Overview and Scope
A lighting control system refers to various intelligent lighting appliances that can manage light quantity, nature, and quality in a specific area. Lighting control systems are used to maximize energy savings, uphold building codes, or adhere to energy efficiency and conservation programs.
Sizing and Forecast
The lighting control system market size has grown rapidly in recent years. It will grow from $36.56 billion in 2023 to $43.3 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to energy efficiency awareness, regulatory standard, sustainability initiatives, cost savings, workplace productivity.
The lighting control system market size is expected to see rapid growth in the next few years. It will grow to $84.36 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to iot integration, demand for smart homes, work-from-home culture, urban infrastructure upgrades, retrofitting demand. Major trends in the forecast period include gesture control systems, personalized lighting experiences, li-fi integration, focus on user experience, wireless connectivity.
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Segmentation & Regional Insights
The lighting control system market covered in this report is segmented –
1) By Installation Type: New Installation, Retrofit
2) By Offering: Hardware, Software, Services
3) By Communication Protocol: Wired, Wireless
4) By End-Use: Indoor, Outdoor
North America was the largest region in the lighting control system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lighting control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing commercial and non-commercial buildings are expected to propel the growth of the lighting control system market going forward. A commercial building refers to any non-residential structure that is not agricultural, industrial, or institutional. A non-commercial building is any structure or building not used for a commercial enterprise or as a residential residence. Using lighting control systems such as dimmers and color-changing bulbs offers a clever approach to incorporating networked controls inside offices, commercial buildings, and non-commercial buildings. For instance, in September 2022, according to the University of Michigan’s Center for Sustainable Systems, a US-based organization that develops systems analysis techniques, models, and indicators for developing sustainable futures, in the US commercial building floor space is anticipated to expand by 35% from 2021 and expected to reach 124.6 billion square feet by 2050. In addition, the average size of US homes expanded by 45% in 2021, from 2,185 to 2,565 square feet. Therefore, growing commercial and non-commercial buildings are driving the growth of the lighting control system market.
Key Industry Players
Major companies operating in the lighting control system market report are General Electric Co., Taiwan Semiconductor Manufacturing Company Limited, Panasonic Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Eaton Corporation plc, Infineon Technologies AG, Legrand SA, Signify NV, Hubbell Incorporated, Acuity Brands Inc., OSRAM GmbH, WAGO Corporation, Leviton Manufacturing Company Inc., Zumtobel Group AG, Wolfspeed Inc., Ideal Industries Inc., GE Current, Lutron Electronics Co. Inc., Inventronics Inc., RAB Lighting Inc., Toshiba Lighting & Technology Corporation, Helvar Ltd., Synapse Wireless, Digital Lumens Inc.
The lighting control system market report table of contents includes:
1. Executive Summary
2. Lighting Control System Market Characteristics
3. Lighting Control System Market Trends And Strategies
4. Lighting Control System Market – Macro Economic Scenario
5. Global Lighting Control System Market Size and Growth
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32. Global Lighting Control System Market Competitive Benchmarking
33. Global Lighting Control System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lighting Control System Market
35. Lighting Control System Market Future Outlook and Potential Analysis
36. Appendix
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