DUBLIN--(BUSINESS WIRE)--The "Global Intelligent Lighting Control System Market 2019-2027" report has been added to ResearchAndMarkets.com's offering.
The global intelligent lighting control system market is expected to surge in terms of revenue and rise with a CAGR of 14.93% from the forecasting period of 2019 to 2027.
The increased need to save energy and the adoption of green technologies by many countries are the major drivers contributing to the growth of the lighting control systems market. An efficient lighting control system can reduce the energy consumption by 20-40% and in some cases by as much as 50%, depending on the type of system installed. The increased need for energy demand management in developed countries also augurs well for the market.
Lighting control systems are more cost-effective than conventional manual switching systems, as they have the ability to control individual lights or a group of lights from a single interface device. In addition, longer lamp life can be achieved by dimming or switching off lights when not in use. The adoption of lighting control systems for industrial applications is also increasing worldwide.
Restraints like high initial investments and longer break-even periods are obstructing the overall market growth.
Key opportunities such as the growth of smart homes and growth in the wireless lighting control system are expected to leverage the market growth over the projected years.
Compatibility issues, inadequate system integration and the scarcity of a skilled workforce are the key challenges that are proving to be a hindrance for the growth of the global intelligent lighting control system market.
The regions of North America, Europe, the Asia-Pacific, Latin America and the Middle East & Africa together constitute the global market for intelligent lighting control systems.
Asia-Pacific is the highest grossing region in the global intelligent lighting control system market. Japan, one of the most developed economies of the world, is a part of APAC. The concept of smart homes has gained prevalence in Japan, and the demand for clean and renewable energy sources has also increased. Factors like these are pushing the growth of the lighting controls market in the region.
Eaton Corporation PLC, Legrand, Schneider Electric, Leviton Manufacturing, Co., Inc., Osram GMBH, LSI Industries, Inc., Hubbell, Incorporated, Enlighted, Inc., Control4 Corporation, General Electric Company, Philips Lighting, Cree, Inc., Honeywell International, Inc., Acuity Brands, Inc. and Lutron Electronics Co., Inc. are the major companies operating in the global intelligent lighting control system market.
Hubbell Incorporated is a company engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications.
Key Topics Covered
1. Intelligent Lighting Control System Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Microprocessors and Microcontrollers Are Fastest Growing Component Type
2.2.2. Decrease in the Price of Sensors & Other Components
2.2.3. Increased Need For Demand Management
2.3. Porter's Five Force Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Competitive Rivalry
2.4. Key Impact Analysis
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Industry Components
2.8. Market Drivers
2.8.1. Support From Government
2.8.2. Growth of Electricity Costs
2.8.3. Increasing Awareness
2.8.4. Technological Advancements
2.9. Market Restraints
2.9.1. High Initial Investment
2.9.2. Longer Break-even Period
2.10. Market Opportunities
2.10.1. Growth of Smart Homes
2.10.2. Growth in Wireless Lighting Control System
2.11. Market Challenges
2.11.1. Lack of System Integration and Skilled Workforce
2.11.2. Problems With System Compatibility
3. Intelligent Lighting Control System Market Outlook - By Application
4. Intelligent Lighting Control System Market Outlook - By Connection Type
5. Intelligent Lighting Control System Market Outlook - By Component Type
5.2. Ballasts and Led Drivers
5.3. Microprocessors and Microcontrollers
5.4. Switches and Dimmers
5.5. Transmitters and Receivers
6. Intelligent Lighting Control System Market Outlook - By Light Source
6.1. Fluorescent Lamps
6.2. Light Emitting Diode Lamps
6.3. High-Intensity Discharge Lamps
7. Intelligent Lighting Control System Market - Regional Outlook
7.1. North America
7.1.1. Market By Application
7.1.2. Market By Connection Type
7.1.3. Market By Component Type
7.1.4. Market By Light Source
7.1.5. Country Analysis
188.8.131.52. United States
7.4. Latin America
7.5. Middle East & Africa
8. Competitive Landscape
8.1. Acuity Brands Inc.
8.2. Control4 Corporation
8.3. Cree Inc.
8.4. Eaton Corporation PLC
8.5. Enlighted Inc.
8.6. General Electric Company
8.7. Honeywell International Inc.
8.8. Hubbell Incorporated
8.10. Leviton Manufacturing Co. Inc.
8.11. LSI Industries Inc.
8.12. Lutron Electronics Co. Inc.
8.13. Osram GmbH
8.14. Philips Lighting
8.15. Schneider Electric
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