INTELLIGENT LIGHTING CONTROLS MARKET Challenges and Opportunities

One of the key challenges faced by the intelligent lighting controls market is the higher initial investment costs involved in upgrading to intelligent lighting solutions. While intelligent lighting systems provide long term savings through reduced energy costs, the upfront capital expenditure required for installing sensors, controllers and software can be prohibitive for many potential customers. This is a significant barrier especially in cost-sensitive markets and developing economies. Additionally, lack of awareness about long term benefits also limits wide acceptance of these systems currently. However, as technology matures and costs start declining, this challenge is expected to be significantly reduced in the coming years.

Market Opportunity- Opportunities for Intelligent Lighting Controls Market

The market for intelligent lighting controls is expected to witness significant opportunities owing to the expanding commercial building space across the globe. With growing construction of offices, retail stores, hospitals and other commercial infrastructure especially in developing economies, there will be a rising demand for energy efficient lighting solutions in such facilities. Intelligent lighting controls provide an optimal way to reduce power consumption and carbon footprint of commercial buildings. As quality and performance of intelligent lighting products keep improving while being cost-effective, more builders and facility managers are expected to incorporate such systems in new projects as well as retrofitting existing spaces. This will translate into expanding market demand and growth prospects over the coming years.