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According to MarkNtel Advisors’ research report titled “Global Lighting Controls Market Analysis, 2020”, the Lighting Controls market is projected to register a CAGR of around 14% during 2020-25. The Asia-Pacific region is anticipated to rapidly grow in the Global Lighting Controls market in the forthcoming period.
| Report Coverage | Details |
| Study Period | Historical Data: 2015-19 |
| Base Year: 2019 | |
| Forecast Period: 2020-25 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
The Asia-Pacific Lighting Controls market is driven largely by the adoption of lighting controls for large open spaces in the form of halls in hotels and restaurants since the past few years and it is further expected that the construction of new hotels and restaurants would add to larger demand in the coming years. For instance, the construction of hotel and convention centers, worth around USD 282 million in India is expected to add demand for lighting controls by 2022.
Moreover, the push toward the installation of smart street lamps for traffic management and resolving parking issues in India, China, and developing South-East Asian countries would drive the software market for lighting control.
The software segment acquired a considerable market share in the Global Lighting Controls market in 2019. The demand for software both cloud and web-based are expected to increase in the coming years due to surging demand for smart lighting solutions worldwide. The smart lighting control system is easily controllable through smartphones and other smart devices. Thus, the demand for smart lighting solutions is increasing throughout the world. The cloud-based lighting control system are used by end-users to reduce the risk of safety and security. The construction of hospitals, government building, etc. are generating the demand for cloud-based lighting control systems throughout the world.
According to MarkNtel Advisors, the key players capturing a considerable market share in the Global Lighting Controls market include Lutron, Acuity Brands, Legrand, Hubbel Inc., Schneider Electric, Eaton, ABB, etc. The players are introducing new lighting control systems and software to gain a competitive edge in the industry. In 2018, Fulham launched a new line of Bluetooth mesh lighting control systems and software. In 2019, LG introduced a new lighting control system, the LG Smart Lighting Manager (SLM).
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Global Lighting Controls Market during 2020-25?
A. The market size of Global Lighting Controls Market during 2020-25 is forecast to be around 14%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that Asia-Pacific will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Lighting Controls Market?
A. Lutron, Acuity Brands, Legrand, Hubbel Inc., Schneider Electric, Eaton, ABB are few of the leading players in the Global Lighting Controls Market.
Q. Does the report scope cover Global Lighting Controls connection type and region wise market statistics also?
A. Yes, the scope of the report encompass detailed Global Lighting Controls connection type and region wise statistics such as market size, market segmentation based on various subcategories.
Q. Which component segment would emerge as an opportunity area for players in Lighting Controls Market?
A. The Software segment the largest segments will continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Lighting Controls Market.
