Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) -- The "Lighting Control System Market by Installation Type (New and Retrofit), Offering (Hardware, Software, and Services), End-use Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The lighting control system market was valued at USD 16.8 billion in 2018 and is projected to reach USD 39 billion by 2024; it is expected to grow at a CAGR of 14.8% from 2019 to 2024.
Major players in the lighting control system market are Signify Holding (Signify, Netherlands), Legrand S.A. (Legrand, France), Eaton Corporation (Eaton, Ireland), General Electric Company (GE, US), and OSRAM Licht AG (OSRAM, Germany). The other players operating in the lighting control system market include Acuity Brands, Inc. (Acuity, US), Leviton Manufacturing Company, Inc. (Leviton, US), Lutron Electronics Co. Inc (Lutron, US), Ideal Industries Inc. (Ideal Industries, US), Schneider Electric (Schneider, France), and Honeywell International Inc. (Honeywell, US).
Government initiatives and policies for energy savings to drive the growth of the lighting control system market
Increasing demand for intelligent solutions for street lighting systems, upcoming smart city projects in developing economies, growing adoption and decreasing cost of LEDs, increasing awareness of consumers and governments about the importance of energy-saving are the major factors contributing to the growth of the market for lighting control systems. Major restraining factors such as the cost of deployment, and the lack of standardized regulatory frameworks in the energy sector, along with security and privacy issues in connected lighting control systems, are restraining the growth of the lighting control system market.
Services market for lighting control systems is expected to grow at highest CAGR during the forecast period
The lighting service model is defined broadly as the third-party management of lighting systems, which may include additional technical, maintenance, financial, or other services. Technological advancements in the lighting industry have provided a gateway to the Internet of Things (IoT), while lighting services have been meeting the rising demands for new networks, which offers lighting manufacturers a new opportunity in competing with traditional networking players, and at the same time, opening their own service segments. The growth of the service segment is mainly propelled by the use of lighting services for cost savings, along with the purpose of energy conservation and an ecologically safe option.
Indoor application to hold major share of lighting control system during the forecast period.
Indoor applications are expected to account for the largest share of the lighting control system market during the forecast period. The lighting control system market for the indoor lighting application has been segmented into residential, commercial, industrial, and others. The demand for lighting systems is more for indoor lighting applications due to the growing construction industry across the world.
Lighting control system market in APAC expected to grow at highest CAGR during the forecast period
APAC is expected to be the fastest-growing region for the lighting control system market during the forecast period owing to the rapid infrastructure building activities being undertaken in APAC, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Emerging economies in APAC, including China and India, are also impacting the overall lighting control system market significantly.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Growth of Lighting Control System Market
4.2 Global Lighting Control System Market, By Offering
4.3 Global Lighting Control System Market, By Installation Type
4.4 Global Lighting Control System Market, By End-Use Application
4.5 Global Lighting Control System Market, By Indoor Application
4.6 Global Lighting Control System Market, By Outdoor Application
4.7 Global Lighting Control System Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Ongoing & Upcoming Smart City Projects in Developing Economies
5.2.1.2 Increasing use of LED Lights and Luminaries in Outdoor Lighting Applications
5.2.1.3 Government Initiatives and Policies for Energy Savings
5.2.1.4 Growing Acceptance of Standard Protocols for Lighting Control Systems
5.2.2 Restraints
