Information Technology & Telecommunication / Smart Lighting And Control Systems Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Eaton Corporation (NYSE: ETN), Acuity Brands (NYSE: AYI) , Honeywell International (NasdaqGS: HON)
Smart Lighting and Control Systems Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Eaton Corporation (NYSE: ETN), Acuity Brands (NYSE: AYI) , Honeywell International (NasdaqGS: HON)
Over the next five years the Smart Lighting and Control Systemsmarket will register an 27% CAGR in terms of revenue, the global market size will reach USD 25 billion by 2027.
Smart Lighting and Control Systems Market Overview
The most well-liked and in-demand product on the international market, smart light technology is extensively used in both commercial and residential settings. These are well-liked due to their remarkable versatility and minimal energy conservation. Users of the Smart Lighting and Control Systems Market system can alter the illuminations. The technology provides simple operation, productive workflows, and safe automatic controls. It has many advantages, such as a long lifespan, low energy consumption, ease of customization, and improved security features. The sector is steadily gaining market recognition in order to take off significantly on a global scale. Market study indicates that by 2027, the industry's market size should climb to almost USD 25 billion.
The Intelligent Lighting Controls Market is anticipated to reach its maximum size by 2027, expanding at a CAGR of 27%. The market is having some problems due to high installation costs and a shortage of expertise. These parameters also take into account how well-liked wireless technology is and how much money is invested in smart homes in developed cities. These are the main elements preventing the market for smart lights from expanding. These cost significantly more than LED and fluorescent bulbs.
Without a doubt, the smart lightning control market will be the greatest choice if we take the advantages into account. There are many recent developments that make it possible for users to take advantage of new business opportunities. The smart light market has been successful in expanding its business potential globally thanks to new advancements.
Who are the Major Players in Smart Lighting and Control Systems Market?
The Smart Lighting and Control Systems Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Eaton Corporation（The U.S), Acuity Brands（The U.S）, Honeywell International（The U.S), Lutron Electronics（The U.S), Elgato Systems（Germany）, Belkin International（The U.S), General Electric Company（The U.S）, Koninklijke Philips NV（Netherlands） and others.
Industry News:
Acuity Brands Partners with Microsoft to Enable Sustainable Building Solutions
Jan. 12, 2022 -- Acuity Brands, Inc. (NYSE: AYI), a market-leading industrial technology company, today announced it is expanding its collaboration with Microsoft to bring new capabilities to Acuity Brands smart lighting, lighting controls, and building automation solutions. Acuity Brands has a bold goal to avoid 100m metric tons of carbon emissions as a result of projected 2020-2030 sales of LED luminaires, lighting controls, and building management systems replacing older technologies in existing buildings
Smart Lighting and Control Systems Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This Smart Lighting and Control Systems Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.
What are the major Applications, Types and Regions for Smart Lighting and Control Systems Market?
By Type, it is segmented into
Smartphone Enabled Technology
Daylight Sensing Technology
Proximity Sensing Technology
By Applications it is segmented into
Residential
Industrial
Commercial
Outdoor Lighting
Others
Smart Lighting and Control Systems Market Regional Analysis
APAC accounted for a major share of the Smart Lighting and Control Systems market in 2021. APAC is expected to be the fastest-growing region for the market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where Smart Lighting and Control Systems the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for Smart Lighting and Control Systems in the Asian countries.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Smart Lighting and Control Systems Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Smart Lighting and Control Systems Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Smart Lighting and Control Systems Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 27% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Smart Lighting and Control Systems Report
Evaluate Smart Lighting and Control Systems market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Smart Lighting and Control Systems market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Smart Lighting and Control Systems Market is studied from 2017 - 2027.
What is the growth rate of Smart Lighting and Control Systems Market?
The Smart Lighting and Control Systems Market is growing at a CAGR of 27% over the next 5 years.
Who are the key players in Smart Lighting and Control Systems Market?
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
