Press release
Lighting Control System Market 2020| Global Size, Share, Trends, Covid-19 Effects, Regional Analysis and Growth Opportunities Forecast to 2023
Lighting Control System Market
In its research report, Market Research Future (MRFR), asserts that the global market 2020 is slated to grow exponentially, securing a substantial market valuation of USD 39 billion by 2023, and a healthy 18% CAGR over the review period.
Get Free Sample at:
https://www.marketresearchfuture.com/sample_request/3822
Drivers and Restraints:
The factors that contribute to the growth of the market for lighting control systems are the rising demand for energy-efficient products, technological advances, increased Internet of Things adoption, modernization and infrastructural development. In addition, increasing customer awareness and raising energy prices are expected to fuel the demand over the forecast period. Nevertheless, wireless communications may often be unstable, and ongoing maintenance is the factors that hamper the overall market growth. The high deployment of various smart lighting and energy management are the factors that are expected to fuel the growth of the demand for lighting control systems. Wireless technology growth for lighting control systems is expected to propel the wireless communication technologies market during the forecast period. Cyber security problems however hamper the overall market growth. The highest market share was in the Hardware Component segment. Growing global investments in works related to infrastructure upgrades, mainly in residential and commercial buildings, is a driving force in market dominance for new installations. The rising government funding towards smart cities is also expected to motivate key companies to invent new lighting control system modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain control in the market.
Segmental Analysis:
segmentation by component comprises hardware- switches, sensors, dimmers, LED drivers, others, software- cloud based, web based services professional services, maintenance services, managed services and others. LED drivers and ballast components held a major share of the market for hardware components. Increasing demand for energy-saving lighting systems is a key driving factor for the market.
segmentation by technology comprises bluetooth, wi-fi, plc, POE, zigbee, others.
segmentation by application comprises residential, commercial, industrial, highways, roadways, railways, others.
Regional Analysis:
The geographical analysis of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world. Asia-Pacific accounted for the largest market share mainly due to enhanced infrastructure building activities in countries like India and China, infrastructure modernization and increased demand for digitization. North America, however, is also expected to rise at a rapid pace due largely to high adoption of new technological technologies, increased demand for smart homes and increased demand for energy-efficient goods. Factors such as the ever-growing population, increasing per capita income and large regional expansions have indirectly contributed to the growth of the Asian countries' lighting control systems industry.
Browse More Details on Report at:
https://www.marketresearchfuture.com/reports/lighting-control-system-market-3822
Competitive Analysis:
The major market players operating in the global market as acknowledged by MRFR are Legrand S.A. (France), Lutron Electronics Co. Inc. (US), Philips Lighting N.V. (Netherlands), Eaton Corporation (Ireland), Leviton Manufacturing Company, Inc. (US), Acuity Brands Inc. (US), OSRAM Licht AG (Germany) and Cree, Inc. (US), General Electric Company (GE) (US), and` among others.
The Lighting Control System Market continues to be highly competitive. To retain its market place and drive business growth, a competitive environment is created by rising diverse and diversified foreign organizations, domestic organizations and new entrants. Market leaders are constantly innovating and increasingly pursuing market growth through numerous strategic mergers and acquisitions, innovation, increased research and development investments, and cost-effective product portfolio. Significant players invest in internal R&D, and most of all in the acquisition of other businesses.
Contact:
+1 646 845 9312
Email: sales@marketresearchfuture.com
Blog: http://mrfrblog.com/
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lighting Control System Market 2020| Global Size, Share, Trends, Covid-19 Effects, Regional Analysis and Growth Opportunities Forecast to 2023 here
News-ID: 2101101 • Views: …
More Releases from Market Research Future (MRFR)
Payment Service Provider Market Projected to Hit USD 140.91 Billion at a 5.48% C …
Market Overview:
The Payment Service Provider (PSP) market has witnessed substantial growth over the past decade, driven by the explosive rise in digital commerce, mobile payments, and cross-border transactions. As businesses strive to streamline payment processes and deliver frictionless experiences to customers, the demand for robust, secure, and scalable PSP solutions has surged.
