Press release
Lighting Control Components Market Projected to be Resilient During 2018 to 2026
As the countries strive to produce more green energy due to increasing efficiency standards, lighting companies are implementing more and more control on lighting control components across the world. Lighting control components can range from occupancy detection to lighting controls with the aim of reducing energy consumption across various platforms. The lighting control components include light sensors, relays, passive infrared sensors, resistors, switches and more. The lighting control components make help to control the lights all together. With the help of lighting control components a bank of switches or dimmers can be replaced with single keypad providing the same function. Moreover, Lighting control components are not just limited to a single area or room, the lights of entire house can be controlled with a single button. A centralized lighting control component system incorporates communication between various system inputs and outputs with the use of central controlling device. The scenario for lighting control components has been completely transformed with the advancement in modern technologies. The changing paradigm of lighting industry to electronics industry is one of the major growth opportunities for the lighting control components market.
Global Lighting Control Components Market: Drivers and Challenges
Rising need for energy efficient lighting control solutions is a major factor driving the growth of the lighting control components market during the forecast period. Many governments and utilities have started deploying LED-based lighting control components with new technology to enhance efficiency and to reduce maintenance and operation costs. This implementation of lighting control components system is expected to be one of the key factors fueling the demand for lighting control components over the forecast period. Likewise, factors such as requirement for lighting control management systems, modernization and infrastructure development, and increasing adoption of Internet of Things are also expected to boost the growth of the lighting control components market. Moreover, the decline in average selling price of the LED driver and LED bulbs is also projected to contribute to the growth of the lighting control components market during the forecast period. However, the consumers have to bear the high initial costs while replacing existing solution to intelligent lighting solution, which is a major factor hampering the growth of the lighting control components market.
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Global Lighting Control Components Market: Segmentation
The lighting control components market can be segmented on the basis of technology, component, application and region.
Based on technology, the global lighting control components market is segmented into:
Wired
Wireless
Based on component, the global lighting control components market is segmented into:
Hardware
Software
Services
Based on application, the global lighting control components market is segmented into:
Outdoor
Roadways
Architectural
Public places
Others
Indoor
Residential
Commercial
Industrial
Others
Global Lighting Control Components Market: Competition Landscape
Key Vendors
Examples of some of the participants in the global lighting control components market identified across the value chain include General Electric Company (GE), Lutron Electronics Co. Inc., Philips Lighting N.V., Enlighted Inc., Eaton Corporation, Schneider Electric, Legrand S.A., OSRAM Licht AG, Hubbell Incorporated, Acuity Brands Inc., and Cree, Inc.
Global Lighting Control Components Market: Regional Outlook
Geographically, the global lighting control components market can be segmented into North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and Middle East & Africa.North America is expected to dominate the global lighting control components market in terms of value and volume as energy performance contracts have widespread in North America. The installation of lighting control components in non-residential segment is also responsible for high growth of the lighting control components market in North America. APEJ is projected to show huge potential and substantial growth in the global lighting control components market in due to rapid urbanization, growing safety standards, and rising demand for electronic products.
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The report covers exhaustive analysis on,
Market Segments
Market Dynamics
Historical Actual Market Size, 2013-2017
Market Size & Forecast, 2018 to 2028
Value Chain
Market Current Trends/Issues/Challenges
Competition & Companies Involved
Market Drivers and Restraints
Regional analysis includes,
North America
U.S.
Canada
Latin America
Brazil
Mexico
Argentina
Chile
Peru
Rest of LatAm
Europe
EU – 4 (Germany, France, Italy, Spain)
U.K.
BENELUX (Belgium, Netherlands, Luxemburg)
NORDIC (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
Rest of Europe
CIS & Russia
Japan
APEJ
Greater China
India
Korea
ASEAN Countries
Rest of APEJ
Middle East & Africa
GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts & industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current, and projected market size in terms of value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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