The Global Lighting Control System Market size is expected to reach $29.8 billion by 2030, rising at a market growth of 7.6% CAGR during the forecast period

Residential sector is widely deploying Lighting Control Systems to increase home’s security. Thereby, Residential sector acquired $3,962.7 million revenue in the market in 2022. Home lighting control systems have the ability to lower lights, thus controlling the energy consumption for each luminaire will extend the life of the lights.

New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Lighting Control System Market Size, Share & Industry Trends Analysis Report By Application, By Component, By Technology, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481379/?utm_source=GNW Due to this, the need for replacement is comparatively lesser. In addition, government missions to make smart cities is another factor of market expansion.For example, the Smart Cities Mission in India is a creative and new initiative by the Indian government to stimulate economic growth and raise people’s living standards. The Mission was supposed to last for five years and represent 100 cities. According to the UK government’s Smart Cities Pitchbook, approximately 7 billion people will live in cities by the year 2050, creating a significant demand for smart city goods and services. The world’s population is projected to reach 9.7 billion by then. By 2020, it is anticipated that the smart cities will be worth more than GBP 900 billion, which is about equal to the GDP of the twelfth-largest country on earth.The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2023, Lutron Electronics announced the launch of a Diva smart dimmer in six colors, and a new Claro accessory smart switch, to the Caséta suite of products. Furthermore, the Caséta suite of products delivers wireless, multi-location control through the Pico smart remote, the Claro smart accessory switch would deliver a wired option for multi-location control with the Claro smart switch and Diva smart dimmer. Additionally, In February, 2023, Signify released Philips StoreFlow, the first-ever retail luminaire with a housing made of more than 68% bio-based plastics – which is a special focus at EuroShop. The launched product is the first Philips luminaire that delivers high-contrast lighting, providing the latest shopping aisle experience with a commitment to products and a lively atmosphere. Based on the Analysis presented in the KBV Cardinal matrix; Eaton Corporation PLC are the forerunners in the Market. In May, 2019, Eaton Lighting unveiled Trellix, a connected lighting platform. The launched product is an open IoT platform and infrastructure that connects intelligent sensors to provide actionable insights via the collection of valuable data. This enables building owners and operators across various industries including manufacturing, commercial offices, education, healthcare, hospitality, and retail to enhance occupant experience and operational efficiency. Companies such as Signify N.V., Legrand S.A. (Legrand Group) and Acuity Brands Lighting, Inc. are some of the key innovators in the Market.Market Growth FactorsApplications for outdoor illumination are increasingly using LED lights and luminairesSaving money and energy is a major factor in choosing LED lighting over conventional lighting. In outdoor lighting applications, LEDs are taking the place of traditional light sources like fluorescent, high-intensity discharge (HID), incandescent, and high-pressure sodium lights. Applications for outdoor lighting are typically found on highways, streets, public spaces, and stadiums. Compared to conventional lighting sources, LED lights and luminaries have a higher energy efficiency. Therefore, employing LED lighting more frequently would lead to decreased energy consumption and consequently lower energy needs. This is leading to market growth.Increasing preference for energy-saving lighting optionsDue to a variety of factors, including greater focus on reducing carbon emissions, and the growing demand from consumers for energy-efficient lighting products; utility operators, building, and industry energy managers are inclined to use energy-efficient lighting solutions. The amount of energy waste and carbon emissions are rising as a result of increased energy use, which is projected to lead to a rise in demand for energy-efficient lighting solutions and the expansion of the market. Energy is used extensively for street lighting as well as for lighting in commercial and industrial structures. Lighting control systems would therefore be in high demand due to the growing need for energy-efficient solutions.Market Restraining FactorsHigh cost to be spent initially and while deploymentThe performance of LED lights and the products that use them is inversely related to temperature. The performance of LEDs decreases with increasing