The Intelligent Lighting Control Market is expected to grow at a CAGR of ~15% between 2021-2027.
A comprehensive overview of the Intelligent Lighting Control Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Intelligent Lighting Control Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Intelligent Lighting Control Market at the regional levels. The Intelligent Lighting Control Market is expected to grow at a CAGR of ~15% between 2021-2027.
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Market Overview
A lighting control system is an intelligent network-based lighting control solution that includes communication between various lighting control system inputs and outputs via one or more central computing devices. Lighting control systems are widely used in commercial, industrial, and residential settings for both indoor and outdoor lighting. Globally, the overall demand for intelligent lighting control solutions is on a rise, with countries around the global are modernizing their infrastructure and investing heavily in smart city development. Growing urbanization, need for efficient management and utilization of resources, demand for fast and efficient transport and commuting, public safety concerns, and increasing demand for a healthy environment with efficient energy consumption are major factors driving the growth of the Smart Cities across the globe. Thus, creating significant opportunities for the global intelligent lighting controls market growth.
COVID-19 Impact
With the adoption of the Smart City model in most urban areas, smart digital solutions have emerged in the past few years. Among them intelligent lighting controls is one such solution. However, Owing to the outbreak of COVID-19, various countries follow strict lockdowns, shutdowns, and mobility restrictions to avoid the spread of the virus. The pandemic has reduced manpower efforts, with Silicon Valley being almost completely shut down during the crisis, affecting meeting the needs of smart cities for strategic management and planning by the government and other stakeholders.
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Intelligent Lighting Control Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Connectivity Type, the market is primarily bifurcated into:
· Wired
· Wireless
Based on connectivity type, the Intelligent Lighting Controls Market is bifurcated into wired and wireless. During the forecast period, wireless category to grow at a fastest CAGR owing to increase in implementation of connected street lights in urban areas, growing government initiatives and increased development of smart cities. In addition, efficient lighting techniques and increased awareness of energy conservation is attracting attention from players operating in the wireless connected lighting solutions.
By Type, the market is primarily studied into:
· Sensors
· Ballast & LED Drivers
· Microcontrollers
· Dimmers & Switch Actuators
· Transmitters & Receivers
· Others
On the basis of type, the market is categorized into Sensors, Ballast & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers, and Others. Among these, ballast & LED Drives are expected to witness strong growth rate during the forecast period. This is mainly due to the growing steps and initiative regarding efficient utilization of energy with reduced wastage of electricity consumption with Intelligent lighting control solutions.
By Application, the market is primarily studied into:
· Smart Cities
· Automotive
· Manufacturing
· Media & Entertainment
· Others
Based on application, the Intelligent Lighting Controls Market has been bifurcated into Smart Cities, Automotive, Manufacturing, Media & Entertainment, and Others. Among these, Smart cities category to hold significant share during the forecast period. This is mainly due to rising consumer awareness of energy management and a growing government emphasis on efficient electricity consumption. Furthermore, the increase in the number of smart city projects across developing economies will have a positive impact on the market's progression.
Intelligent Lighting Control Market Region Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of World
For a better understanding of the market adoption of Intelligent Lighting Controls Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. During the forecast period, APAC region is expected to witness significant growth owing to owing to the rising need for resource management due to overpopulation and dynamic shift in urban sprawl, coupled with the economic growth of megacities in the emerging economies of the region
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The major players targeting the market includes:
· Schneider Electric SE
· Acuity Brands Inc.
· Cisco Systems Inc.
· Eaton Corporation
· General Electric Company
· Honeywell International Inc.
· ams-OSRAM AG
· Panasonic Corporation
· Signify N.V.
· Siemens AG
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Intelligent Lighting Control Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and advancements in the Intelligent Lighting Control Market?
· Which factors are influencing the Intelligent Lighting Control Market over the forecast period?
· What are the challenges, threats, and risks in the Intelligent Lighting Control Market?
· Which factors are propelling and restraining the Intelligent Lighting Control Market?
· What are the demanding regions of the Intelligent Lighting Control globally?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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