Lighting Control System Market

Signify Holding (Signify, Netherlands) and Legrand S.A. (Legrand, France) are leading players in Lighting Control System Market

The lighting control system market is estimated to grow from USD 19.5 billion in 2019 and projected to reach USD 39.0 billion by 2024, at a CAGR of 14.8%. The most significant factor driving the growth of this market is the requirement for energy-efficient connected lighting controls. This requirement is due to the increased awareness to reduce energy consumption. Growing demand for intelligent solutions for street lighting systems, upcoming smart city projects in developing economies, rising adoption and decreasing cost of LEDs, growing awareness of consumers and governments about the importance of saving energy, and rapidly modifying infrastructure are the major factors contributing to the growth of the market for lighting control systems.

The rapid transition from traditional lighting to connected lighting, development of the Internet of Things (IoT) technology in the field of lighting control systems, advancements in wireless communication technologies, as well as government initiatives toward saving electricity, are expected to provide major opportunities to the lighting control system market players in the coming years.

Lighting control system manufacturers have adopted strategies such as product launches and developments, agreements, partnerships, collaborations, contracts, and joint ventures to grow in the lighting control system market. For example, in December 2018, Legrand S.A. (France) acquired Kenall (US), which is one of the leading manufacturers of innovative, energy-efficient, and sustainable specification-grade lighting and control solutions.

Major players in the lighting control system market are Signify Holding (Signify, Netherlands), Legrand S.A. (Legrand, France), Eaton Corporation (Eaton, Ireland), General Electric Company (GE, US), and OSRAM Licht AG (OSRAM, Germany). 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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Signify (Philips Lighting N.V.) (Netherlands) was ranked first in the lighting control system market in 2018. It is the global market leader with recognized expertise in the development, manufacturing, and sales of innovative, energy-efficient lighting products, systems, and services. The broad and brand recognition have enabled the company to capitalize on the fundamental market dynamics taking place in the lighting industry and deliver innovative solutions that create value and ensure its growth. The company has a huge advantage over its competitors in the market for lighting control systems, with its extensive product portfolio of lighting systems compatible with various connecting technologies, ranging from DALI, KNX, and BACnet to ZigBee and EnOcean.  The company aims to further invest in connected lighting systems, which also helped the company to win numerous contracts to supply connected lighting systems and other lighting control equipment. For instance, in November 2018, the company was selected as the connected lighting partner to illuminate up to 15 of London’s iconic bridges by 2022. The company is expected to supply its Interact Landmark system and Philips’ Color Kinetics LED luminaires to light up the bridges with dynamic, artistic lighting effects via its centrally managed software. Furthermore, the company also followed the strategy of an acquisition. For instance, in April 2019, Signify announced the acquisition of WiZ Connected, a company that develops Wi-Fi-based connected lighting ecosystems, which is expected to be completed in 2Q2019. This acquisition would enable Signify to expand its portfolio with the addition of Wi-Fi-based smart lighting products.

Legrand S.A. (France) was ranked second in the lighting control system market in 2018. Legrand S.A. is a global specialist in electrical and digital building infrastructure. The company has a strong product portfolio pertaining to the lighting control system market. The wide product portfolio enables the company to maintain its position in the market. Moreover, the company has robust research and development (R&D) capabilities that enable product innovation. The company has been investing in research and development of new lighting control products to maintain its position in the lighting control system market. For instance, in May 2019, the company launched wireless DLM systems, which were designed for easy installation, which, in turn, save cost and installation time. Thus, it benefits engineers, electrical contractors, and facility managers who need reliable, code-compliant lighting controls. Also, the company focuses on growth strategies such as acquisitions, partnerships, and product launches. For instance, in December 2018, the company acquired Kenall, which is one of the leading manufacturers of innovative, energy-efficient, and sustainable specification-grade lighting and control solutions. The addition of Kenall to its portfolio would enhance the company’s ability to compete in the lighting market by increasing the strength of its product offerings.

Related Reports:

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

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Lighting Control System Market Size,  Share & Growth Report
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