With the technological advancements, the lighting industry has changed significantly in terms of saving energy and money. In lighting industry, the intelligent lighting controls are gaining immense popularity. Intelligent lighting controls provide energy efficient light bulbs such as Light Emitting Diode (LED) light, High Intensity Discharge(HID) Lamp, and Compact Fluorescent Light (CFL), which have a better lifespan as compared to the existing light bulbs. According to the latest market intelligence report by BIS Research titled, ‘Global Intelligent Lighting Controls Market-Analysis and Forecast (2018-2024),’ the market is expected to register a CAGR of 20.9% during the forecast period. This significant growth rate is owing to the integration of physical security industry with intelligent lighting, changing paradigm of lighting control industry to electronic industry, and adding voice control features to the upcoming products.
Owing to the advancement in the intelligent lighting controls method, the adoption rate of these lights has been increased considerably, on a global scale. Sensors are the most important part in the intelligent lighting system and are used to detect and operate according to the pre-defined conditions of a system. The key sensors used in intelligent lighting industry are ambient light sensors, proximity sensors, photo sensors, and daylight sensors. Many prominent players in the market are installing intelligent lighting controls system to integrate both the physical and digital world. The intelligent lighting controls continue to propel the knighting industry towards the growth with increasing revenue, globally.
In terms of revenue, the sensors accounted for the largest share in the intelligent lighting controls market in the year 2017. Moreover, dimmers and switches segment is expected to grow at the highest growth rate during the forecast period. The growth of the dimmers and switches is owing to its ability to resolve the rising issues of the energy crisis. Among the connection types, wired connection held the largest share in the global market for intelligence lighting controls in the year 2017. Wired technology based intelligent lighting system can provide better control and flexibility when used with additional electronics, which in turn increases the overall cost of the installation of the system. However, with the development in Radio Frequency (RF) technology, there is an increase in the installation of wireless systems.
Among the applications, commercial segment held the highest market share in the year 2017, in terms of volume and value. Smart homes are escalating the growth of the intelligent lighting controls market in residential applications as smart homes brings the consumers numerous advantages regarding energy and cost savings. Smart homes are intelligent enough to identify the family members and guests that is done by the biometrics technology. Increasing smart homes market along with the customer’s benefits and continuously decreasing average selling price of LED bulbs are some of the factors responsible for the growth of the market for intelligent lighting control.
BIS Research has conducted extensive research on the global intelligent lighting controls market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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