Intelligent Lighting Control Market

Jun 13, 2023

Segmented By Light Source (Light Emitting Diode, Fluorescent Lamp, Discharge Lamps, High Intensity), By Application (Industrial, Residential, Commercial. Global Intelligent Lighting Control Market was valued at USD 12.16 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 23.64% through 2031.

New York, July 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Intelligent Lighting Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2031" - https://www.reportlinker.com/p06472457/?utm_source=GNW Segmented By Light Source (Light Emitting Diode, Fluorescent Lamp, Discharge Lamps, High Intensity), By Application (Industrial, Residential, Commercial. Infrastructure), By Type (LED Drivers, Switch Actuators, Sensors, Microcontrollers, Transmitters & Receivers, Dimmers, Others), By Connectivity (Wired, Wireless), By RegionGlobal Intelligent Lighting Control Market was valued at USD 12.16 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 23.64% through 2031.Intelligent lighting control is a type of smart lighting system that can regulate the amount, type, and properties of light in a given space.In addition to promoting energy efficiency, these smart devices assist in reducing electricity waste.The intelligent module is the lighting control system’s execution unit and control terminal, forming an organic whole with the background intelligent central control system. Growing Smart City Programs to Enhance the Market.Developing economies are focusing their attention on digital awareness.Most countries are now undertaking large-scale smart city plans as part of their digital strategy.A smart lighting-linked device system is one of the most critical parts of smart city projects, as it utilizes a connected lighting system controlled by smart devices.Indian Prime Minister Narendra Modi, for instance, announced the 100 Smart Cities Program in India in June 2015.The mission was carried out by the Union Ministry of Urban Development in cooperation with state governments, and it was scheduled to take place between 2019 and 2023. Hence, the market is expected to grow with a high CAGR in the forecast period as people are readily adopting smart devices.High Demand for Energy-Efficient Lighting SolutionsConsidering there is a significant need for energy-efficient lighting solutions, the Intelligent Lighting Control Market is predicted to rise at a promising rate in 2023-2031.The importance of energy management in terms of reducing carbon footprints is becoming more and more apparent to consumers.Governments are also putting more effort into coming up with new ways to reduce power consumption. For instance, the United States government officially confirmed the commencement of the Climate Smart Buildings Initiative in August 2022, with the goal of modernizing the country’s public infrastructure and lowering GHG emissions by 2.8 million metric tonnes per year, by 2030.Increasing R&D Spending for Infrastructure DevelopmentR&D expenditures for infrastructure development have significantly increased as a result of the adoption of smart technology in public lighting systems. For instance, the U.K. Government for Business, Energy & Industrial Strategy (BEIS) allocated money to U.K. Research & Innovation (UKRI) in March 2022, totaling more than USD 30.3 billion to support multiple R&D initiatives. Additionally, end-users need for cost-effective and energy-saving solutions is expanding, due to which the demand for Organic Light Emitting Diodes (OLED) lighting is developing significantly. Thus, the market is likely to expand with a high CAGR in the upcoming years.Rising Adoption of LED Lighting & Bulbs Across the WorldOne of the key elements affecting the growth of the global market for intelligent lighting controls is the rising adoption of LED bulbs and lights globally. According to an Electric Lamp and Component Manufacturers (ELCOMA) report, the lighting industry was expected to introduce more energy-efficient products and work more closely with the government to implement various schemes and awareness programs in 2020, which helped in reducing lighting energy consumption from 18% of total power consumption to 13% .. Thus, the market is predicted to develop with a high CAGR in 2023–2031 as a result of India’s positive transition from conventional lighting to LED and energy-efficient smart lights.Adoption of ZigBee and Bluetooth in Smart Lighting Control SystemsGreater connectivity and technology improvements have raised the popularity of smart lighting control systems globally.ZigBee and Bluetooth, two wireless technologies, have made it easier to implement smart lighting control systems in a variety of places.It is computed particularly for wireless personal area networks (WPANs) that adhere to the IEEE (Institute of Electric and Electronics Engineers) standard for control and sensor networks. The operating frequencies for these Zigbee WPANs are 868 MHz, 902-928 MHz, and 2.4 GHz. The ideal data rate is 250 kbps, which is used for periodic and intermediate two-way data transfer between sensors and controllers. For instance, according to a declaration made in April 2018 by the Council of Australian Government Energy Ministers, halogen lighting is expected to be replaced by LED bulbs in order to increase energy efficiency. According to estimates, this choice saves customers and businesses over USD 1 billion in electricity costs and light bulb replacement costs. Furthermore, the Smart Dubai Plan 2021’s objective of making Dubai a paperless government has spurred the country to adopt smart services. It is an important