temperature. The light output of an LED varies as a function of junction temperature because LED lights are powered by electricity, and electricity produces heat. This is because of the constant current used in LEDs. This obstacle prevents the broad adoption of smart lighting control systems. The impact of this restriction is anticipated to be reduced in the near future, though, due to factors including the decreasing price of LEDs and the substantial cost and energy savings from carrying out energy-efficient lighting control systems.Component OutlookBased on component, the market is categorised into solution and services. The services segment acquired a substantial revenue share in the market in 2022. Modern smart lighting control demands automation, security, stability, future upgrades, maintenance, and lifespan to survive current and future technological developments. Various vendors are offering personalized services for lighting control that also save the cost of users. As a result of this, the market is predicted to witness growth in this segment.Technology OutlookOn the basis of technology, the market classified into wired and wireless. The wired segment held the highest revenue share in the market in 2022. Wired systems are frequently used in commercial and industrial settings and provides a number of advantages, including better safety, lower maintenance costs, and improved energy efficiency. LED, fluorescent, and halogen lamps are just a few lighting fixtures that wired lighting control systems can control. One of the key factors fueling the growth in this segment is the rising demand for automated lighting solutions. The popularity of automated lighting solutions is growing as a result of their low cost and high energy efficiency.Application OutlookBy application, the is fragmented into indoor and outdoor. In 2022, the indoor segment registered the maximum revenue share in the market. The indoor light automation system takes flexibility and dependability into account. One can ensure they get the proper amount of light as and when needed using controlled indoor lighting systems. This aids in lowering energy use, which lowers power costs and reduces carbon impact. All these benefits of lighting control systems are attracting consumers to adopt the technology. In addition to this, due to the rising trend of smart homes market is estimated to grow significantly in this segment.Indoor OutlookUnder the indoor segment, the market is bifurcated into residential, industrial, and commercial. In 2022, the commercial segment witnessed the largest revenue share in the market. Commercial lighting control systems provide building owners and managers the option to change the color and brightness of their lights to improve productivity and comfort levels, referred to as human-centric lighting, and it is quickly becoming the norm in workplaces and other commercial settings where lighting may be used to create an atmosphere. The commercial sector is adopting lighting control systems faster due to the growing interest in lowering energy costs.Regional OutlookRegion wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market with the maximum revenue share. The US and Canada are the two main countries in the region of North America that prefer energy-efficient lighting control systems over conventional systems. Major developers and producers of these systems are based in North America, and these companies’ products are widely used in commercial and industrial indoor lighting applications. The demand from various industries and major competitors and product manufacturers of lighting control systems drive this region’s growth.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., Acuity Brands Lighting, Inc., Cree Lighting (Ideal Industries, Inc.), GE Current, a Daintree company, Legrand S.A. (Legrand Group), Eaton Corporation PLC, ams-OSRAM AG, Hubbell Incorporated, Dialight PLC and Lutron Electronics Co., Inc.Recent Strategies Deployed in Lighting Control System MarketPartnership, Collaboration and Agreements:Apr-2023: Signify partnered with Kontakt.io, a leading company in inpatient journey analytics. This partnership would allow healthcare providers to smoothly and affordably future-proof-proof building infrastructure and build an enhanced experience for patients and staff.Dec-2022: Acuity Brands came into an agreement with Dhyan Networks and Technologies, a provider of Central management system software and solutions. Under this agreement, Dhyan would integrate StreetMan, a streetlight management system with ROAM outdoor lighting control hardware. The integration would allow customers to continue benefitting from their investment in ROAM hardware and also could enjoy the modern lighting management experience StreetMan.Jun-2022: Eaton expanded its collaboration with Microsoft, a United States-based Information Technology