Intelligent Lighting Control Market : Market Research by Knowledge Sourcing Intelligence

The global intelligent lighting control market is projected to grow at a CAGR of 12.04%, to reach a market size of US$7.803 billion by 2023, from US$3.945 billion in 2017. Intelligent lighting control provides a more efficient solution to lighting management in personal, commercial, or public spaces. Intelligent lighting control allows users to control multiple light sources and provide efficient control over them in order to reduce electricity consumption and costs. The demand for these solutions will improve over the forecast period owing to the increasing penetration of smart home solutions and favorable government policies promoting these systems in public and commercial spaces. However, the high cost of replacement of the current systems might pose as a restrain for residential, and small and medium scale enterprises.
North America is estimated to hold a significant share in the market owing to the early adoption of the technology and government initiatives in the region. Asia Pacific is projected to witness multiple growth opportunities owing to the rising standards of living and penetration of smart home solutions in budding economies such as India and China.We are providing market research for global intelligent lighting control with complete information.
Intelligent Lighting Control Market by Geography
By geography, the global intelligent lighting control market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. The growing investments in the development of connected infrastructure for the smart cities network is projected to drive the Europe intelligent lighting control market. Moreover, the launch of Strategic Roadmap 2025 by LightingEurope – an industry association comprising more than 1000 companies, which aims at growing the European market through intelligent lighting, human centric lighting, LEDification, and circular economic thinking is further anticipated to drive the market during the forecast period. Similarly, the focus on reducing energy consumption and bill by the government is anticipated to drive the United States intelligent lighting control market while the growing investment in the development of smart city infrastructure is projected to drive the intelligent lighting control market in Asia Pacific.

intelligent lighting control market
Sample view of intelligent lighting control market share by region
Intelligent Lighting Control Market by End User
By end user, the global intelligent lighting control market is segmented as commercial buildings, residential buildings, and public utilities. Commercial buildings accounted for a significant market share in 2017 owing to the rapid urbanization and increasing investments towards converting cities into smart cities. Rising awareness among consumers towards the efficient utilization of electricity with reduced wastage is expected to drive the market for different sub-segments during the forecast period. The public utility sector is expected to grow at a significant rate on account of growing government investments in the infrastructure sector and rising regulation for effective management of electricity consumption.
Furthermore, increasing innovation in technologies by the companies to provide intelligent lighting control through collaborations is also expected to expand the market for various end users. For instance, Cree, Inc. in 2018 announced a new collaboration with Synapse Wireless, Inc. to deliver intuitive and expand its SmartCast intelligence lighting control platform designed specifically for outdoor area application.

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