Global Luminaire and Lighting Control Market to Rise in Response to Increasing Demand for Energy-efficient Lighting Solutions

The global luminaire and lighting control market is expected to rise at a steady pace. As per a recent study, the market will significantly gain from the increasing demand for energy-efficient solutions. The study is titled “Luminaire and Lighting Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” and is currently available for sale on the official website of MarketResearchReports.biz. The report focuses on analyzing key factors enabling growth in the global luminaire and lighting control market. Besides this, it studies the potential threats to help market players prepare counter-strategies to tackle them. The report is therefore intended to offer valuable market intelligence for the companies operating in the luminaire and lighting control market. Besides this it includes extensive information to offer readers a comprehensive overview of the market.

Globally the focus on energy-saving has greatly increased. This has in turned fuelled growth opportunities for the global luminaire and lighting control market. On the back of the prevailing scenario, governments across the world are encouraging the deployment of LED-based lighting control systems. Furthermore, to capitalize on prevailing opportunities have started offering improved technologies that offer energy efficiency and enable reduction of maintenance costs. Spurred by the prevailing factors, the global luminaire and lighting control market will showcase steady growth through the course of the report’s forecast period.

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In order to present a detailed assessment, the report segments the global market based on product, application, light, technology, component, and region. On the basis of product, the market can be bifurcated between luminaire and lighting control. Of these, the luminaire segment is forecast to hold the majority share in the market by 2018. In terms of light, the global luminaire and lighting control market can be segmented into HID, fluorescent, halogen, and LED. Of these the LED segment held the leading share in the global market in 2017 and is forecast to remain at the fore through the forecast period. Based on technology, the market can be classified into wired and wireless. On the basis of component, service, software, and hardware constitute the key market segments. Application-wise, the global market can be segmented outdoor and indoor.

Regionally, Asia Pacific is expected offer attractive growth opportunities to the global luminaire and lighting control market. China is expected to hold major share among key markets for luminaire and lighting control products in Asia Pacific. Factors such as rapid urbanization and industrialization, expansion of the lighting industry, and the rising penetration of wireless devices will catapult Asia Pacific to the market’s fore. Besides China, the luminaire and lighting control market in Asia Pacific is expected to witness demand from Japan and India. The implementation of smart city projects in emerging nations will also pave way for the market’s growth in the future.

Some of the leading players operating in the global luminaire and lighting control market are Philips Lighting N.V., General Electric Co., OSRAM Licht AG, Cree, Inc., General Electric, Acuity Brands, Inc., Lutron Electronics Co., Inc, Legrand S.A., Hubbell Incorporated, Eaton Corporation, and LSI Industries Inc..

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