Luminaire and Lighting Control Market Research, 2030
The global luminaire and lighting control market size is expected to reach $130.56 billion by 2030 from $72.72 billion in 2020, growing at a CAGR of 6.44% from 2021 to 2030.
Luminaire and lighting control refers to a control strategy where each luminaire and control is independent from every other and can therefore maximize incremental control within very small areas.
The lighting control system is an automated technology that comprises multiple lighting fixtures connected in a network to control lighting. Lighting control improves energy efficiency, performance, and customer value. These systems have numerous applications across diverse verticals, which include aircraft, automobiles, home appliances, and many other systems. Luminaire is a complete lighting unit, consisting of one or more lamps, along with the socket and other parts that hold the lamp in place and protect it. These fixtures are electrically or battery-powered with a control switch, attached either to the lamp body or to a power cable.
Lighting controls have been increasingly adopted to reduce energy consumption. Moreover, an increase in awareness about energy management has fostered the luminaire and lighting control market growth. In addition, government regulations on the use of energy-efficient products boost the growth of the market. The introduction of low-price sensors and plummeting prices of LED products is expected to minimize the cost of installation, thereby creating numerous growth opportunities for the lighting controls market.
The global luminaire and lighting control market size is anticipated to witness significant growth during the forecast period. Factors such as increasing demand for street and roadways lighting, high development of smart lighting systems, and government initiatives toward energy-saving products drive the luminaire and lighting control market growth. Smart lighting solutions are expected to provide huge momentum in the process of building smart cities. Smart lighting addresses sustainable development challenges successfully, thereby creating lucrative opportunities for the luminaire and lighting controls market. However, high initial installation cost is a major restraint to the global market growth. In addition, the surging development of smart city projects in Asia-Pacific is expected to create opportunities for the luminaire and lighting control industry. The governments have played a major role in the smart city project through their regulations and initiatives, and have focused on the deployment of smart services as a major part of their infrastructure.
Segment Overview
The global luminaire and lighting control market share is segmented based on product, component, light, technology, application, and region. By product, the market is bifurcated into luminaire and lighting control.
By component, it is divided into hardware, software, and services. Based on light, it is segregated into LED, halogen, fluorescent, HID, and others.
By Component
Luminaire segment is projected as one of the most lucrative segments.
By technology, it is fragmented into wired and wireless. The wireless segment is further sub-segmented into Wi-Fi, Bluetooth, ZigBee, and others.
Depending on the application, it is separated into indoor and outdoor. The indoor segment is further sub-segmented into residential, commercial, and industrial. The commercial is further segmented into offices, restaurants and hotels, healthcare facilities, educational institutions, and others.
By Application
Indoor segment is expected to secure leading position during forecast period.
Region-wise, the luminaire and lighting control market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market due to an increase in the adoption of enhanced technologies in smart infrastructure.
By Region
Asia-Pacific region would exhibit the highest CAGR of 7.70% during 2021-2030
Top Impacting Factors
The prominent factors that impact the luminaire and lighting control market growth are increasing demand for street and roadways lighting, high development of smart lighting systems, and government initiatives toward energy-saving products. However, high initial installation cost restricts the market growth. On the contrary, the surging development of smart city projects in Asia-Pacific is expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect the global luminaire and lighting control industry during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major luminaire and lighting control market players, such as Acuity Brands, Inc. (Georgia), Cree, Inc. (U.S.), Eaton Corporation (U.S.), General Electric (U.S.), OSRAM AG (Germany), Philips N.V. (The Netherlands), Dialight (UK), Legrand S.A. (France), Lutron Electronics Co., Inc (U.S.), and Hubbell Incorporated (U.S.), are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global luminaire and lighting control market outlook, along with the current trends and future estimations to depict the imminent investment pockets.
- The overall luminaire and lighting control market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, luminaire, and lighting control market opportunities, with a detailed impact analysis.
- The current luminaire and lighting control market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the luminaire and lighting control market share of key vendors.
- The report includes the market trends and the revenue share of key vendors.
Luminaire and Lighting Control Market Report Highlights
| Aspects | Details |
 By Product |
|
 By Component |
|
 By Light |
|
 By Technology |
|
 By Application |
|
 By Region |
|
 Key Market Players | ACUITY BRANDS, INC., LEGRAND S.A., HUBBEL INCORPORATED, GENERAL ELECTRIC COMPANY, DIALIGHT, KONINKLIJKE PHILIPS N.V., CREE, INC., OSRAM LICHT AG, EATON CORPORATION, .LUTRON ELECTRONICS CO |
Analyst Review
According to the insights of the CXOs of leading companies, the luminaire and lighting controls market holds high potential in the smart building & smart home. The current business scenario experiences rapid development in smart infrastructure and lighting leading to readiness to adopt 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.
Asia-Pacific is the leading supplier of raw materials for manufacturing of smart control systems across the globe. Also, 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, automotive, and manufacturing. Companies operating in the luminaire and lighting controls market have a robust supply chain network owing to the high penetration of local players in this market.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the market players.
The Luminaire and Lighting Control Market is estimated to grow at a CAGR of 6.44% from 2021 to 2030.
The Luminaire and Lighting Control Market is projected to reach $130.56 Billion by 2030.
To get the latest version of sample report
Increasing demand of street and roadways lighting, high development of smart lighting system, and government initiatives toward energy saving products are the prime factors that drive growth of the Luminaire and Lighting Control Market.
The key players profiled in the report include Acuity Brands, Inc. (Georgia), Cree, Inc. (U.S.), Eaton Corporation (U.S.), General Electric (U.S.), OSRAM AG (Germany), Philips N.V. (The Netherlands), Dialight (UK), Legrand S.A. (France), Lutron Electronics Co., Inc (U.S.), and Hubbell Incorporated (U.S.)
On the basis of top growing big corporations, we select top 10 players.
The Luminaire and Lighting Control Market is segmented on the basis of product, component, light, technology, application, and region.
A. The key growth strategies of Luminaire and Lighting Control Market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR.
Loading Table Of Content...