aspect of the growth of the smart city. Therefore, the emergence of smart cities and smart infrastructure globally assists the penetration of intelligent lighting controls.Challenges: High Installation Cost of Intelligent Lighting Controls SystemThe high startup and implementation costs of lighting control systems are anticipated to restrict market growth.Also, the system’s expensive sensors, transmitters, and receivers will directly affect the initial selling price of the entire system.The usual payback period for implementing intelligent lighting controls may be between two and three years, depending on the kind of system.However, compared to the price of traditional retrofit switches, the initial cost of a single unit of the smart lighting and control system is significantly higher.This factor is constraining the market expansion in the upcoming years.Impact of COVID: Booming Demand for Residential & Medical SectorDue to people remaining at home and companies adopting a work-from-home culture, the need for intelligent lighting controls in the residential sector was not significantly impacted.Similarly, as demand for medical services increased during the pandemic, the medical sectors saw growth.For instance, a 15,000-bed Techo Santepheap Phnom Penh COVID-19 Treatment Centre is being built on 7 acres of land in the Prek Phnov district of Phnom Penh, Cambodia.Recent Developments:• The Indian government has started a number of programs, such as the LED Street Lighting National Program (SLNP), which was introduced by the country’s prime minister on January 5, 2015, and the Unnat Jyoti by Affordable LEDs for All (UJALA), which implemented in 2020.• On 9th February 2023, Signify, a company that deals in lighting, decided to provide LED street lighting, smart poles, and lighting systems to the industrial park located in Hubei Province, China.• On 5th January 2021, the state-owned Energy Efficiency Services Ltd. in India implemented the national street lighting program for the Asia Pacific region and has decided to invest USD 960 million by 2024, covering the entire rural region of India. Furthermore, Energy Efficiency Services Ltd. is anticipated to retrofit or install more than 30 million LED streetlights.• The 100 Smart Cities Initiative was revealed in India by the Prime Minister. The mission was carried out by the Union Ministry of Urban Development in partnership with state governments and is projected to be accomplished between 2019 and 2023.• In an industrial area adjacent to Bangkok, Thailand plans to build a smart city costing USD 37 billion. A panel headed by the prime minister gave the go-ahead for construction to begin on the city’s master plan in the Huai Yai subdistrict of Chonburi province, some 160 kilometers southeast of Bangkok. 2,340 hectares are occupied by the city. The residential area of the proposed metropolis is anticipated to build homes for about 350,000 people by 2032.• In order to supply LED lights to BMW over the upcoming years, in February 2022, Melaka-based Dominant Opto Technologies decided to invest over USD 29 million in Malaysia. This is an example of the many automotive companies that have started installing LED lighting in automobiles. On 19th August 2021, by spending around USD 150 million on Light Emitted Diode (LED) street lighting, the London government encouraged the intelligent lighting control company in the U.K. to grow in the upcoming years.Market SegmentationThe Global Intelligent Lighting Control market is divided into light source, application, type, and connectivity.Based on the light source, the market is divided into light emitting diode, fluorescent lamps, discharge lamps, and high intensity.Based on application, the market is divided into industrial, residential, commercial, and infrastructure.Based on type, the market is divided into LED drivers, switch actuators, sensors, microcontrollers, transmitters & receivers, dimmers, and others.Based on connectivity, the market is divided into wired and wireless.Based on connectivity, the market is segmented into wired and wireless.The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific, Europe, North America, Middle East & Africa, and South America.Company ProfilesAcuity Brands Inc, Legrand SA, Signify N.V, Siemens AG, Honeywell International Inc, Cisco Systems Inc, Eaton Corporation plc, Panasonic Corporation, OSRAM Licht AG, Leviton Manufacturing Company Inc, and Savant Systems Inc. are among the major players that are driving the growth of the Global Intelligent Lighting Control market.Report Scope:In this report, the Global Intelligent Lighting Control Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:• Global Intelligent Lighting Control Market, By Light Source:o Light Emitting Diodeo Fluorescent Lampo Discharge Lampso High Intensity• Global Intelligent Lighting Control Market, By Application:o Industrialo Residentialo Commercialo Infrastructure• Global Intelligent Lighting Control Market, By Type:o LED Driverso Switch Actuatorso Sensorso Microcontrollerso Transmitters & Receiverso Dimmerso Others• Global Intelligent Lighting Control Market, By Connectivity:o Wiredo Wireless• Global Intelligent Lighting Control Market, By Region:o Asia-Pacifico Europeo North Americao Middle East & Africao South AmericaCompetitive LandscapeCompany Profiles: Detailed analysis of the major companies present in the Global Intelligent Lighting Control market.Available Customizations:With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).Read the full report: https://www.reportlinker.com/p06472457/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________