Lighting Control System Market report delivers a detailed competitors analysis and a detailed overview in terms of market segmentation by communication protocol, end-use-applications, type, installation type, and by region.

Lighting Control System Market Statistics –

  • USD 30.59 billion revenue in 2022
  • The market size is projected to record a valuation of over USD 218.44 billion by 2035
  • The Lighting Control System industry is slated to observe 17.8% growth rate through 2023-2035

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Growing Concern for the Increasing Carbon Footprints to Promote Global Market Share of Lighting Control System

The global lighting control system market is estimated to grow majorly on account of the rising emphasis on lowering the carbon footprint by turning off lights when not in use. Turning off the lights can help to minimize carbon emissions as well as other damaging greenhouse gases. This is simply accomplished by installing an advanced level lighting control system linked to various technologies. As a result, the worldwide lighting control system market is expected to grow rapidly in the future years. According to studies, lighting contributes more than 4% of worldwide CO2 emissions.

Moreover, in order to regulate lighting, a lighting control system comprises of several lighting fixtures connected in a network. The entire lighting control system is linked to various smart devices such as smartphones, which is expected to drive market growth throughout the forecast period. According to the most recent research, there will be more than 25 billion active linked IOT devices by the end of 2030. Additionally, there has been a rise in public awareness of energy management, which is predicted to accelerate the expansion of the worldwide lighting control market in the years to com

According to recent study by Research Nester, the lighting control system market size is anticipated to surpass USD 218.44 Bn by 2035 and is projected to expand at CAGR of over 17.8% from 2023 to 2035.

Major players include in the global lighting control system market:

  • Honeywell International Inc.,
  • Panasonic Corporation,
  • Cisco Systems, Inc.,
  • General Electric Company,
  • Eaton Corporation plc,
  • RAB Lighting Inc.,
  • Schneider Electric,
  • Signify Holding,
  • ACUITY BRANDS, INC.,
  • Taiwan Semiconductor

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Some of the major growth factors and challenges that are associated with the growth of the global lighting control system market are:

Growth Drivers:

  • Surge in the Number of Smart Cities
  • Increasing Commercial and Non-Commercial Buildings

Challenges:

The lighting control system includes a variety of hardware components such as software, sensors, switches, and others, which raises the system’s original cost. Furthermore, the installation cost is significant due to the specialist needed for proper lighting system setup. Furthermore, the integration cost of the lighting control system with other devices is contributing to the cost increase. Furthermore, the interoperability issues such as internet connections, and security issues related to the lighting control system are likely to slow market growth.

By end use-applications, the global lighting control system market is segmented into indoor, and outdoor. The outdoor segment is anticipated to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period.  This can be ascribed to the increase in outdoor lighting applications, which include those for stadiums, parks, roads, and railway stations, among others. Additionally, there has been an increase in the usage of luminaries and LED lights for outdoor lighting systems, along with a growing acceptance of government standards and laws, all of which are anticipated to contribute to the segment’s growth in the market. According to current studies, more than 1% of the electricity used in India is for public lighting

By region, the North America lighting control system market is expected to generate the highest revenue by the end of 2035. This growth is anticipated by rise in smart homes and the usage of energy-efficient solutions in connection with lighting control systems. The current penetration rate of smart houses in the United States is greater than 40%. Additionally, important manufacturers with names like General Electric Company, Lutron Electronics, and others are present in nations like the United States. The market for lighting control systems in the North American area is also anticipated to rise as smart homes are more adopted, followed by rising living standards. Moreover, by the end of 2035, it is anticipated that the Asia Pacific market will hold the majority of the share among all the other markets. The market’s expansion may be mostly ascribed to the rise in the number of smart cities in nations like India and government measures to cut down on energy use.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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