Allied Market Research published a report on Luminaire and Lighting Control Market by Product, Component, Light, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030. The global luminaire and lighting control market size was valued at $72.72 billion in 2020, and is projected to reach $130.56 billion by 2030, registering a CAGR of 6.44%.
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The luminaire and lighting controls comprise different components that include sensors, LED drivers, dimmers & switch actuators, microcontrollers, transmitters & receivers, and intelligent luminaries. In a typical traditional lighting system, luminaire, sensors and lighting controllers are installed separately. These sensors are connected to luminaires and control inputs that is aggregated at a control panel which featuring controller. The ongoing miniaturization of sensors and controllers allows both to be embedded in luminaires.
The application of luminaire and lighting controls include indoor and outdoor. The indoor lighting includes lighting systems that are installed within homes, offices, industrial units and other smart light systems within the premise boundaries. Lighting controls are devices and systems that turn lighting ON/OF or raise/lower output according to need. Over the past few years, these functions have become increasingly automated to save energy in indoor segment, with demand focused on new construction due to energy codes.
The prominent factors that impact the luminaire and lighting control market growth are increasing demand of street and roadways lighting, high development of smart lighting system, and government initiatives toward energy saving product. On the contrary, surging development of smart city projects in Asia-Pacific is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the development of the global luminaire and lighting control market during the forecast period.
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The company profile section of the Luminaire and Lighting Control Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global Luminaire and Lighting Control Market include,
Acuity Brands, Inc.
Lutron Electronics Co., Inc,
Key Findings of the Study
The hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 6.10% during the forecast period.
The indoor segment accounted for more than 60% of the global market share.
The lighting control segment witness highest growth rate during the forecast period.
Germany was the major shareholder in the Europe luminaire and lighting control market revenue, accounting for approximately 28% share.
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