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Rising Construction Activities Fuels Lighting Control System Market Growth: Powering Innovation and Expansion in the Lighting Control System Market by 2025
Lighting Control System
What Is the Expected CAGR for the Lighting Control System Market Through 2025?
Rapid growth has been observed in the lighting control system market size in recent years. The market which was valued at $42.64 billion in 2024, is expected to reach $50.1 billion in 2025, showcasing a compound annual growth rate (CAGR) of 17.5%. Factors such as increased energy efficiency awareness, regulatory standards, sustainability measures, cost savings, and an increase in workplace productivity have contributed to the growth during the historic period.
What's the Projected Size of the Global Lighting Control System Market by 2029?
Experts predict swift expansion in the lighting control system market in the coming years, with its value slated to reach $98.93 billion by 2029, growing at a compound annual growth rate (CAGR) of 18.5%. Factors fuelling this anticipated growth during the forecast period include integration with the Internet of Things (IoT), rising demand for smart homes, the prevalence of work-from-home culture, improvements to urban infrastructure, and demand for retrofitting. The forecast period also sees significant trends such as gesture control systems, bespoke lighting experiences, Li-Fi integration, emphasis on user experience, and wireless connectivity.
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Top Growth Drivers in the Lighting Control System Industry: What's Accelerating the Market?
The expansion of the lighting control system market is projected to be fuelled by the construction of new commercial and non-commercial buildings. A commercial building is any non-residential unit that doesn't fall into the categories of agriculture, industry, or institutions, while non-commercial buildings are structures that aren't utilized for commercial activities or as residential homes. The use of lighting control tools such as dimming devices and color-shifting lamps provides a smart method for integrating networked controls in offices, commercial, and non-commercial buildings. For example, in September 2022, the University of Michigan's Center for Sustainable Systems, a US-based body that devises systems analysis methods, models, and markers for promoting sustainable futures, stated that the floor space in US commercial buildings is predicted to grow by 35% since 2021 and reach a massive 124.6 billion square feet by the year 2050. Hence, the surge in commercial and non-commercial buildings is contributing to the enlargement of the lighting control system market.
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What Trends Will Shape the Lighting Control System Market Through 2029 and Beyond?
Leading organizations involved in the lighting control system market are innovating technologies like cloud services technology to boost operational productivity, support remote observation and control, encourage real-time data evaluation, and increase energy savings through intelligent automation and IoT device integration. Cloud services provide on-demand computing capabilities and apps via the internet, enabling users to oversee and handle data and software, bypassing the need for local infrastructure. For example, Siemens AG, an automation firm based in Germany, unveiled Electrification X in April 2024. This system aims to amplify productivity, dependability, asset utilization, energy efficacy, and sustainability. It capitalizes on cloud services for the supervision, optimization, and automation of electrification systems, thus slashing operational expenses and CO2 emissions.
What Are the Main Segments in the Lighting Control System Market?
The lighting control system market covered in this report is segmented -
1) By Installation Type: New Installation, Retrofit
2) By Offering: Hardware, Software, Services
3) By Communication Protocol: Wired, Wireless
4) By End-Use: Indoor, Outdoor
Subsegments:
1) By New Installation: Residential, Commercial, Industrial
2) By Retrofit: Upgrading Existing Systems, Replacement Of Outdated Controls
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Which Top Companies are Driving Growth in the Lighting Control System Market?
Major companies operating in the lighting control system market include General Electric Co., Taiwan Semiconductor Manufacturing Company Limited, Panasonic Corporation, Schneider Electric SE, Honeywell International Inc., Eaton Corporation plc, Infineon Technologies AG, Legrand SA, Signify NV, Hubbell Incorporated, Acuity Brands Inc., OSRAM GmbH, WAGO Corporation, Leviton Manufacturing Company Inc., Zumtobel Group AG, Ideal Industries Inc., Lutron Electronics Co. Inc., Inventronics Inc., RAB Lighting Inc., Toshiba Lighting & Technology Corporation, Helvar Ltd., Synapse Wireless, Digital Lumens Inc.
Which Regions Will Dominate the Lighting Control System Market Through 2029?
North America was the largest region in the lighting control system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lighting control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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