Power Over Ethernet Lighting Market Worth $1,174 Million by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 13, 2019 /PRNewswire/ -- According to the new market research report "Power Over Ethernet Lighting Market by Offering (Hardware, and Software and Service), Wattage Type (Up to 25W and Greater Than 25W), Application (Commercial, Industrial, and Residential), and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Power Over Ethernet Lighting Market is projected to reach USD 1,174 million by 2024 from USD 256 million in 2019, at a CAGR of 35.6%. Major drivers for the market's growth are the increasing penetration and decreasing cost of LEDs, growing adoption of PoE lighting solutions in commercial and healthcare applications, and rising need for cost-effective lighting solutions. Opportunities for the PoE lighting market include improving POE standards for higher power, speed, and efficiency; growing adoption of smart and automated systems; and rising demand for smart workplaces. Major restraints for the market are the high cost of PoE switches and the requirement of additional equipment. Limited transmission distance and power delivery rates pose a major challenge for the PoE lighting market.

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Hardware segment held the largest size of PoE lighting market in 2018

The market has been segmented based on offering into hardware, and software and services. PoE lighting systems include hardware such as luminaires, switches, and other accessories. In 2018, the hardware segment accounted for an 89% share of the PoE lighting market. Increasing demand for energy-saving lighting systems is a key driving factor for the PoE lighting market for hardware. To enable a PoE lighting solution, several hardware components, including power sourcing equipment, powered devices, and other components, are required. Majority of the cost involved in deploying a PoE solution is for the hardware. With improving PoE standards, new, standardized switches are expected to commercialize, which would further propel the market for PoE lighting.

Greater than 25W is major contributor for PoE lighting and is expected to grow at highest CAGR during next 5 years

The PoE lighting market is segmented based on wattage type into up to 25w and greater than 25w. The greater than 25w segment is expected to dominate the PoE lighting market during the forecast period. PoE lighting with more than 25 W has many advantages, such as more brightness and illumination, and support for more direct/indirect loads. Improving PoE standards, coupled with the growing demand for high input-powered devices for lighting, are driving the said market. OEMs are developing integrated solutions in luminaires, which require more input power. Thus, there is a growing requirement for power sourcing equipment with high output to power the powered devices. This is further expected to propel the market for high wattage PoE lighting systems.

Commercial application to hold largest size of PoE lighting market during forecast period

Growing affordability and higher efficiencies are driving the use of PoE lighting in commercial buildings. The market for the commercial segment is also driven by the growing adoption of PoE lighting for offices and healthcare applications. As PoE lighting is more viable where there is existing IT infrastructure, the commercial segment is best suited for deploying PoE lighting solutions. PoE lighting makes installing or expanding a network much simpler and cheaper in office buildings where it is too expensive to install new power lines. Owing to such benefits, the market for PoE lighting solutions is likely to propel further.

North America is expected to hold largest size of PoE lighting market during forecast period

The leading position of North America can be attributed to the high demand for PoE lighting systems in this region due to the presence of a large number of PoE power sourcing equipment as well as powered device manufacturers. Companies such as Innovative Lighting (GENISYS) (US), Hubbell Incorporated (US), Ideal Industries (Cree) (US), H.E. Williams (US), Cisco Systems (US), Koch Industries (Molex) (US), Igor Inc. (US), and NuLEDs (US) are headquartered in this region. The region is also one of the early adopters of the technology, and the demand is majorly derived from the growing adoption of PoE lighting systems for commercial applications in the US.

Browse in-depth TOC on "Power Over Ethernet Lighting Market"

64 – Tables
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Signify (Philips Lighting) (Netherlands), Hubbell Incorporated (US), Innovative Lighting (GENISYS) (US), Deco Lighting (US), Ideal Industries, Inc. (Cree) (US), Eaton Corp. (Ireland), Herbert Waldmann GmbH & Co. Kg (Waldmann Lighting) (Germany), H.E. Williams (US), NAME Energy Group (MHT Lighting) (US), Ubiquity Networks (US), and ALLNET GmbH (Germany) are some of the major OEMs and solution providers of PoE lighting. Cisco Systems (US), Igor Inc. (US), NuLEDs (US), Koch Industries (Molex) (US), and Leviton (US) are among the few other important players in the market. Microchip Technology Inc. (Microsemi Corporation) (US), NETGEAR (US), Wipro Enterprise (Wipro Lighting) (India), euromicron AG (Microsens) (Germany), and The IBS Group LLC (US) are the key innovators operating in this space.

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