Intelligent Lighting Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2031 Segmented By Light Source (Light Emitting Diode, Fluorescent Lamp, Discharge Lamps, High Intensity), By Application (Industrial, Residential, Commercial. Infrastructure), By Type (LED Drivers, Switch Actuators, Sensors, Microcontrollers, Transmitters & Receivers, Dimmers, Others), By Con
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIntelligent Lighting Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2031 Segmented By Light Source (Light Emitting Diode, Fluorescent Lamp, Discharge Lamps, High Intensity), By Application (Industrial, Residential, Commercial. Infrastructure), By Type (LED Drivers, Switch Actuators, Sensors, Microcontrollers, Transmitters & Receivers, Dimmers, Others), By Con
Global Intelligent Lighting Control Market was valued at USD 12,166.98 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 23.64% through 2031.
Growing Smart City Programs to Enhance the Market.
Developing economies are focusing their attention on digital awareness. Most countries are now undertaking large-scale smart city plans as part of their digital strategy. An smart lighting linked device system is one of the most critical parts of smart city projects, as it utilises a connected lighting system, controlled by smart devices. Indian Prime Minister, Narendra Modi, for instance, announced the 100 Smart Cities Program in India, in June 2015. The mission was carried out by the Union Ministry of Urban Development in cooperation with state governments, and it was scheduled to take place between 2019 and 2023. Hence, the market is expected to grow with the high CAGR in the forecast period as people are readily adopting smart devices.
High Demand for Energy-Efficient Lighting Solutions
Considering there is a significant need for energy-efficient lighting solutions, the Intelligent Lighting Control Market is predicted to rise at a promising rate in 2023-2031. The importance of energy management in terms of reducing carbon footprints is becoming more and more apparent to consumers. Governments are also putting more effort into coming up with new ways to reduce power consumption. For instance, the United States government officially confirmed the commencement of the Climate Smart Buildings Initiative in August 2022, with the goal of modernising the country's public infrastructure and lowering GHG emissions by 2.8 million metric tonnes per year, by 2030.
Download Free Sample ReportIncreasing R&D Spending for Infrastructure Development
R&D expenditures for infrastructure development have significantly increased as a result of the adoption of smart technology in public lighting systems. For instance, the UK Government for Business, Energy & Industrial Strategy (BEIS) allocated money to U.K. Research & Innovation (UKRI) in March 2022, totalling more than USD 30.3 billion to support multiple R&D initiatives. Additionally, end-users' need for cost-effective and energy-saving solutions is expanding, due to which the demand for Organic Light Emitting Diodes (OLED) lighting is developing significantly. Thus, the market is likely to expand with the high CAGR in the upcoming years.
Rising Adoption of LED Lighting & Bulbs Across the World
One of the key elements affecting the growth of the global market for intelligent lighting controls is the rising adoption of LED bulbs and lights globally.
Adoption of ZigBee and Bluetooth in Smart Lighting Control Systems
ChallengesHigh Installation Cost of Intelligent Lighting Controls System
The high startup and implementation costs of lighting control systems are anticipated to restrict market growth. Also, the system's expensive sensors, transmitters, and receivers will directly affect the initial selling price of the entire system. The usual payback period for implementing intelligent lighting controls may be between two and three years, depending on the kind of system. However, compared to the price of traditional retrofit switches, the initial cost of a single unit of the smart lighting and control system is significantly higher. This factor is constraining the market expansion in the upcoming years.
Impact of COVID
Due to people remaining at home and companies adopting a work-from-home culture, the need for intelligent lighting controls in the residential sector was not significantly impacted. Similarly, as demand for medical services increased during the pandemic, the medical sectors saw growth. For instance, a 15,000-bed Techo Santepheap Phnom Penh COVID-19 Treatment Centre is being built on 7 acres of land in the Prek Phnov district of Phnom Penh, Cambodia.
Recent Developments
- The Indian governmenthas started a number of programs, such as the LED Street Lighting NationalProgram (SLNP), which was introduced by the country's prime minister on January5, 2015, and the Unnat Jyoti by Affordable LEDs for All (UJALA), whichimplemented in 2020.
- On 9th February 2023,Signify, a company which deals in the lighting, has decided to provide LEDstreet lighting, smart poles and lighting systems to the industrial parklocated in Hubei Province China.
- On 5th January 2021, thestate-owned Energy Efficiency Services Ltd. in India is implementing thenational street lighting program for the Asia Pacific region and has decided toinvest USD 960 million by 2024, covering the entire rural region of India.Furthermore, Energy Efficiency Services Ltd. is anticipated to retrofit orinstall more than 30 million LED streetlights.
- The 100 Smart Cities Initiative was revealed inIndia by the Prime Minister. The mission was carried out by the Union Ministryof Urban Development in partnership with state governments and is projected tobe accomplished between 2019 and 2023.
- In an industrial areaadjacent to Bangkok, Thailand plans to build a smart city costing USD 37billion. A panel headed by the prime minister gave the go-ahead forconstruction to begin on the city's master plan in the Huai Yai subdistrict ofChonburi province, some 160 kilometres southeast of Bangkok. 2,340 hectares areoccupied by the city. The residential area of the proposed metropolis isanticipated to build homes for about 350,000 people by 2032.
- In order to supply LEDlights to BMW over the upcoming years, in February 2022, Melaka-basedDominant Opto Technologies decided to invest over USD 29 million inMalaysia. This is an example of the many automotive companies thathave started installing LED lighting in automobiles. On 19th August 2021, by spendingaround USD 150 million in Light Emitted Diode (LED) street lighting, the Londongovernment encouraged the intelligent lighting control company in the UK to growin the upcoming years.
Market Segmentation
The Global Intelligent Lighting Control market is divided into light source, application, type, and connectivity. Based on light source, the market is divided into light emitting diode, fluorescent lamp, discharge lamps, and high intensity. Based on application, the market is divided into industrial, residential, commercial and infrastructure. Based on type, the market is divided into LED drivers, switch actuators, sensors, microcontrollers, transmitters & receivers, dimmers, and others. Based on connectivity, the market is divided into wired and wireless. Based on connectivity, the market is segmented into wired and wireless. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among
Company Profiles
Acuity Brands Inc,
| Attribute | Details |
| Market Size Value in 2022 | 12,166.98 million |
| Revenue Forecast in 2031 | 80,486.46 million |
| Growth Rate | 23.64% |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2031 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023E-2031F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Light Source Application Type Connectivity |
| Regional Scope | Asia-Pacific, Europe, North America, Middle East & Africa, South America |
| Key Companies Profiled | Acuity Brands Inc, Legrand SA, Signify N.V, Siemens AG, Honeywell International Inc, Cisco Systems Inc, Eaton Corporation plc, Panasonic Corporation, OSRAM Licht AG, Leviton Manufacturing Company Inc, Savant Systems Inc |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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