Global Intelligent Lighting Controls Market To Reach $36 Billion By 2023, Finds BIS Research

14 May 2017
Global Intelligent Lighting Controls Market

The shifting paradigm of lighting industry to electronics industry has provided ample opportunities for the growth of the intelligent lighting controls market. With the integration of smart technologies in the lighting industry, the companies of several industry verticals, such as control systems, dimmers, and software based solutions and sensors are taking advantage of the budding opportunities. Many established players in the industry are engaging in activities such as product launches and mergers and acquisitions to perpetuate their strong hold on the market.

One of the top companies of the intelligent lighting market, Acuity Brands Inc., announced in a press release that it will demonstrate its latest advancements in Internet of Things (IoT) technology for retailers, including its Indoor Positioning System (IPS) solution with its new retail asset tracking technology. “The Acuity Brands IPS solution utilizes wirelessly controlled LED luminaires to deliver highly accurate, real-time positioning services for customers and store employees who opt-in through a retailer's mobile application. The solution allows retailers to save considerable energy and maintenance costs when replacing conventional lighting fixtures, while deriving valuable business intelligence.1

In the present scenario, where climate change is adversely affecting every aspect of life and energy conservation is one of the priorities for sustainable development, intelligent lighting controls have revolutionized the lighting industry with limited energy consumption and optimum result. LED is a recent development in the field of artificial lighting and also the most efficient and eco-friendly option in the current scenario. The LED lighting industry is the fastest growing lighting industry, having enormous scope for further development.

Another established player of the intelligent lighting market, Eaton, announced the launch of its new Neo-Ray family LED luminaires. This product utilizes the unique characteristics of LED point sources, with curved emission surfaces. “To complement the sleek new products, Eaton also has announced a new suspension scheme called LuxWire that uses almost-invisible aircraft cable for pendant-style mounting and to deliver low-voltage DC power to the luminaires.2

With vigorous activities from established players in the market, the growth of the intelligent lighting market is expected to be exponential. Acknowledging the high potential growth of the market on a global scale, BIS Research has compiled a report, titled ‘Global Intelligent Lighting Controls Market- Analysis & Forecast (2017 to 2023)’, which is a comprehensive analysis of intelligent lighting controls market with demarcations on the basis of component type, connection type, light sources, applications and geographical regions.

According to the analyst at BIS Research, “The intelligent lighting controls market is expected to reach to $36 billion by 2023 at a CAGR of 10.2%. Intelligent lighting controls play an important role in the designing of intelligent lighting system… Due to inherently controllable character of solid state lights, usage of controls is increasing with downfall in the price of LED lights. In terms of healthcare applications, controls are becoming an essential technological component for sustainable lighting. Additionally, due to the enhancement in the design of controls, they are minimizing energy consumption and fulfilling the user requirements.”

This report includes a thorough analysis of different component types as well as different connection types used in the intelligent lighting controls. Intelligent lighting controls market has further been segmented in terms of application which helps in understanding the behavior of different verticals in using intelligent lighting controls. It further explains the driving forces, challenges and growth opportunities of the intelligent lighting controls market. Major players have been identified on the basis of revenue generation pertaining to intelligent lighting controls market, geographical presence and developments related to intelligent lighting controls. A detailed company profiling has been done in order to understand the player’s strategic behavior. The intelligent lighting controls market is further explained and analyzed on the basis of geography. The geographical analysis has been categorized into four regions namely: North America, Europe, Asia-Pacific and Middle-East & Africa and Latin America. 

References:
1 Globe Newswire
2 LEDs Magazine

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