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Lighting Control System Market Growth Analysis, Industry Insights, Outlook 2023 To 2032
Lighting Control System Market
The Business Research Company's Lighting Control System Market Report 2023 identifies Growing commercial and non-commercial buildings as the major driver for the Lighting Control System market's growth in the forecast period. A commercial building refers to any non-residential structure that is not agricultural, industrial, or institutional. A non-commercial building is any structure or building not used for a commercial enterprise or as a residential residence.
The global lighting control system market is expected to grow from $30.82 billion in 2022 to $36.56 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lighting control system market is expected to reach $70.63 billion in 2027 at a CAGR of 17.9%.
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Major competitors in the Lighting Control System market are General Electric Co., Taiwan Semiconductor Manufacturing Company Limited, Panasonic Corporation, Cisco Systems Inc.
A key trend in the Lighting Control System market includes advancements in technology. Major companies operating in the lighting control system market are using advanced technologies to sustain their position in the market. For instance, in August 2021, Intermatic Incorporated, a US-based appliance, electrical, and electronics manufacturing company, launched the new ARISTATM Advanced Lighting Control System, a programmable smart lighting solution for up to 10,000 ft2 of commercial and public facilities. Users can adapt ARISTA to their project requirements using a range of modular components, and installation challenges are eliminated by deliberate design choices like battery-powered sensors and secure Bluetooth 5.0 mesh networking technologies.
Read More On The Global Lighting Control System Market Report Here:
https://www.thebusinessresearchcompany.com/report/lighting-control-system-global-market-report
The Lighting Control System market is segmented -
• By Installation Type: New Installation, Retrofit
• By Offering: Hardware, Software, Services
• By Communication Protocol: Wired, Wireless
• By End-Use: Indoor, Outdoor
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Lighting Control System market.
The Business Research Company's "Global Lighting Control System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Lighting Control System Market Include:
1. Executive Summary
2. Lighting Control System Market Characteristics
3. Lighting Control System Market Trends And Strategies
4. Lighting Control System Market - Macro Economic Scenario
5.1. Global Lighting Control System Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……………………………………………………………………………
32. Global Lighting Control System Market Competitive Benchmarking
33. Global Lighting Control System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lighting Control System Market
35. Lighting Control System Market Future Outlook and Potential Analysis
36. Appendix
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