Global Luminaire and Lighting Control Market
Global Luminaire and Lighting Control Market was valued US$ XX Bn in 2019 and is expected to grow at CAGR 5.6 % to reach at $111.65 Bn in forecast period.
Global Luminaire and Lighting Control Market Overview:
Luminaire contains an electric lamp that provide illumination. The luminaires are manymetals, glass and plastic. Strength, windage resistance and resistance to vibration are some of the mechanical characteristics provided by the luminaire. Downward-light/output ratio is high in luminaire, which is benefiting the market.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Health and Safety at Work, in different countries, stating any possible danger to safety be recognized and the necessary action should be taken to provide sufficient protection of the workforce. It is most important that the correct type of luminaire should be selected and the installation is in accordance with the recognized safety standard. As electricity prices are continuously rising, government institutions are switching to energy-efficient lights to reduce cost with improved safety and efficiency. Also rise in awareness about energy-efficient lights is propelling the market growth.
Global Luminaire and Lighting Control Market Dynamics:
The modernization and increasing urbanization across the globe is primarily fuelling global market. Rise in living standards of urban communities in some countries and the efforts taken by government as well as private organizations to attain the efficient lighting solutions are the factors boosting the market.
Development of infrastructure such as smart cities, government policies to support energy-efficient lighting, integrated lighting control systems in various sectors such as residential and commercial buildings will drive the market during the forecast period. Smart lighting system has become one of the fundamental aspect of the smart buildings to improve the energy consumption. Lighting represents around 14% of the overall energy needs of a building according to a research survey of the Massachusetts Institute of Technology.
However, the major obstruction in implementing smart lighting control solutions is the cost associated with these products. For example energy-efficient lights and light emitting diodes cost approximately US $35 each whereas compact fluorescent bulb costs approximately $2 to $15 each. On an initial capital cost basis, LEDs are more costly over conventional lighting technologies.
Global Luminaire and Lighting Control Market, Segmentation Analysis:
The luminaire lighting system held the 91.2% share of the total smart lighting system in 2019. The Asia Pacific region is expected to lead the global luminaire and lighting control market with a CAGR of 6% during the forecast period. China is the major contributor, which contributed 44.1% share in the regional market. Growth in the population, rapid industrialization, increased penetration of the wireless devices in the light industry are some of the prominent factors, which are expected to share significant growth in the luminaire and lighting control market. North America and Europe collectively held 51.8% share of the global market share in 2018.
The objective of the report is to present a comprehensive analysis of Global Luminaire and Lighting Control Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Luminaire and Lighting Control Market dynamics, structure by analyzing the market segments and project the Global Luminaire and Lighting Control Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Luminaire and Lighting Control Market make the report investor’s guide.
Global Luminaire and Lighting Control Market Overview:
Luminaire contains an electric lamp that provide illumination. The luminaires are manymetals, glass and plastic. Strength, windage resistance and resistance to vibration are some of the mechanical characteristics provided by the luminaire. Downward-light/output ratio is high in luminaire, which is benefiting the market.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Health and Safety at Work, in different countries, stating any possible danger to safety be recognized and the necessary action should be taken to provide sufficient protection of the workforce. It is most important that the correct type of luminaire should be selected and the installation is in accordance with the recognized safety standard. As electricity prices are continuously rising, government institutions are switching to energy-efficient lights to reduce cost with improved safety and efficiency. Also rise in awareness about energy-efficient lights is propelling the market growth.
Global Luminaire and Lighting Control Market Dynamics:
The modernization and increasing urbanization across the globe is primarily fuelling global market. Rise in living standards of urban communities in some countries and the efforts taken by government as well as private organizations to attain the efficient lighting solutions are the factors boosting the market.
Development of infrastructure such as smart cities, government policies to support energy-efficient lighting, integrated lighting control systems in various sectors such as residential and commercial buildings will drive the market during the forecast period. Smart lighting system has become one of the fundamental aspect of the smart buildings to improve the energy consumption. Lighting represents around 14% of the overall energy needs of a building according to a research survey of the Massachusetts Institute of Technology.
However, the major obstruction in implementing smart lighting control solutions is the cost associated with these products. For example energy-efficient lights and light emitting diodes cost approximately US $35 each whereas compact fluorescent bulb costs approximately $2 to $15 each. On an initial capital cost basis, LEDs are more costly over conventional lighting technologies.
Global Luminaire and Lighting Control Market, Segmentation Analysis:
The luminaire lighting system held the 91.2% share of the total smart lighting system in 2019. The Asia Pacific region is expected to lead the global luminaire and lighting control market with a CAGR of 6% during the forecast period. China is the major contributor, which contributed 44.1% share in the regional market. Growth in the population, rapid industrialization, increased penetration of the wireless devices in the light industry are some of the prominent factors, which are expected to share significant growth in the luminaire and lighting control market. North America and Europe collectively held 51.8% share of the global market share in 2018.
The objective of the report is to present a comprehensive analysis of Global Luminaire and Lighting Control Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Luminaire and Lighting Control Market dynamics, structure by analyzing the market segments and project the Global Luminaire and Lighting Control Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Luminaire and Lighting Control Market make the report investor’s guide.for more information visit https://www.maximizemarketresearch.com/market-report/global-luminaire-and-lighting-control-market/54037/
The Scope of Global Luminaire and Lighting Control Market
Global Luminaire and Lighting Control Market, By Product
• Luminaire • ControlGlobal Luminaire and Lighting Control Market, By Light
• LED • Halogen • Fluorescent • HID • OthersGlobal Luminaire and Lighting Control Market, By Technology
• Wired • Wireless • Wi-Fi • Bluetooth • ZigBee • OtherGlobal Luminaire and Lighting Control Market, By Component
• Hardware LED Drivers & Ballasts Sensors Switches Dimmers Relay Units Gateways • Software Web-based Cloud-based Hybrid • Services Professional Services Managed ServicesGlobal Luminaire and Lighting Control Market, By Application
• Indoor Residential Commercial Industrial Others (Public and Government Buildings) • Outdoor Architectural Lighting Roadways Lighting Lighting for Public Places Others (Rail Lines and Harbors)Global Luminaire and Lighting Control Market, by Region
• North America • Europe • Asia Pacific • Middle East & Africa • South AmericaGlobal Luminaire and Lighting Control Market, Key Players
• General Electric Co. • Philips Lighting N.V. • Cree, Inc. • Legrand S.A. • OSRAM Licht AG • Eaton Corporation • Lutron Electronics Co., Inc. • Acuity Brands, Inc. • Hubbell Incorporated • LSI Industries Inc.This
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