Global Lighting Controls Growth Opportunities

Global Lighting Controls Growth Opportunities

Human-Centric Lighting, Energy Efficiency Goals, and Usage Data Optimization from Connected Lighting Controls Spur Transformational Growth

RELEASE DATE
19-Apr-2022
REGION
Global
Research Code: PCB1-01-00-00-00
SKU: EN01314-GL-MT_26459
$4,950.00
In stock
SKU
EN01314-GL-MT_26459
$4,950.00
DownloadLink

Pay by invoice

ENQUIRE NOW

Description

Frost & Sullivan estimates the global lighting controls market to grow by 4.7% in 2021 after experiencing a 6.3% growth decline in 2020 due to the COVID-19 pandemic. The market is expected to reach pre-COVID-19 growth rates in 2023 and achieve $11.82 billion in revenue by 2028, expanding at a compound annual growth rate of 7.5% from 2021 to 2028. This Frost & Sullivan study provides an overview of the global lighting controls market, with analyses of global and regional revenues, growth drivers and restraints, notable acquisitions and restructuring activities, and growth opportunities.

North America holds the largest revenue share of the global lighting controls market, a trend that is forecast to continue until 2028. The regional market is maturing quickly as governments and building management companies strive toward energy efficiency and smart buildings through innovative and interoperable building systems, including lighting controls. Europe will remain the second-largest market after North America, driven by the adoption of advanced lighting control solutions in offices and the hospitality segment. Europe’s revenue share of the total lighting controls market is projected to decrease, but its growth rate between 2021 and 2028 will be higher than North America. Asia-Pacific will emerge as the fastest-growing market during the forecast period from 2022 to 2028.

Wired lighting controls are anticipated to remain the dominant technology in the market, but will lose a portion of their market share to wireless technologies. The increase in energy retrofit projects will drive the deployment of wireless lighting controls because they incur low expenditure and accelerate project execution. Robust growth is predicted for touchless lighting control solutions, such as sensors and light management systems, as the construction industry prioritizes future-proofing buildings. User interfaces like switches and dimmers are expected to find traction only in residential buildings.

Key growth drivers for the global lighting controls market include enhancing occupant comfort and well-being inside a built environment, demand for energy-efficient lighting, regulatory compliance to building codes, new construction and renovation of buildings, and technology advancements. Growth restraints include security concerns about wireless or connected lighting systems, lack of proper building codes in developing countries, and international trade conflicts and wars. The leading market participants identified in the study are Acuity Brands, GE Current, Helvar, Honeywell, Legrand, Leviton, Lutron, Signify, Universal Douglas, and Zumtobel.

Author: Dennis Marcell Victor

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Lighting Controls Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Scope of Analysis (continued)

Market Segmentation by Product

Market Segmentation by System Type and Technology

Key Competitors

Transformational Trends in the Lighting Industry

Lighting Industry Landscape and Role of Lighting Controls

IoT Use Cases and Benefits for Lighting

Key Growth Metrics

Distribution Channel

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Region

Revenue Forecast Analysis by Region

Revenue Forecast by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Revenue Forecast by Product

Revenue Forecast Analysis by Product

Revenue Forecast by System Type

Revenue Forecast by Technology

Revenue Forecast Analysis by System Type and Technology

Trends in Lighting Controls

Trends in Lighting Controls (continued)

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share

Revenue Share Analysis

Notable Acquisitions and Restructuring Activities

Notable Acquisitions and Restructuring Activities (continued)

Key Growth Metrics—North America

Revenue Forecast—North America

Revenue Forecast by Industry Vertical—North America

Revenue Forecast Analysis by Industry Vertical—North America

Key Growth Metrics—Europe

Revenue Forecast—Europe

Revenue Forecast by Industry Vertical—Europe

Revenue Forecast Analysis by Industry Vertical—Europe

Key Growth Metrics—Asia-Pacific

Revenue Forecast—Asia-Pacific

Revenue Forecast by Industry Vertical—Asia-Pacific

Revenue Forecast Analysis by Industry Vertical—Asia-Pacific

Key Growth Metrics—RoW

Revenue Forecast—RoW

Revenue Forecast by Industry Vertical—RoW

Revenue Forecast Analysis by Industry Vertical—RoW

Growth Opportunity 1: OpenADR Interface to Reduce Power Consumption of Lighting Systems

Growth Opportunity 1: OpenADR Interface to Reduce Power Consumption of Lighting Systems (continued)

Growth Opportunity 2: Focus on Building Renovation Projects to Spur Market Growth

Growth Opportunity 2: Focus on Building Renovation Projects to Spur Market Growth (continued)

Growth Opportunity 3: Usage Data Optimization as Value-Added Service

Growth Opportunity 3: Usage Data Optimization as Value-Added Service (continued)

Abbreviations and Acronyms Used

Other Notable Companies in the Lighting Controls Market

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
Frost & Sullivan estimates the global lighting controls market to grow by 4.7% in 2021 after experiencing a 6.3% growth decline in 2020 due to the COVID-19 pandemic. The market is expected to reach pre-COVID-19 growth rates in 2023 and achieve $11.82 billion in revenue by 2028, expanding at a compound annual growth rate of 7.5% from 2021 to 2028. This Frost & Sullivan study provides an overview of the global lighting controls market, with analyses of global and regional revenues, growth drivers and restraints, notable acquisitions and restructuring activities, and growth opportunities. North America holds the largest revenue share of the global lighting controls market, a trend that is forecast to continue until 2028. The regional market is maturing quickly as governments and building management companies strive toward energy efficiency and smart buildings through innovative and interoperable building systems, including lighting controls. Europe will remain the second-largest market after North America, driven by the adoption of advanced lighting control solutions in offices and the hospitality segment. Europe’s revenue share of the total lighting controls market is projected to decrease, but its growth rate between 2021 and 2028 will be higher than North America. Asia-Pacific will emerge as the fastest-growing market during the forecast period from 2022 to 2028. Wired lighting controls are anticipated to remain the dominant technology in the market, but will lose a portion of their market share to wireless technologies. The increase in energy retrofit projects will drive the deployment of wireless lighting controls because they incur low expenditure and accelerate project execution. Robust growth is predicted for touchless lighting control solutions, such as sensors and light management systems, as the construction industry prioritizes future-proofing buildings. User interfaces like switches and dimmers are expected to find traction only in residential buildings. Key growth drivers for the global lighting controls market include enhancing occupant comfort and well-being inside a built environment, demand for energy-efficient lighting, regulatory compliance to building codes, new construction and renovation of buildings, and technology advancements. Growth restraints include security concerns about wireless or connected lighting systems, lack of proper building codes in developing countries, and international trade conflicts and wars. The leading market participants identified in the study are Acuity Brands, GE Current, Helvar, Honeywell, Legrand, Leviton, Lutron, Signify, Universal Douglas, and Zumtobel. Author: Dennis Marcell Victor
More Information
Author Dennis Marcell Victor
Industries Environment
No Index No
Is Prebook No
Podcast No
WIP Number PCB1-01-00-00-00