibration capabilities.
Verify Markets has just released a study on the European and North American Lighting Controls Market. The studies project that the combined market size will approach $2.4 billion by 2016, due to continued need for energy efficiency and sustainability and combating increasing energy prices. Companies featured in the report include Zubtobel Lighting, Hubbell Lighting, Cooper Lighting, Schneider Electric, Philips, Acuity, Osram Sylvania, Lutron, Siemens and Legrand among many others.
A complete analysis of the European and North American lighting controls markets can be obtained at www.verifymarkets.com.
Contact: Haley Rico
Email: [email protected]
SOURCE Verify Markets