According to the new market research report "Lighting Control System Market by Installation Type (New and Retrofit), Offering (Hardware, Software, and Services), End-use Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2024" The global lighting control system market is expected to reach USD 39.0 billion by 2024 from USD 19.5 billion in 2019, growing at a CAGR of 14.8% from 2019 to 2024.Lighting control system provides a combination of sensors, control units, and lamps or luminaries. These systems turn the lights on and off or dim them based on time, occupancy, event, or alarm. The systems are designed as stand-alone lighting control systems or as integrated lighting control systems. Lighting control systems are used for intelligent switching, daylight saving lighting, sensor-based lighting, and mood lighting. Since lighting controls are used to provide the right amount of lighting as and when needed, either automatically or manually, these systems aid in energy efficiency.
Browse 102 market data Tables and 64 Figures spread through 201 Pages and in-depth TOC on "Lighting Control System Market by Installation Type (New and Retrofit), Offering (Hardware, Software, and Services), End-use Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/lighting-control-system-market-66050609.html
New installations to hold larger market size of lighting control system market during forecast period
The lighting control system market for new installations stood at higher market share during the forecast period. New installations accounted for a larger share of ~72.0% of the lighting control system market in 2018. The increase in global efforts in infrastructure improvement-related works, mostly for buildings used for residential and commercial purposes, is a driving factor for the dominance of the lighting control system market for new installations.
Lighting control market for wireless communication protocols is expected to grow at higher CAGR from 2020 to 2025
The development of wireless technologies for lighting control systems is expected to drive the market for wireless communication technologies during the forecast period. Wireless communication protocols are needed for communication between the evolving technologies. This section includes wireless protocols such as ZigBee, Bluetooth, EnOcean, Wi-Fi, and 6LoWPAN. The lighting control system market is flourishing, which has attracted other wireless technology vendors.
North America to account for a significant share of the global lighting control system market
The North American market has been segmented into the US, Canada, and Mexico. Countries such as the US and Canada in the North American region are promoting energy-efficient lighting control solutions over traditional lighting control systems. North America is home to major developers and manufacturers of lighting control systems such as General Electric Company (US), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), and Ideal Industries (US) among others; the products of these companies are widely deployed in the commercial and industrial applications for indoor lighting. Rapid modernization in North America is leading to high growth in the outdoor lighting segment in the region, leading to the incorporation of smart switches as well as daylight and motion sensor-based lighting controls.
The report profiles key players such as Signify Holding (Signify, Netherlands), Legrand S.A. (Legrand, France), Eaton Corporation (Eaton, Ireland), General Electric Company (GE, US), and OSRAM Licht AG (OSRAM, Germany). The other players operating in the lighting control system market include Acuity Brands, Inc. (Acuity, US), Leviton Manufacturing Company, Inc. (Leviton, US), Lutron Electronics Co. Inc (Lutron, US), Ideal Industries Inc. (Ideal Industries, US), Schneider Electric (Schneider, France), and Honeywell International Inc. (Honeywell, US).
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