The global intelligent lighting controls market is estimated to reach $36 billion by 2023, growing at a CAGR of 10.2% from 2017 to 2023, according to the market intelligence report Global Intelligent Lighting Controls Market by BIS Research.
Emerging technologies have accelerated the usage of intelligent lighting controls in various end use applications. The market is further being driven by the increasing smart homes market along with customization benefits and the continuously decreasing average selling price (ASP) of LED bulbs.
Key Segments to Watch
This report divides the global intelligent lighting controls market by component type, connection type, light source, and application. Among the component type, viz. sensors, ballasts and LED drivers, microprocessors and microcontrollers, switches and dimmers, and transmitters and receivers, sensors segment held a major share of 47% of the market in 2016, in terms of revenue, whereas the microprocessors and microcontrollers segment is expected to increase with the highest CAGR in the coming years.
The prevalent sensors in the industry are ambient light sensors, proximity sensors, occupancy sensors, photo sensors, and daylight sensors; however, some companies are moving towards gesture detecting sensors for gesture controls.
Among connection types, viz. wired and non-wired, the wired connection type held a higher market share of 53.1% in 2016 in terms of value. Recent advancements in RF technologies have boosted the number of wireless installations worldwide, although wired technology has been more prevalent in the market. The prevalence of wired technology is due to their superior control functionality and the flexibility available with the use of additional electronics, although this increases the cost of installation.
Regional Market Growth Trends
This study also calculates the market size spreading across different geographical regions, namely North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America generated the maximum revenue in the intelligent lighting controls market in 2016, followed by Europe. The U.S. held 91.3% of the market share in North America in 2016, leading the market.
Asia-Pacific is expected to grow with the highest CAGR during 2017 to 2023. This growth stimulates from the large-scale demand for new construction, strong economic growth driven mainly by China, and increasing affordability of LED lighting in the region.
Top Companies in the Market
Some of the key players in the intelligent lighting controls market include:
- General Electric
- Lutron Electronics Co. Inc.
- Leviton Manufacturing Co. Inc.
- Honeywell International Inc.
- Acuity Brands Inc.
- Cree Inc.
- Enlighted Inc.
- Daintree Networks
- Koninklijke Philips N.V.
- OSRAM Licht AG
- Hubbell Incorporated
- LSI Industries Inc.
- Control4 Corporation
- Schneider Electric.
The most prevalent business activities have been observed to be product launches, followed by partnerships, joint ventures, and collaborations, which are helping the key market players to make a mark on the industry.
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About the Publisher: BIS Research is a global market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV, and other emerging technologies.
Its in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision making for the senior management.