Jul 6, 2017   SOURCE: BusinessWire

Navigant Research Report Finds that Revenue from Networked Lighting Control Systems is Expected to Grow at a 14.3% Compound Annual Growth Rate between 2017 and 2026

A new report from Navigant Research examines the global market for networked and non-networked intelligent lighting controls within commercial buildings, providing forecasts for unit shipments and revenue, through 2026.

Lighting controls in commercial buildings continue to advance in sophistication and overall deployments. The growth of light-emitting diodes (LEDs), in particular, play a key role in this market, offering improved controllability over legacy lighting technologies, as well as increased energy savings. Click to tweet: According to a new report from @NavigantRSRCH, revenue from networked lighting control systems across all building types globally is expected to grow at a 14.3 percent compound annual growth rate between 2017 and 2026.

“The commercial lighting sector is experiencing unprecedented change with the continued growth of LEDs,” says Krystal Maxwell, research analyst with Navigant Research. “On top of that, networked controls not only increase energy savings, but also provide greater insight and analytics into lighting and other building automation systems for commercial buildings.”

Helping to drive market growth further, building codes and standards are also propelling the lighting controls industry, according to the report. Regional codes, such as California’s Title 24, are encouraging adoption as the state works to reduce energy use and incorporate lighting-specific requirements into its Energy Efficiency Standards.

The report, Market Data: Intelligent Lighting Controls, analyzes the global market for intelligent lighting controls, both networked and non-networked, within commercial buildings. The report briefly covers the market issues, including key drivers and barriers, related to the lighting controls market for commercial buildings. Global market forecasts for unit shipments and revenue, segmented by equipment type, building type, construction type, and region, extend through 2026. The study examines sensors, multi-feature controls, relays, switches, ballasts, drivers, network control gear, and network services, with a specific focus on networked lighting controls. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, Market Data: Intelligent Lighting Controls, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.