Intelligent Lighting Controls Market Size is Expected to Reach $26.06 Billion by 2027 | Registering a CAGR of 17.4%

As per the report published by Allied Market Research Titled "Intelligent Lighting Controls Market by Type (Sensors, Ballasts & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers, and Others), Connectivity Type (Wired and Wireless),and Application (Smart Cities, Automotive, Manufacturing, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027".

The global intelligent lighting controls market was valued at $7.49 billion in 2019, and is projected to reach $26.06 billion by 2027, registering a CAGR of 17.4% from 2020 to 2027.

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Some of the prime drivers of the Intelligent lighting control industry are surge in penetration of the aging infrastructure is further anticipated to drive the Intelligent lighting control market growth. The market for Intelligent lighting control would be driven by investing in new technology aimed at increasing system life. Another key factor driving the growth of the Intelligent lighting control market is the increased focus on infrastructure throughout the world.

Intelligent lighting control provides monitoring technology to alert maintenance workers when outdated and overused equipment is about to fail, allowing them to make better decisions by providing real-time data on problems and possibilities for improvement. Aside from the limits listed above, there are others, such as environmental factors such as temperature and humidity, as well as groundwater seepage, which can have an influence on the operation of switchgear electrical networks, particularly those situated outside. The changing times necessitate changes in the fundamentals as well. In this situation, even small and medium-sized organizations (SMEs) are taking advantage of collocation data hubs' immense potential and the internet's enormous capacity.

Segmentation
By Type
o Sensors
o Ballasts & LED Drivers
o Microcontrollers
o Dimmers & Switch Actuators
o Transmitters & Receivers
o Others

2. By Connectivity Type
o Wired
o Wireless

3. By Application
o Smart Cities
o Automotive
o Manufacturing
o Media & Entertainment
o Others

The intelligent lighting controls comprise different components that include sensors, ballasts & LED drivers, dimmers & switch actuators, microcontrollers, transmitters & receivers, and intelligent luminaries. The ballasts and LED drives segment is anticipated to garner the highest revenue during the forecast period. Whereas, intelligent luminaries segment would grow rapidly, registering a prominent CAGR, during the forecast period. The end users of intelligent lighting controls include commercial buildings, residential buildings, and public utilities. Commercial buildings constitute around 58% share of the overall market revenue. Commercial buildings segment comprises retail, hospitality, industrial, and others. The adoption of intelligent lighting controls systems is high in these sectors, owing to high electricity consumption and greater focus on energy management to cut down the electricity costs.

The intelligent lighting controls market forecast holds high potential in the smart building &smart home and automotive sector. The current business scenario experiences rapid development in smart infrastructure and smart lighting, leading to the readiness to adopt this connectivity type, particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features.

The Intelligent lighting control market is analyzed across the globe and highlight several factors that affect the performance of the market across the various region including North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

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The Intelligent lighting control market report provides thorough information about prime end-users and annual forecast during the period from 2023 to 2032. Moreover, it offers revenue forecast for every year coupled with sales growth of the market. The forecasts are provided by skilled analysts in the market and after an in-depth analysis of the geography of the market. These forecasts are essential for gaining insight into the future prospects of the Intelligent lighting control industry.

Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Competitive Analysis:
The Intelligent lighting control industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

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Some of the major key players of the global Intelligent lighting control market include:
Acuity Brands, Cisco, Cree, Inc., Eaton, GE Lighting, Honeywell, OSRAM, Panasonic Corporation, Philips, and Siemens

The market study further promotes a sustainable market scenario on the basis of key product offerings. On the other hand, Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. The report provides an explicit global Intelligent lighting control market breakdown and exemplifies how the opposition will take shape in the new few years to come. Rendering the top ten industry players functional in the market, the study emphasizes on the policies & approaches integrated by them to retain their foothold in the industry.

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Key Benefits for Stakeholders:
• This study comprises analytical depiction of the global Intelligent lighting control market growth along with the current trends and future estimations to depict the imminent investment pockets.
• The overall Intelligent lighting control market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current Intelligent lighting control market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and the Intelligent lighting control market share of key vendors.
• The report includes the market trends and the Intelligent lighting control market opportunity of key vendors.

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