PSPs serve as intermediaries between merchants and financial institutions, enabling the acceptance of electronic payments via multiple methods…
Boundary Scan Hardware Market Poised for Growth, Reaching USD 3.16 Billion by 20 …
Market Overview:
The Boundary Scan Hardware Market has emerged as a crucial segment within the electronics testing and debugging industry, offering advanced solutions for fault detection and circuit verification in integrated circuits (ICs) and printed circuit boards (PCBs). Leveraging the IEEE 1149.1 standard, boundary scan commonly referred to as JTAG (Joint Test Action Group) provides a non-invasive and efficient testing methodology that minimizes the need for physical probes. Boundary Scan Hardware…
Metaverse for Automotive Market is Expected to Touch USD 123.51 Billion By 2034
Market Overview:
The Metaverse for Automotive Market is redefining how automakers, suppliers, and consumers interact in a digitally immersive world. With the integration of AR/VR, IoT, blockchain, and AI technologies, the automotive industry is stepping into the virtual realm to enhance everything from product design and manufacturing to marketing, sales, and customer service.
The global rise in digital transformation, coupled with increasing consumer demand for interactive and customized experiences, is fueling…
AGV Software Market to Grow at 10.82% CAGR, Hitting USD 6.46 Billion by 2034
Market Overview:
The AGV Software Market is rapidly evolving as industries shift towards intelligent automation and digital transformation in their logistics and material handling operations. AGV software acts as the brain of autonomous vehicles, enabling seamless navigation, scheduling, route optimization, fleet coordination, and task management. With the growing demand for efficient, contactless, and error-free logistics, AGV systems have found significant adoption across warehouses, manufacturing plants, ports, and healthcare facilities. AGV Software…
More Releases for Lighting
Track Lighting Market Analysis By Top Keyplayers - Philips Lighting, Acuity Bran …
The "Track Lighting Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Track Lighting Market, 2024-2031
Verified Market Research's most recent report, "Track Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination…
Residential Lighting Market Top Players || EVERLIGHT; Hinkley Lighting; IKIO LED …
Residential Lighting Market research report comprises of several parameters which are thoroughly studied by the experts. To generate the best market analysis report, a range of objectives of the marketing research are required to be kept in mind. With this industry report it becomes simpler for customers to understand the various drivers and restraints impacting the market during the forecast period. Residential Lighting Market report helps to provide such market…
Energy Efficient Lighting Market Explore Future Growth by 2022 | Philips Lightin …
Worldwide Market Reports has announced the addition of the “Global Energy Efficient Lighting Market Research Report 2017”, The report classifies the global Energy Efficient Lighting Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The report firstly introduced the Energy Efficient Lighting basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes;…
Energy Efficient Lighting Market Forecast to 2023: Acuity Brands, Cooper Lightin …
A report added to the rich database of Qurate Business Intelligence, titled “World Energy Efficient Lighting Market Research Report 2023 (Covering USA, Europe, China, Japan, India and etc)”, provides a 360-degree overview of the Global market. Approximations associated with the market values over the forecast period are based on empirical research and data collected through both primary and secondary sources. The authentic processes followed to exhibit various aspects of the…
Energy Efficient Lighting Market Development and Growth Analysis by Philips Ligh …
Worldwide Market Reports has announced the addition of the “Global Energy Efficient Lighting Market Research Report 2017”, The report classifies the global Energy Efficient Lighting Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The report firstly introduced the Energy Efficient Lighting basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes;…
Track Lighting Market 2017-2022: Eaton, Juno, Lithonia Lighting, Satco, Hubbell …
The report on “Global Track Lighting Market” is a professional report which provides thorough knowledge along with complete information pertaining to the Track Lighting industry a propos classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc.This market research report on the Global Track Lighting market is a complete study of the markets current trends, industry growth drivers and restraints. It…
