Global Analysis of Smart Lighting & Control Systems Market Anticipated to Surge at a CAGR of 15.6% during 2016-2024

Albany, New York, January 31, 2017: Due to the technological advancements for intelligent control systems having features like automated light control (daylight/natural), color temperature and occupancy, of Smart Lighting and Control System Market is experiencing an admirable growth from the past few years. A new report by Transparency Market Research states that global market is expected to be worth US$96.38 bn until the end of 2024 as compared to US$26.26 bn in 2015. This study has been published to the online portal of Market Research Hub (MRH) and is added to its database. The base year considered in the report is 2015.

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Smart lighting and control systems are being extensively used in various sectors as they offer remarkable energy-efficient service along with automated control. With the latest home automation technologies, the lighting experience became smarter than before. The term “Smart Lighting” refers to a smart system that provides customers the ease of use along with cost-effective and less complex features. Thus, expected to grow in the coming years.

In the next section, the report presents an overview of the market with its detailed market segmentation. The market is segmented by lighting source, end users, control systems and geography. Geographically, the report analyzes the market in some of the key regions such as Asia-Pacific (APAC), Europe, South America, North America, Middle East & Africa (MEA). Among these, North America is projected to show dominance in the global market. On the basis of lighting source, it covers:

Light Emitting Diodes (LED) Lights and Lamps
Fluorescent Lamps & Compact Fluorescent Lamps
High-Intensity Discharge Lamps (HID)

By control system, smart lighting and control systems market is classified into smartphone-enabled technology, proximity and daylight sensing technology. It is well known that lighting consumes a high energy cost, so industries, government department are focusing on reducing the energy utilization by switching the traditional lighting systems with advanced lighting control systems. The lighting control system is now also connected to systems such as movement sensors, intruder alarms along with interior & exterior temperature and light sensors.

Moving further, major driver and key trends are highlighted in the report. According to TMR research, rising demand for implementation of smart lighting & control systems across outdoor lighting applications such as parking lot, street lighting, walkways and playing fields globally is creating strong prospects for smart lighting and control systems market. Also, growing acceptance of advance and wireless lighting controls has led to the extensive presence of smart lighting and control system dealers around the globe.

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Moreover, some of the leading players in smart lighting and control systems market are also profiled in the report, such as General Electric Company, Honeywell International, Inc., Koninklijke Philips N.V., Elgato Systems, Belkin International, Inc., Eaton Corporation, Lightwave PLC, LiFI Labs, Inc., Lutron Electronics Company, Inc. and Acuity Brands Lighting, Inc.

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This release was published on openPR.