The Luminaire and Lighting Control Market report by product (Luminaire, Control), by light (LED, Halogen, Fluorescent, HID, Others), by technology (Wired, Wireless, Wi-Fi, Bluetooth, ZigBee, Other), by component (Hardware (LED Drivers & Ballasts, Sensors, Switches, Dimmers, Relay Units, Gateways), Software (Web-based, Cloud-based, Hybrid), Services (Professional Services, Managed Services)), by Application (Indoor (Residential, Commercial, Industrial, Others (Public and Government Buildings), Outdoor (Architectural Lighting, Roadways Lighting, Lighting for Public Places), Others (Rail Lines and Harbors)), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ XX Bn by 2027, at a CAGR of XX %.
The commercial sub-segment of the indoor segment is anticipated to dominate the market because of the up gradation in existing products in commercial spaces to achieve energy efficiency goals and increase in productivity through lighting control. On average 30% of lighting energy is still wasted when spaces are not in use. Office and commercial segment accounts for more than 90% of the market for lighting system control components. Consciousness about home energy management system and awareness of ambient lighting control lighting system is increasing. Although current penetration of lighting control system is low this field may expand once prices decline and a wider range of products become available. The roadway lighting sub-segment constitutes 36.4% market share in 2027. With an increasing emphasis on green and clean lighting products, the installations of energy-efficient lighting products for street lighting applications is anticipated to rise in the near future.
Key players operating in the Global Luminaire and Lighting Control market are General Electric Co., Philips Lighting N.V., Cree, Inc., Legrand S.A., OSRAM Licht AG, Eaton Corporation, Lutron Electronics Co., Inc., Acuity Brands, Inc., Hubbell Incorporated, LSI Industries Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Luminaire and Lighting Control Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Luminaire and Lighting Control Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Luminaire and Lighting Control Market positioning of competitors.
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