Press release
The Market for Lighting Controllers is Anticipated to Expand at a CAGR of 17.6% by the end of 2025
Lighting Controllers Market
The global market for lighting controllers was estimated to be worth around US$ 4,800 million in 2017 and is predicted to expand to be worth around US$ 17,400 million in 2025, displaying a CAGR of 17.6% over the forecast period of 2017-2025, according to Persistence Market Research's analysis.
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Government Spending on Smart City Projects in the APAC Region Boosting Revenue Growth of the Lighting Controllers Market
The governments in emerging economies such as China and India are focusing on developing smart cities by changing the existing infrastructure, such as old incandescent bulbs and outdated communication systems, and are installing new technologies such as embedded and connected lighting fixtures to impart better living standards to the people.
Also, government spending on smart city management services such as road monitoring applications, environment, light sensing, and advanced energy saving is the primary factor which is fueling the growth of the lighting controllers market. For example, in April 2017, the Indian government announced plans to invest in the smart cities initiative. The Indian government has already allocated over US$ 2.3 Bn to this project in the last two budgets.
Global Lighting Controllers Market: Segmentation and Forecast
The global lighting controllers market is segmented on the basis of technology, application and region.
By technology, the sensor segment was estimated to be valued at nearly US$ 1,400 Mn in 2017 and is expected to reach a valuation of nearly US$ 4,700 Mn in 2025, witnessing significant growth during the forecast period.
By application, the commercial segment was estimated to be valued at nearly US$ 2,000 Mn in 2017 and is anticipated to register a CAGR of 17.0% during the period of forecast.
By region, the Asia Pacific lighting controllers market was estimated to be valued at nearly US$ 1,550 Mn in 2017 and is likely to reach a valuation of nearly US$ 6,000 Mn in 2025, reflecting a CAGR of 18.5% during the period of assessment.
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Global Lighting Controllers Market: Competitive Landscape
In this report, some of the prominent companies active in the global lighting controllers market have been profiled, which include companies such as
Hubbell
GE Lighting, LLC
OSRAM Licht AG
Philips Lighting Holding B.V
Acuity Brands Lighting, Inc
Eaton Corporation
Schneider Electric S.E
Honeywell International
Lutron Electronics
CREE, INC
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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