Forums » News and Announcements
Lighting Control System Market: Forecast to 2027
-
Market Overview
In its research report, Market Research Future (MRFR), asserts that the global market 2020 is slated to grow exponentially, securing a substantial market valuation of USD 39 billion by 2023, and a healthy 18% CAGR over the review period.
Drivers and Restraints
The factors that contribute to the growth of the market for Lighting Control Systems are the rising demand for energy-efficient products, technological advances, increased Internet of Things adoption, modernization and infrastructural development. In addition, increasing customer awareness and raising energy prices are expected to fuel the demand over the forecast period. Nevertheless, wireless communications may often be unstable, and ongoing maintenance is the factors that hamper the overall market growth. The high deployment of various smart lighting and energy management are the factors that are expected to fuel the growth of the demand for lighting control systems. Wireless technology growth for lighting control systems is expected to propel the wireless communication technologies market during the forecast period. Cyber security problems however hamper the overall market growth. The highest market share was in the Hardware Component segment. Growing global investments in works related to infrastructure upgrades, mainly in residential and commercial buildings, is a driving force in market dominance for new installations. The rising government funding towards smart cities is also expected to motivate key companies to invent new lighting control system modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain control in the market.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/3822
Segmental Analysis
segmentation by component comprises hardware- switches, sensors, dimmers, LED drivers, others, software- cloud based, web based services professional services, maintenance services, managed services and others. LED drivers and ballast components held a major share of the market for hardware components. Increasing demand for energy-saving lighting systems is a key driving factor for the market.
segmentation by technology comprises bluetooth, wi-fi, plc, POE, zigbee, others.
segmentation by application comprises residential, commercial, industrial, highways, roadways, railways, others.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/lighting-control-system-market-3822
Regional Analysis
The geographical analysis of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world. Asia-Pacific accounted for the largest market share mainly due to enhanced infrastructure building activities in countries like India and China, infrastructure modernization and increased demand for digitization. North America, however, is also expected to rise at a rapid pace due largely to high adoption of new technological technologies, increased demand for smart homes and increased demand for energy-efficient goods. Factors such as the ever-growing population, increasing per capita income and large regional expansions have indirectly contributed to the growth of the Asian countries' lighting control systems industry.
Competitive AnalysisThe major market players operating in the global market as acknowledged by MRFR are Legrand S.A. (France), Lutron Electronics Co. Inc. (US), Philips Lighting N.V. (Netherlands), Eaton Corporation (Ireland), Leviton Manufacturing Company, Inc. (US), Acuity Brands Inc. (US), OSRAM Licht AG (Germany) and Cree, Inc. (US), General Electric Company (GE) (US), and` among others.
The Lighting Control System Market continues to be highly competitive. To retain its market place and drive business growth, a competitive environment is created by rising diverse and diversified foreign organizations, domestic organizations and new entrants. Market leaders are constantly innovating and increasingly pursuing market growth through numerous strategic mergers and acquisitions, innovation, increased research and development investments, and cost-effective product portfolio. Significant players invest in internal R&D, and most of all in the acquisition of other businesses.TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH NETWORK COMPONENT
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
3.1 INTRODUCTION
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
3.5 MARKET RESTRAINTS
4 EXECUTIVE SUMMARY
About Market Research Future:
Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.
The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.
Our Forte
- Strong industry focus
- Robust methodology
- Tailor-made solutions
- Disruptive research
- Cutting-edge detailed reports
- Competitive pricing
- Domain expert researchers
- Timely delivery
- Ground-breaking approach
- Advanced and transparent research methodology
- Cover latest trends and innovations