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Dimmer and Color Tunable Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players
Dimmer and Color Tunable Market
The Business Research Company offers in-depth market insights through Dimmer and Color Tunable Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The dimmer and color tunable market size has grown strongly in recent years. It will grow from $16.89 billion in 2023 to $18.52 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to energy efficiency regulations, consumer demand for customization, architectural and interior design trends, environmental awareness, government incentives.
The dimmer and color tunable market size is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to smart home integration, iot connectivity, commercial sector growth, health and well-being trends, regulatory standards. Major trends in the forecast period include advanced led technologies, integration with smart home systems, customization and personalization, regulatory compliance, technological innovations.
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Market Segmentation:
The dimmer and color tunable market covered in this report is segmented -
1) By Product: Dimmer, Color Tunable
2) By Light source: Incandescent And Halogen, Fluorescent, Light-Emitting Diode (LED), High-Intensity Discharge(HID)
3) By End-User: Commercial, Residential, Other End-User
Major Driver - Surging Demand For Energy-Saving Leds Drives Growth In The Dimmer And Color-Tunable Market
The increasing demand for energy-saving LEDs is expected to propel the growth of the dimmer and color-tunable market going forward. LEDs (Light Emitting Diodes) refer to semiconductor devices that emit light when an electric current is passed through them. LEDs have emerged as a popular choice for use in dimmers and color-tunable lighting solutions due to their long lifespan, color-tuning capabilities, and versatility. For instance, according to the U.S. Department of Energy, a US-based federal agency, LED lighting is becoming increasingly popular, accounting for 84% of all lighting installations and offering the potential to save 4.8 quads of energy every year by 2035. Therefore, increasing demand for energy-saving LEDs drives the dimmer and color-tunable market.
Competitive Landscape:
Major companies operating in the dimmer and color tunable market report are Acuity Brands Lighting Inc., Cree Lighting Inc., Eaton Corporation plc, Daintree Networks Inc., Honeywell International Inc., Hubbell Inc., Koninklijke Philips N.V., Lutron Electronics Co. Inc., OSRAM GmbH, Leviton Manufacturing Co. Inc., Lite Puter Enterprise Co. Ltd., Cooper Industries, Schneider Electric SE, ABB Ltd, General Electric Company, Panasonic Corporation, Sensata Technologies Inc., Sharp Corporation, Maxim Integrated Products Inc., Linear Technology Corporation, Vishay Intertechnology Inc., Texas Instruments Incorporated, Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Silicon Laboratories Inc., Lifx
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Top Trend - Urc Introduces Lt-3300 Dimmer/Switch In Response To Growing Trends In The Dimmer And Color Tunable Market
Product innovation has emerged as a key trend gaining popularity in the dimmer and color tunable market. Major players operating in dimmer and color tunable market are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in June 2023, URC, a US-based residential and commercial automation company launched URC Lighting LT-3300 dimmer/switch device. Installers can easily configure the next-generation smart products as either a dimmer or switch, swiftly programming the LT-3300 products to establish unique atmospheres for various occasions, such as entertaining or quiet family events. Owners have the seamless capability to activate customized scenes, receive system notifications, and control intuitive lighting programs, according to the company. Utilizing URC's Total Control system and Accelerator software, URC Lighting is seamlessly networked to offer comprehensive integration. This integration enables the launch of highly customized or frequently used lighting sequences, such as Good Morning, Dinner Party, and Good Night scenes.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dimmer and Color Tunable Market Characteristics
3. Dimmer and Color Tunable Market Trends And Strategies
4. Dimmer and Color Tunable Market - Macro Economic Scenario
5. Dimmer and Color Tunable Market Size And Growth
…..
27. Dimmer and Color Tunable Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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