Lighting Control System Market Size - Sales Revenue, Competitive Landscape and Forecast 2023

Market Overview

Market Research Future's published report offers an all round outlook on the worldwide lighting control system market. The market is projected to attain a worth of USD 39 bn throughout the period of estimation, reflecting a prominent CAGR of 18%. Lighting control systems are frameworks that facilitate users to control the intensity of lighting within a certain space, remotely. The systems incorporate several wireless connectivity techniques such as Wi-Fi and Bluetooth to extend users with the capability to supervise the lighting in their office or home space from a smartphone app or other platforms. The lighting control systems can also integrated for public lighting, like railways and roads. The capacity to remotely control lighting systems makes it more user-friendly as well as keeps the process more environment-friendly by curtailing the total amount of electrical power employed. The expanding focus on energy conservation is projected to be a primary driver for the development of the lighting control system market size, specifically in public sector applications. The increased volume of lighting integrated in public sector applications such as public transportation and road lighting makes lighting control systems a highly viable alternative, as the cumulative effect of lighting control systems is growing increasingly promising in these scenarios. In residential setups, lighting control systems are sometimes seen as an amenity and convenience as they also facilitate users to brighten and dim their lights as per their requirement. This is also considered as a prominent driver for the worldwide lighting control system market during the assessment period, as residential users are increasingly becoming affluent even in emerging markets and are looking for more progressive technologies to improve their living standards.

Market Segmentation

Lighting Control System Market Size is bifurcated on the basis of technology, component, region, and application. Based on component, the global lighting control system market has been divided into software, services, and hardware. Within this segment, hardware is subdivided into sensors, switches, LED drivers, dimmers, and others. The software segment of the lighting control system market comprises web-based and cloud-based. The services segment is further segmented into managed services, professional services, maintenance services, and others. According to technology, the worldwide lighting control system market is categorized into Wi-Fi, Bluetooth, ZigBee, POE, PLC, and others. On the basis of application, the worldwide lighting control system market is bifurcated into commercial, residential, industrial, roadways, highways, railways, and others.

Regional Analysis

The worldwide lighting control system market has been divided into Europe, North America, Asia Pacific, and rest of the world. APAC is estimated to hold dominance over the global lighting control system market share during the review period owing to the expanding infrastructural activities in rapidly evolving economies such as India and China. These infrastructure initiatives are often integrated with the advanced technology to save on upgrade expenses in the future, leading to the expanding application of lighting control systems in the market. The developing residential sector in the region could also offer substantial turnover for the lighting control system market, although the residential market in APAC still lags behind the residential market in emerged regions such as Europe and North America. North America is also expected to represent a key regional segment of the worldwide lighting control systems market throughout the period of estimation owing to the spurring demand for energy-efficient devices and the rising adoption of smart homes. The surging adoption of IoT in North America has further made it easier for users to install and use progressive lighting control systems.

Key Players

Key players in the worldwide lighting control system market consist of Legrand SA, Philips Lighting NV, Cree Inc., Acuity Brands Inc., Lutron Electronics Co. Inc., Leviton Manufacturing Company Inc., Eaton Corporation, General Electric, and OSRAM Licht AG.

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