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LED Lighting Controllers Market is Predicted to Grow at a CAGR of 17.4% During 2017 – 2025
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Global LED Lighting Controllers Market: Forecast Highlights
The research report on the global LED lighting controllers market states that the global market is projected to soar at a stellar CAGR of 17.4% during the forecast period to reach a valuation of above US$ 5 Bn by 2025 end from a value of around US$ 1,400 Mn in 2017.
Global LED Lighting Controllers Market: Segmental Analysis
The global LED lighting controllers market is segmented on the basis of connectivity, by end user, by technology and by region.
By connectivity, wireless LED lighting controller segment is expected to be the fastest growing segment and is expected to reflect a CAGR of 21.1% during 2017-2025 and reach an estimation above US$ 2,600 Mn by the end of the assessment year. This segment is likely to lead the global market.
By region, Asia Pacific is the largest with a higher valuation and high growth rate in the global LED lighting controllers market. The LED lighting controller market in this region is estimated to reach US$ 2,067.5 Mn by 2025 end and is projected to rise at a 19.4% CAGR during the forecast period.
By end user, street lighting segment is likely to dominate the global market with respect to high market valuation by the end of the assessment year. The residential segment is poised to grow at the highest CAGR of 21.0% during the period of forecast.
By technology, time scheduling segment is the largest and most lucrative as it is estimated to touch a higher valuation by 2025 end and is expected to grow at a high CAGR of 20.6% throughout the period of forecast.
Global LED Lighting Controllers Market: Growth Influencing Factors
Several drivers fuelling the growth of the global LED lighting controllers market include rapid development of smart lighting infrastructure, increased adoption of smart lighting solutions in real estate, increasing partnerships with government authorities, various benefits of LED lighting controllers, growing demand for better lighting infrastructure, increasing lighting projects worldwide, increasing green building projects, rising demand for LED lighting controllers in the night club industry, growing applications of lighting solutions in the healthcare industry, increased government spending on smart city projects, rising inclination towards adoption of smart technology products, growing smart street lighting projects, favorable government initiatives and rising adoption of LED lighting controllers in retail stores. Challenges faced by wireless lighting control systems such as high maintenance and periodic battery change, less awareness about modern and smart lighting fixtures, challenges associated with centralized lighting control systems and high installation costs are hindering the growth of the global market for LED lighting controllers.
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Global LED Lighting Controllers Market: Competitive Assessment
The report includes details on key companies operating in the global market. Profiles of companies such as Hubbell Lighting, Inc., GE Lighting, LLC, OSRAM Licht AG, Royal Philips NV, Acuity Brands Lighting, Inc., Eaton Corporation, Schneider Electric S.E, Honeywell International, Lutron Electronics and CREE, Inc., are included in this research study.
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