5.2.2.1 Security and Reliability Issues With Smart Homes
5.2.2.2 High Initial and Deployment Costs
5.2.3 Opportunities
5.2.3.1 Rapid Transition From Traditional Lighting Systems to Connected Lighting Solutions
5.2.3.2 Growing Inclination Toward Energy-Efficient Lighting Solutions
5.2.4 Challenges
5.2.4.1 Interoperability Issues Between Different Network Components
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Development Engineers
6.2.2 Raw Material/Input Suppliers
6.2.3 Original Equipment Manufacturers
6.2.4 System Integrators and Service Providers
6.2.5 Distributors and Sales Representatives
6.2.6 End-Use Applications
6.3 Industry Trends
7 Lighting Control System Market, By Installation Type
7.1 Introduction
7.2 New Installations
7.2.1 New Installations Expected to Dominate Lighting Control System Market During the Forecast Period
7.3 Retrofit Installations
7.3.1 Retrofit Installations to Grow at Higher CAGR in Lighting Control System Market During Forecast Period
8 Lighting Control System Market, By Offering
8.1 Introduction
8.2 Hardware
8.2.1 Led Drivers& Ballasts Expected to Account for Largest Share of Lighting Control System Market for Hardware During the Forecast Period
8.2.1.1 Led Drivers & Ballasts
8.2.1.2 Sensors
8.2.1.3 Switches
8.2.1.3.1 Manual On/Off Switches
8.2.1.3.2 Electronic Switches
8.2.1.4 Dimmers
8.2.1.4.1 Wired Dimmers
8.2.1.4.2 Wireless Dimmers
8.2.1.5 Relay Units
8.2.1.6 Gateways
8.3 Software
8.3.1 Cloud-Based Software Market to Exhibit Highest Growth During Forecast Period
8.3.1.1 Local/Web-Based Software
8.3.1.2 Cloud-Based Software
8.4 Services
8.4.1 Installation & Maintenance Services to Account for Largest Share of Lighting Control System Market for Services During the Forecast Period
8.4.1.1 Professional Services
8.4.1.2 Installation and Maintenance Services
9 Lighting Control System Market, By End-Use Application
9.1 Introduction
9.2 Indoor
9.2.1 Commercial Indoor Application Expected to Grow at High CAGR in Lighting Control System Market During Forecast Period
9.2.1.1 Residential
9.2.1.2 Commercial
9.2.1.3 Industrial
9.2.1.4 Others
9.3 Outdoor
9.3.1 Highways & Roadways to Account for Major Share of Lighting Control System Market During Forecast Period
9.3.1.1 Highways & Roadways Lighting
9.3.1.2 Architectural Lighting
9.3.1.3 Lighting for Public Places
10 Lighting Control System Market, By Communication Protocol
10.1 Introduction
10.2 Wired
10.2.1 POE Protocol to Exhibit Highest Growth in Lighting Control System Market for Wired Communication Protocol During Forecast Period
10.2.1.1 Digital Addressable Lighting Interface (DALI)
10.2.1.2 Power Line Communication (PLC)
10.2.1.3 Power Over Ethernet (POE)
10.2.1.4 Hybrid (Wired)
10.2.1.5 Others
10.3 Wireless
10.3.1 Zigbee Expected to Dominate Lighting Control System Market for Wireless Communication Protocol During Forecast Period
10.3.1.1 Zigbee
10.3.1.2 Bluetooth Low Energy (BLE)
10.3.1.3 Enocean
10.3.1.4 Wi-Fi
10.3.1.5 6lowpan
10.3.1.6 Hybrid (Wireless)
10.3.1.7 Others
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 APAC
11.5 Rest of the World
12 Competitive Landscape
12.1 Overview
12.2 Lighting Control System Market: Market Ranking Analysis, 2018
12.3 Competitive Situations and Trends
12.3.1 Product Launches & Developments
12.3.2 Agreements, Partnerships, Collaborations, Contracts, and Joint Ventures
12.3.3 Mergers & Acquisitions
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.2 Dynamic Differentiators
12.4.3 Innovators
12.4.4 Emerging Companies
13 Company Profiles
Business Overview, Products Offered, Recent Developments, SWOT Analysis
13.1 Introduction
13.2 Key Players
13.2.1 Signify Holding (Philips Lighting)
13.2.2 Legrand S.A.
13.2.3 Eaton Corporation PLC
13.2.4 General Electric Company (Current-Powered By GE)
13.2.5 OSRAM Licht AG
13.2.6 Acuity Brands, Inc.
13.2.7 Lutron Electronics Co., Inc.
13.2.8 Schneider Electric SE
13.2.9 Honeywell International Inc.
13.2.10 Ideal Industries, Inc.
13.2.11 Hubbell Incorporated
13.3 Other Important Players
13.3.1 Leviton Manufacturing Company, Inc.
13.3.2 Dialight PLC
13.3.3 Helvar
13.3.4 Zumtobel Group
13.4 Key Innovators
13.4.1 Lightwaverf PLC
13.4.2 Rab Lighting Inc.
13.4.3 Synapse Wireless, Inc. (Mcwane, Inc.)
13.4.4 Panasonic
13.4.5 Adesto Technologies (Echelon Corporation)
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