Intelligent Lighting Controls Market to Reach $26.06 Billion by 2027

According to a recent report published by Allied Market Research, titled, “Intelligent Lighting Controls Market byType, Connectivity Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,”the global intelligent lighting controls market size was valued at $7.49 billion in 2019, and is projected to reach $26.06 billion by 2027, registering a CAGR of 17.4% from 2020 to 2027.

The intelligent lighting controls comprise different components that include sensors, ballasts & LED drivers, dimmers & switch actuators, microcontrollers, transmitters & receivers, and intelligent luminaries. The ballasts and LED drives segment is anticipated to garner the highest revenue during the forecast period. Whereas, intelligent luminaries segment would grow rapidly, registering a prominent CAGR, during the forecast period. The end users of intelligent lighting controls include commercial buildings, residential buildings, and public utilities. Commercial buildings constitute around 58% share of the overall market revenue. Commercial buildings segment comprises retail, hospitality, industrial, and others. The adoption of intelligent lighting controls systems is high in these sectors, owing to high electricity consumption and greater focus on energy management to cut down the electricity costs.

The intelligent lighting controls market forecast holds high potential in the smart building &smart home and automotive sector. The current business scenario experiences rapid development in smart infrastructure and smart lighting, leading to the readiness to adopt this connectivity type, particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features. 

According to intelligent lighting controls market trends, the smart cities segment dominates the intelligent lighting controls market, owing to highest adoption of intelligent lighting controls in these sectors. According to the U.S. Energy Information Administration, lighting accounts for approximately 40% of the total energy cost in smart building & smart home buildings. Fluctuating electricity prices have escalated operating costs of smart building & smart home and automotive spaces. Smart lighting control system helps in effective utilization of energy sources; thereby, providing customized lighting levels for optimal working conditions. Several companies have installed plug and play installation systems for smart lighting controls to maximize the use of lighting control systems.

Asia-Pacific is the leading supplier of raw materials for manufacturing of smart control systems in the world. However, Europe occupies the highest market share, owing to stringent government regulations on energy management and tax incentives. Asia-Pacific has witnessed a wide-scale adoption of these systems in the recent years, owing to their increasing demand across various smart building &smart home sectors such as retail, hospitals, smart building & smart home establishments, and manufacturing. Companies operating in the intelligent lighting controls market have a robust supply chain network, owing to the high penetration of local players in this market, which is expected to significantly affect the intelligent lighting controls market growth globally.

Ballasts play a critical role in shaping up the fluorescent luminaire performance, while being integral to the lighting system. The market is anticipating the emergence of a new rating methodology, which would be based on actual inrush load characteristics and tested inrush control tolerances. This methodology would allow better coordination between loads and controls. Electronic ballasts and drivers offer improved efficiency and control of LED, inductive and fluorescent lighting loads. They can also subject the associated lighting controls to high inrush currents when switched on, possibly causing damage or reducing the life of the photo control. The introduction of dimmable LED drivers allows users to further decrease energy cost by automatically adjusting the luminance level.

Key Findings Of The Study

• Based on type, the sensors segment generated the highest revenue in theglobal intelligent lighting controls market in 2019.

• Based on connectivity, wired segment generated the highest revenue in the global intelligent lighting controls market in 2019

• Based on applications, the smart cities segment generated the highest revenue in the global intelligent lighting controls market share in 2019.

The key intelligent lighting controls market leaders profiled in the report include Acuity Brands, Cisco, Cree, Inc., Eaton, GE Lighting, Honeywell, OSRAM, Panasonic Corporation, Philips, and Siemens. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.