Market Overview:
Market Research Future (MRFR) shed light the dynamics of the global lighting control system market 2020 in the latest report. As per MRFR assessment, the expansion of the lighting control system market can rise at 18% CAGR by 2023. The lighting control system market is likely to touch a substantial valuation of USD 39 billion by 2023 due to different influential factors.
Competitive Analysis of Lighting Control System Market are:
Lutron Electronics Co. Inc. (US), Leviton Manufacturing Company, Inc. (US), Legrand S.A. (France), Philips Lighting N.V. (Netherlands), Eaton Corporation (Ireland), OSRAM Licht AG (Germany, Acuity Brands Inc. (US), Cree, Inc. (US), and General Electric Company (GE) (US) are some prominent names in the light control system market that are listed by MRFR.
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Drivers and Restraints:
The surge in the valuation of the lighting control systems can be attributed to the rising need for energy-efficient solution and technical driven products across the review period. The rise in the adoption of solutions driven by Internet of Things can prompt the expansion of the lighting control system market in the years to come. Infrastructural development and modernization are other factors that are expected to bolster the expansion of the lighting control market in the years to come. The growing customer awareness and hike in energy cost are other prominent factors that are creating the need for lighting control system, thus can fuel the expansion of the lighting control market across the forecast period. Instability and ongoing maintenance of wireless communication solutions can hamper light control system market.
Segmental Analysis:
The segment study of the lighting control system market is done by component, technology, services, and applications.
The component based segments of the lighting control system market are hardware, services, and software.
The hardware segments are sensors, switches, dimmers, and LED drivers among other. The software segments are web based services professional services, cloud based, managed services, and maintenance services among others. The LED segment can drive the market in the years to come. The rise in the demand for ballast components can garner high revenue for the market. The rise in the demand for energy-saving lighting systems is observed as key driving factor for the expansion of the market.
The technology based segments of the lighting control system market are bluetooth, Wi-Fi, POE, plc, and zigbee among others.
The application based segment of the lighting control system market are commercial, residential, roadways, industrial, highways, and railways among others.
Regional Analysis:
Trends of the lighting control system market is studied across North America, APAC, EU, and the rest of the world.
In Asia Pacific, the lighting control system market is likely to acquire the highest share of the global market. The increase in building activities across India and other developing regions of APAC can promote the expansion of the lighting control market in the years to come. Infrastructural modernization and penetration of digitization are other factors that are expected to impel the regional market.
In North America, the rise of the lighting control system market can be credited to the surge in the demand for smart homes. The increased need for energy-efficient goods across the region can impel the rise of the lighting control system market in the region. Other causes that can spur the expansion of the lighting control system market are increase in populace and escalation in per capita income can bolster the market in the years ahead. In Europe, the increase in the demand for home electronic solutions can impel the rise of the regional market.
List of Table:
TABLE 1 LIGHTING CONTROL SYSTEM MARKET, BY COMPONENT
TABLE 2 LIGHTING CONTROL SYSTEM MARKET, BY TECHNOLOGY
TABLE 3 LIGHTING CONTROL SYSTEM MARKET, BY APPLICATION
TABLE 4 LIGHTING CONTROL SYSTEM MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA LIGHTING CONTROL SYSTEM MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA LIGHTING CONTROL SYSTEM MARKET, BY TECHNOLOGY
TABLE 7 NORTH AMERICA LIGHTING CONTROL SYSTEM MARKET, BY APPLICATION
TABLE 8 U.S LIGHTING CONTROL SYSTEM MARKET, BY COMPONENT
TABLE 9 U.S. LIGHTING CONTROL SYSTEM MARKET, BY TECHNOLOGY
TABLE 10 U.S. LIGHTING CONTROL SYSTEM MARKET, BY APPLICATION
Continued……….
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