company. Through this collaboration, both companies would boost applications of its EnergyAware uninterruptible power system (UPS) technology in key areas globally. Moreover, with the expansion of collaboration between Eaton and Microsoft developed to address primary industry developments consisting of sustainability, digital transformation, and the energy transition.Jan-2022: Acuity Brands, Inc. expanded its collaboration with Microsoft, a United States-based Information Technology company. This collaboration would bring the latest abilities to Acuity Brands’ lighting controls, smart lighting, and building automation solutions.Product Launches and Product Expansions:Feb-2023: Signify released Philips StoreFlow, the first-ever retail luminaire with a housing made of more than 68% bio-based plastics – which is a special focus at EuroShop. The launched product is the first Philips luminaire that delivers high-contrast lighting, providing the latest shopping aisle experience with a commitment to products and a lively atmosphere.Jan-2023: Lutron Electronics announced the launch of a Diva smart dimmer in six colors, and a new Claro accessory smart switch, to the Caséta suite of products. The product is now available in six colors, consisting of white, black, grey, brown, ivory, and light almond. Furthermore, the Caséta suite of products delivers wireless, multi-location control through the Pico smart remote, the Claro smart accessory switch would deliver a wired option for multi-location control with the Claro smart switch and Diva smart dimmer.Sep-2021: Legrand India introduced Living Now, the transformative spectrum of electric controls. The product design characterizes high purity of design and the specifications of its geometries to fit all homes. Additionally, the Living Now could be installed to show its advanced capability with connected smart systems.Feb-2021: Legrand launched C by GE Hubless Three-Wire Smart Switch and two Hubless Dimmer models, a new generation wireless and battery less switch. The launch aims to the connected home highly sustainable by decreasing environmental impact and maintenance operations due to battery use.Acquisitions and Mergers:Mar-2023: Signify completed the acquisition of Intelligent Lighting Controls, Inc., a manufacturer of wired control systems. With this acquisition, Signify adds technology and a competitive portfolio to modify the uptake of energy-saving solutions and broaden its connected offering.Dec-2022: Legrand completed the acquisition of Encelium, a manufacturer of advanced commercial lighting controls. Following this acquisition, Legrand would strengthen its position in the area of commercial lighting control.Feb-2022: GE Current, a Daintree company, acquired Hubbell® Incorporated’s commercial and industrial (C&I) lighting business, building a comprehensive suite of lighting solutions businesses. With this acquisition, the combined latest business would be branded as Current. Additionally, with this acquisition, the enhanced distribution presence and digital tools to service customer needs more rapidly, easily, and smoothly.Jan-2022: Eaton acquired Royal Power Solutions, a U.S.-based manufacturer of high-precision electrical connectivity components used in electric vehicles, mobility, energy management, and industrial markets. The acquisition of Royal Power Solutions enhances Eaton’s capability to maximize this neutral growth trend in Eaton’s eMobility, aerospace, and electrical business segments.Jul-2021: Signify acquired Telensa Holdings Ltd, a company specializing in control systems and wireless monitoring for smart cities. Through this acquisition, Signify would add the TALQ-compliant and narrow-band solution to its advanced, open, and secured systems. The addition would allow Signify to service a wider range of customers, by making smart cities affordable to cities using the unlicensed radio space.Mar-2021: Eaton today took over Tripp Lite, a manufacturer of power protection and connecting electrical devices. Under this acquisition, the addition of Tripp Lite’s complementary product portfolio would advance the breadth of its edge computing and distributed IT product suite and broaden its single-phase UPS business.Scope of the StudyMarket Segments covered in the Report:By Application• Indooro Commercialo Residentialo Industrial• OutdoorBy Component• Solution• ServicesBy Technology• Wired• Wirelesso Wi-Fio Bluetootho ZigBeeo Proprietaryo Hybrido OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Signify N.V.• Acuity Brands Lighting, Inc.• Cree Lighting (Ideal Industries, Inc.)• GE Current, a Daintree company• Legrand S.A. (Legrand Group)• Eaton Corporation PLC• ams-OSRAM AG• Hubbell Incorporated• Dialight PLC• Lutron Electronics Co., Inc.Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06481379/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________