Aug 28, 2018   SOURCE: BusinessWire

Global Light Management System Market 2018-2022: Market to Grow at a CAGR of 13.8% - Key Vendors Are Eaton, GE, Honeywell International, Schneider Electric & Siemens - ResearchAndMarkets.com

The "Global Light Management System Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global light management system market to grow at a CAGR of 13.8% during the period 2018-2022.

Global Light Management System Market 2018-2022 has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of light management systems to end users such as residential users, commercial users and others.

Advancement in IoT technology, increasing consumer preference for convenience and rising need for low carbon emission-based solutions are contributing to the growth of the smart home market. Light management systems provide desired amount of light in rooms and are energy efficient. Since, lighting control systems play a major role in smart homes the trend of rising demand for home automation will fuel the growth of the market during the forecast period.

According to the report, one of the major drivers for this market is the increasing adoption of energy efficient light sources. With growing awareness of energy crisis, there is a rising demand for energy efficient lighting control systems that reduces energy consumption and eliminate over lighting. Efficient solid-state lighting (SSL) using LED sources can be controlled remotely as a part of a larger lighting network which helps in energy savings. Thus, the gradual shift towards LED lighting is fueling the growth of the lighting management systems market.

Further, the report states that one of the major factors hindering the growth of this market is the high cost of implementation and price sensitivity among customers. The cost of licensing, installation, maintenance and upgrades of light management system software is high. The implementation of digital lighting systems in homes also takes a long time. Owing to lack of awareness of advantages of lighting management systems in developing countries, the high cost of these systems will affect the decision making of price sensitive consumers. These factors are expected to impede the growth of the lighting management systems market during the next five years.

Key vendors

  • Eaton
  • GE
  • Honeywell International
  • Schneider Electric
  • Siemens

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Market Sizing

Part 06: Five Forces Analysis

Part 07: Market Segmentation By End-User

Part 08: Market Segmentation By Type

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/xtbpwb/global_light?w=4