The Global Intelligent Lighting Controls Market is projected to grow at a CAGR of 17.4% during the forecast period 2020-2027. As per the detailed market study, the global intelligent lighting controls market was valued $7.49 billion in the year 2019 and is anticipated to reach $26.06 billion by the year 2027.
Intelligent lighting controls are also known as automated lighting, moving heads, moving lights or simply movers. The control system receives information, decides what to do with it, and then adjusts lighting power accordingly. These are mostly use in the smart building & smart home and automotive sector.
With rapid development of smart infrastructure or smart lighting, intelligent lighting controls are gaining popularity worldwide. The major driver for the growing demand of smart lighting is increasing readiness to adopt new technology, especially in North American, European and Asian regions. Moreover, smart lighting control system helps in effective utilization of energy sources by providing customized lighting levels for optimal working conditions. Thereby increasing concern for saving electricity has also witnessing rising demand for intelligent lighting control installation in both commercial and residential sector.
Geographical Overview of the Global Intelligent Lighting Controls Market
Europe held the highest market share in 2019. The major driver for European region is the stringent government regulations on energy management and tax incentives. Further, Asia Pacific is also anticipated witness a significant growth in over the forecast period due to growing demand across various smart building &smart home. Moreover, government initiatives in the region also expected to boost the demand for intelligent lighting controls systems. For instance, in January 2020, Kunal Kumar, joint secretary & mission director of Smart Cities Mission has announced that after completing Smart Cities Mission to 100 cities, the Indian government will expand the Smart Cities Mission to all 4,000 cities in the country. The mission is expected to expand housing for all, build better infrastructure, and develop open spaces among other things. Further, this expected to contribute rising demand in Indian intelligent lighting controls market to a large extent over the study period.
Segmentation of the Global Intelligent Lighting Controls market
The global intelligent lighting control market is categorized on the basis of various market segments that include component and end-user. These major market segments are further categorized into various sub-segments to study the market in detail.
The Component of the Global Intelligent Lighting Controls Market is Sub-Segmented into:
- Sensors, Ballasts & Led Drivers
- Dimmers & Switch Actuators
- Transmitters & Receivers
- Intelligent Luminaries
The End-User of the Global Intelligent Lighting Controls Market is Sub-Segmented into:
- Commercial Buildings
- Residential Buildings
- Public Utilities
Competitive Landscape of the Global Intelligent Lighting Controls Market
Key players included in the global intelligent lighting controls market study are Acuity Brands, Cisco, Cree, Inc., Honeywell, OSRAM, Panasonic Corporation, Eaton, GE Lighting, Philips, and Siemens. These players are operating a robust supply chain network for the high penetration in this market. For instance, in May 2020, Panasonic Corporation has announced to make an equity investment in Blue Yonder, a leading end-to end supply chain provider. The expanded partnership is expected to accelerate the autonomous supply chain for Panasonic Corporation.
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