The lighting contactor market is projected to grow from USD 737.8 million in 2018 to USD 1,111.0 million by 2023, at a CAGR of 8.53% from 2018 to 2023

LONDON, Oct. 15, 2018 /PRNewswire/ -- The lighting contactor market is projected to grow at a CAGR of 8.53% from 2018 to 2023

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The lighting contactor market is projected to grow from USD 737.8 million in 2018 to USD 1,111.0 million by 2023, at a CAGR of 8.53% from 2018 to 2023. The market for the lighting contactors is driven by the increasing adoption of lighting control and management systems. Lighting contactors is are used to control the flow of electricity in the circuit, which is used to power the lighting in the given area. The lLighting control and management systems are used to meet the lighting efficiency standards required by the different government regulations. Higher installation cost and limited awareness about the payback period are restraints for the lighting contactor market.

Commercial segment is expected to be the fastest growing segment of the lighting contactor market, by end-user, during the forecast period
The Ccommercial segment includes set ups such as corporate offices, healthcare and retail complexes, hotels, and educational institutes.The awareness regarding the benefits of increasing energy -efficient lighting solutions is propelling among different stake holders in the commercial segment.

The energy- efficient lighting solution replicates benefits in the form of lower energy cost.The lighting control and management system increases the energy efficiency of the lighting system.

Hence, the adoption of lighting control and management system is expected to grow in the commercial segment, which in turn, will would drive the lighting contactor market.

Electrically Held segment is expected to be the largest segment of the lighting contactor market, by type, during the forecast period
The eElectrically held lighting contactors find its their major application in commercial and industrial end-user segments.The commercial and industrial end-user segments is are expected to swiftly adopt the efficient lighting control and management system as it increases energy efficiency and reduces the cost of energy.

Thus, the electrically held segment is expected to be the largest segment for of the lighting contactor market by type.

Asia Pacific: the Kkey market for lighting contactor markets
Asia Pacific is the fastest growing lighting contactor market during the forecast period due to the increasing adoption of efficient lighting systems by commercial, industrial, and municipal end-user segments.The major economies in the region such as India, China, and Japan are the commercial hubs for manufacturing and service industry.

The commercial and industrial end-user segments are adopting lighting control and management systems to lower the energy cost. Also,In addition municipal the government authorities in these countries are adopting smart lighting systems for street lights to reduce energy consumption, thereby driving the lighting contactor market.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, industry consultants, and other experts to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1—35%, Tier 2—28%, Tier 3—37%
• By Designation: C-Level—55%, Manager Level—30%, Others—15%

By Region: North America—42%, Europe—22%, Asia Pacific—18%, Middle East & Africa —15%, South America —3%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = From USD 1 billion to USD 5 billion, and Tier 3 =
Note: Others includes sales managers, marketing managers, product managers, and engineers.
The leading players in the lighting contactor market are ABB (Switzerland), Siemens (US), Schneider Electric (France), Eaton (Ireland), and Rockwell Automation (US).

Research Coverage:
The report provides a picture of the lighting contactor market across the different industries and regions.It aims at estimating the market size and future growth potential of the market across different segments such as type, end-user, application, and region.

Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.
For the purpose of this report, the market has been segmented on the basis of type, application, end-user and region with a focus on industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the lighting contactor market market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the lighting contactor market
• Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for lighting contactor market across regions
• Market Diversification: Exhaustive information about new products, untapped markets, recent developments, and investments in the global lighting contactor market

Why buy this report?
1. The report identifies and addresses key markets in different industries for the implementation of lighting contactor, which would help manufacturers review the growth in demand.
2. The report helps solution providers understand the pulse of the market and provides insights into the drivers, restraints, and challenges of the market.
3. The report will help key players understand the strategies of their competitors better and, thus, will help in the decision-making process.

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