INTELLIGENT LIGHTING CONTROLS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global Intelligent Lighting Controls Market is estimated to be valued at USD 13.90 Bn in 2024 and is expected to reach USD 46.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 18.8% from 2024 to 2031.
Intelligent lighting control systems are gaining popularity as they enable optimization of energy consumption and operational costs. These systems utilize sensors, connections and intelligence in lighting fixtures, circuits or zones to provide benefits such as presence detection, daylight harvesting, scheduling and more. They help reduce usage when not required through reliable detection of occupancy and available natural light. Advanced intelligent lighting controls that integrate with building management systems can automate operations and enable remote monitoring for improved efficiency. With growing environmental concerns and emphasis on sustainability, the adoption of intelligent lighting is expected to increase significantly in the coming years.
Market Dynamics
The intelligent lighting controls market is driven by factors such as rising energy costs, stringent regulations regarding energy efficiency, growing construction industry and infrastructure development activities globally. Various government initiatives and incentives promoting adoption of LED lighting and smart controls further aid the market growth. However, high initial installation costs could limit the demand from budget-constrained end-users. Advancements in wireless communication technologies are expanding opportunities for development of innovative intelligent lighting solutions. Integration of lighting systems with IoT is also gaining traction as it enables remote monitoring and data-driven maintenance strategies.
Key features of the study:
- This report provides in-depth analysis of the global intelligent lighting controls market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global intelligent lighting controls market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include General Electric (GE) Lighting, Philips Lighting (Signify), Eaton Corporation, Honeywell International, Acuity Brands Inc., Cree Inc., Lutron Electronics Co., Inc., Leviton Manufacturing Co., Inc., Schneider Electric, Siemens AG, Digital Lumens, Inc., WAGO Corporation, Infineon Technologies, and Cisco Systems Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global intelligent lighting controls market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global intelligent lighting controls market.
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Intelligent Lighting Controls Market' - Global forecast to 2031
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