Intelligent Lighting Controls Market Overview:
Global Intelligent Lighting Controls Market is expected to garner $8.3 billion by 2020, registering a CAGR of 16.2% during the forecast period 2015 - 2020. Intelligent lighting control system is an automated technology, which comprises multiple lighting fixtures connected in a network, to control lighting. Intelligent lighting control systems improve energy efficiency, performance and customer value. These systems have numerous applications across diverse verticals, which include aircrafts, automobiles, home appliances and many other systems. Intelligent lighting controls have been increasingly adopted in an effort to reduce energy consumption.
Moreover, increasing awareness of energy management has fostered the growth of the global intelligent lighting controls market. Based on geography, Europe was the largest revenue-generating region in the world sports apparel market in 2014. However, Asia-Pacific would be the leading revenue-generating region by 2020, owing to increasing adoption of intelligent lighting control systems across various industrial sectors. However, installation cost and longer payback period of LED lights, have restrained the growth of these systems.
Numerous key players are operating in the market which include Schneider Electric SE, Honeywell International, Inc., General Electric Company, Koninklijke Philips N.V., OSRAM Licht AG, Acuity Brands Lighting, Inc., Legrand France SA, Digital Lumens, Inc., Zumtobel Group AG and Lutron Electronics Co, Inc. They have adopted various growth strategies to capture a larger market share and increase their customer base. Product launches, partnerships and acquisitions are the prime growth strategies adopted by these companies to sustain the intense competition in the market.
global Intelligent Lighting Market Segmentation
The report analyses the sports apparel market based on component type, connectivity type, application and geography. On the basis of components, the market is segmented into sensors, ballasts & LED drivers, microcontrollers, dimmers & switches actuators, transmitters and receivers and intelligent luminaries. Based on the type of connectivity, global intelligent lighting controls systems, are categorized into wired and wireless intelligent lighting controls. In 2014, wired intelligent lighting controls segment contributed around 88% share of the overall revenue of intelligent lighting controls market. Wireless intelligent lighting controls segment would witness a significant adoption, during the forecast period owing to better scalability, flexibility and retrofitting features. Based on applications, the market is segmented into commercial buildings, residential buildings and public utilities. Commercial buildings segment contributed the maximum revenue share of around 58% of the overall market revenue in 2014, followed by public utilities and residential buildings segments. The global intelligent lighting controls market is segmented on the basis of four geographical regions, which include North America, Europe, Asia Pacific and LAMEA. Presently, Europe is the leading revenue revenue-generating region in the world. However, Asia-Pacific is expected to surpass Europe, to emerge as the highest revenue-generating region during the forecast period, owing to increasing adoption of intelligent lighting control systems across various industrial sectors.
TOP FACTORS IMPACTING GLOBAL INTELLIGENT LIGHTING CONTROL MARKET
Increasing Electricity Prices
The spiralling electricity prices globally, have increased the operating budget for building owners. The commercial buildings are major end users for intelligent lighting controls market. The prices for raw materials, such as coal and oil prices for generating electricity are increasing. To substantiate such price increment, providers regularly hike up the prices of electricity and it is expected that during the forecast period the electricity prices would rise significantly. The intelligent lighting controls provide economical usage of electricity and further reduce the energy consumption in lighting. Thus, to minimise the impact of fluctuating electricity prices, these controls would continue to witness increasing demand.
In many regions, government has formulated regulations in order to effectively utilize and manage electricity consumption. Some of the regulations as imposed by the respective authorities include China’s five-year plan targets for energy efficiency projects and European 2020 energy targets to reach net-zero energy consumption in public and private buildings. Such regulations would boost the growing adoption of intelligent lighting controls during forecast period.
Rising awareness among Consumers
The end users are becoming more aware of effectiveness of intelligent lighting controls in managing the electricity consumption as well as the costs. Intelligent lighting controls provide efficient utilization of energy with reduced wastage of electricity consumption. The rising awareness is one of the important factors boosting the adoption of intelligent lighting controls worldwide.
The advancements in technologies and improved connectivity solutions have increased the adoption of intelligent lighting controls globally. Different wireless technologies such as ZigBee, Bluetooth have made installations of intelligent lighting controls seamless across various spaces. In addition, lighting controls providing companies have set different standards for intelligent lighting controls such as EnOcean, BACnet and have established innovative solutions in an effort to make lighting control more energy efficient. More advancement is expected in technologies for intelligent lighting controls, during the forecast period, thereby leading to a higher adoption across different end users segment.
Longer Payback Period
The installation cost for intelligent lighting controls is high. This increases the payback period, hence limiting the adoption of intelligent lighting controls in many regions. The declining prices of components during the forecast period would eventually reduce the payback time, thereby leading to a higher adoption in the near future.
INTELLIGENT LIGHTING CONTROLS MARKET KEY BENEFITS
- The report includes extensive analysis of the factors driving as well as restraining the global Intelligent Lighting Controls Market
- The market projections for the period 2014-2020 have been included along with factors affecting the same
- The report also provides quantitative as well as qualitative market trends to help the stakeholders in understanding the situations prevailing in the market
- An in-depth analysis of key segments of the market demonstrates stakeholders with different types of green solvents consumed across different industries on the globe
- SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
- Competitive intelligence highlights the business practices followed by the leading market players across various geographies
INTELLIGENT LIGHTING CONTROLS MARKET KEY SEGMENTS
By Component Type
- Ballasts and LED Drivers
- Dimmers and Switches Actuators
- Transmitters and Receivers
- Intelligent Luminaries
By Connectivity Type
By End User
- Commercial Buildings
- Residential Buildings
- Public Utilities
- North America