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Lighting Control System Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Lighting Control System
How Large Will the Lighting Control System Market Size By 2025?
There has been a significant expansion in the lighting control system market size over the past few years. The market is expected to escalate from $42.64 billion in 2024 to $49.71 billion in 2025, projected at a Compound Annual Growth Rate (CAGR) of 16.6%. This phenomenal growth during the historic period can be credited to various factors including the growing consciousness towards energy efficiency, implementation of regulatory standards, initiation of sustainability projects, realization of cost savings, and enhancement in workplace productivity.
How Big Is the Lighting Control System Market Size Expected to Grow by 2029?
In the coming years, a swift expansion is anticipated in the lighting control system market, which is projected to reach $97.47 billion by 2029, with a compound annual growth rate (CAGR) of 18.3%. The growth during the forecast period can be ascribed to the integration of IoT, an increase in demand for smart homes, the rise of a work-from-home culture, improvements in urban infrastructure, and the requirement for retrofitting. The forecast period is also expected to see significant trends such as gesture-controlled systems, custom-made lighting experiences, the integration of li-fi, emphasis on user experience, and wireless connectivity.
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Which Key Market Drivers Powering Lighting Control System Market Expansion and Growth?
The expansion of commercial and non-commercial buildings is anticipated to support the progression of the lighting control system market. Commercial buildings are defined as non-residential structures that aren't agricultural, industrial or institutional in nature, while non-commercial buildings refer to all buildings not engaged in commercial activities or used as residential dwellings. Smart approaches like implementing systems for controlling lighting, such as dimmers and bulbs that change color, are getting increasingly adopted in workplaces, commercial buildings, and non-commercial buildings. For example, as per the Center for Sustainable Systems at the University of Michigan, an American establishment dedicated to creating methods, models, and markers for constructing sustainable futures, it's forecasted that commercial building floor space in the US will see an increase of 35% from 2021 and is estimated to reach 124.6 billion square feet by 2050. Therefore, the rising numbers of commercial and non-commercial buildings contribute significantly to the growth of the lighting control system market.
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Which Emerging Trends Are Transforming the Lighting Control System Market in 2025?
Key players in the lighting control system marketplace are pioneering advancements like cloud services technology to boost operational efficacy, facilitate remote supervision and handling, housing real-time data analysis, and thereby advancing energy savings through clever automation and interconnection with IoT gadgets. Cloud services act as on-demand computing utilities and software disseminated via the internet, thereby enabling users to control and handle data and software bereft of local infrastructure. To illustrate, Siemens AG, an automation firm hailing from Germany, unveiled Electrification X in April 2024. Electrification X aims to augment productivity, dependability, asset utilization, energy competence, and sustainability. It employs cloud services to control, optimize, and automate electrification systems, resulting in reduced operational expenses and a decrease in carbon dioxide emissions.
What Are the Emerging 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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Who Are the Global Leaders 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 are the Top Profitable Regional Markets for the Lighting Control System Industry?
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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