HOME Research Insight General Electric Company (GE) and Philips Lighting N.V. (Netherlands) are the Key Players in the Lighting Control System Market

General Electric Company (GE) and Philips Lighting N.V. (Netherlands) are the Key Players in the Lighting Control System Market

The lighting control system market is expected to grow from USD 12.22 Billion in 2016 to USD 38.67 Billion by 2023, at a CAGR of 17.82% between 2017 and 2023. High requirement of energy-efficient lighting control systems, increasing adoption of Internet of Things (IoT) in lighting industry, acceptance of standard protocols for lighting control, and modernization and infrastructure development are the major factors driving the growth of the lighting control system market.

The key players in the lighting control system are increasingly adopting strategies such as product launches, product developments, partnerships, contracts, agreements, mergers and acquisitions, collaborations and expansions o grow in the lighting control system market. According to the present scenario, major companies in the lighting control system market are investing a lot in the research and developments. The companies are also partnering with other companies to offer energy-efficient solutions in lighting. For instance, GE is working with several other companies and government agencies across the US to implement LED technology and lighting management to help improve lighting during the night to increase safety and security. Also, Philips Lighting and Xiaomi (China) entered into a joint venture agreement to design and develop connected LED luminaires and lamps for Xiaomi's wireless smart home platform.

General Electric Company (GE), US held the first position in the lighting control system market in 2016. It is one of the key players in providing efficient lighting control solutions. The company has a strong brand name and has a well-established distribution network, which make it a leading player in the lighting control system market. The company is testing its intelligent cities’ platform, which can improve city traffic through efficient street lighting and signaling and achieve reduced energy consumption. For example, Current, a startup subsidiary of GE, partnered with AT&T (US) to connect cities across the US and Mexico to the Internet of Things (IoT). 

Philips Lighting N.V. (Netherlands) held the second position in the lighting control system market in 2016. It is the global market leader with recognized expertise in the development, manufacture, and application of innovative, energy-efficient lighting products, systems, and services. The company has a broad portfolio of products and services pertaining to lighting control systems. The company adopted growth strategies such as joint ventures, partnerships, and product launches. Philips Lighting and Ericsson (Sweden) launched a new connected streetlight for Europe with built-in 4G/LTE broadband connectivity on February 23, 2017. In November 2016, Philips Lighting partnered with DKI Jakarta Government Office (Jakarta) for a city-wide upgrade of Jakarta’s street lighting.

Related Reports:

Lighting Control System Market by Installation Type (New Installation and Retrofit), Offering (Hardware, Software, and Lighting as a Service), Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2023

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