Lighting Control Components Global Market Report 2023: Smart Lighting Tracks Offer Secure, Productive and Healthier Lighting


Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Lighting Control Components - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Lighting Control Components Market to Reach $11.8 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Lighting Control Components estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$11.8 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.

Corporate, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach US$4.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Retail segment is readjusted to a revised 10.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 12.8% CAGR

The Lighting Control Components market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2030 trailing a CAGR of 12.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.7% and 7.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2030.

Select Competitors (Total 232 Featured) -

  • Acuity Brands Lighting Inc.
  • Cree, Inc.
  • Current, Powered by GE
  • Eaton Corp.
  • Fagerhults Belysning AB
  • FW Thorpe Plc
  • Hubbell Control Solutions (HCS)
  • Legrand S.A.
  • Leviton Manufacturing Co., Inc.
  • LG Innotek
  • Lutron Electronics, Inc.
  • Osram GmbH
  • Panasonic Corp.
  • Schneider Electric SA
  • TCP International Holdings Ltd.
  • Theben AG
  • Zumtobel Group AG

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages288
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$5.8 Billion
Forecasted Market Value (USD) by 2030$11.8 Billion
Compound Annual Growth Rate9.3%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Lighting Controls: Delivering Energy Efficiency, Space Efficiency, and Personal Efficiency through Sensing, Prediction, and Control
  • Major Drivers and Trends in a Nutshell
  • Recent Market Activity
  • Advancements in Connected, Embedded, and Sustainable Lighting: Foundation for Market Growth
  • Connected Lighting
  • Embedded Lighting
  • Sustainable Lighting
  • The Global Lighting Controls Market Evolve with the Transforming Lighting Industry
  • Major Lighting Technology Trends Summarized
  • Myriad Benefits Drive Widespread Adoption across the World
  • Increased Energy Savings
  • Adequate Lighting for Increased Comfort
  • Automatic Functionality
  • Superior Quality Illumination & Extended Life
  • Increased Flexibility and Freedom
  • Push Button Devices and Pre-Programmed Settings
  • Important Add-on to Building Security Systems
  • Global Market Outlook
  • Developing Asian Countries Offer Significant Market Growth Opportunities
  • Lighting Control Components - Global Key Competitors Percentage Market Share in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

  • Acuity Brands, Inc. (USA)
  • Acuity Controls (USA)
  • Distech Controls (Canada)
  • Cree, Inc. (USA)
  • Current, Powered by GE (USA)
  • Daintree Networks, Inc. (USA)
  • Eaton Corp. (USA)
  • Cooper Industries Plc. (Ireland)
  • Fagerhults Belysning AB (Sweden)
  • FW Thorpe Plc (UK)
  • Hubbell Control Solutions (HCS) (USA)
  • Legrand S.A. (France)
  • WattStopper, Inc. (USA)
  • Leviton Manufacturing Co., Inc. (USA)
  • LG Innotek (South Korea)
  • Lutron Electronics, Inc. (USA)
  • Osram GmbH (Germany)
  • Panasonic Corporation (Japan)
  • Douglas Lighting Controls (Canada)
  • Universal Lighting Technologies, Inc. (USA)
  • Philips Lighting North America Corporation (USA)
  • Philips Color Kinetics (USA)
  • Strand Lighting (USA)
  • Schneider Electric SA (France)
  • TCP International Holdings Ltd. (Switzerland)
  • Theben AG (Germany)
  • Zumtobel Group AG (Austria)
  • Thorn Licht GmbH (Germany)
  • Tridonic GmbH & Co KG (Austria)

3. MARKET TRENDS & DRIVERS

  • Growing Prominence of Smart Lighting Drive Strong Demand for Intelligent Lighting Controls
  • Surging Demand for Smart Lighting Control Systems
  • Smart Lighting Tracks Offer Secure, Productive and Healthier Lighting
  • Myriad Benefits of Smart Lighting Controls
  • Opportunities and Challenges
  • Huge Potential Offered by the Internet of Things (IoT) Technology Benefit Market Expansion
  • The IoT's Architecture
  • IoT for Building Automation
  • Other Prominent Application Areas of IoT
  • Key Barriers to IoT Adoption
  • Rapid LED Lighting Penetration and Advanced Lighting Controls Drive Growth of "Lighting as a Service" (LaaS)
  • Key Factors Benefiting Growth of LaaS
  • Smart Homes and Smart Cities Create Enormous Demand for Smart and Wireless Lighting Control Solutions
  • Rising Popularity of Home Automation Boosts Market Demand
  • Smart and Connected Homes Drive Demand for "Wireless" Controls
  • Cloud-based Lighting Controls to Gain Traction
  • Robust Demand from the Residential Sector Lends Traction to Market Growth
  • Classification of Residential Lighting Control Systems
  • Advantages of Residential Lighting Controls
  • Major Trends in Residential Lighting Controls Segment
  • Private Buildings: An Underserved Market Segment
  • Evolution of Indoor Lighting Controls over the Years
  • Lighting Control Systems: Why and Where to Use in Residential Applications
  • Common Hindrances in the Selection of Residential Lighting Controls
  • Corporate Applications to Retain Market Dominance in Lighting Controls
  • Digital Lighting Control Technology Transform Commercial Buildings Sector
  • Street Lighting Management: A Potential Laden Application
  • Dimmable Smart Street Lights for Reducing Power Consumption and Emissions
  • Energy-Efficiency Spurs Market Penetration in the Retail Sector
  • Recovery in Construction Activity Worldwide Augurs Well for Lighting Controls Demand
  • Major Trends Driving Future Adoption in New Construction and Retrofits
  • Lighting Spectrum Control Causes Positive Impact on Humans and Productivity, Bodes Well for Market Adoption
  • Horticulture Sector Set to Benefit from Tuning Capability of Modern Lighting Controls
  • Lighting Spectrum Control Proves Beneficial for Livestock Production
  • Mandated Energy Codes, Utility Rebates and Energy Savings to Drive Lighting Controls Sales
  • Building Codes Update Regularly for Improved Energy Efficiency
  • International Building Codes Overview
  • Key Factors Hampering Market Adoption

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/uuuq6l

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Global Market for Lighting Control Components

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