Sep 23, 2021   SOURCE: BusinessWire

Global Luminaire and Lighting Control Market (2021 to 2030) - by Product, Component, Light, Technology, Application and Region - ResearchAndMarkets.com

The "Luminaire and Lighting Control Market by Product, Component, Light, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global luminaire and lighting control market size is expected to reach $130.71 billion by 2030 from $72.66 billion in 2020, growing at a CAGR of 6.51% from 2020 to 2030.

Luminaire and lighting controls are a range of lighting devices that can regulate the levels, quality and characteristics of light in a defined space. These devices aid in reducing electricity wastage while simultaneously encouraging energy efficiency. In addition, lighting control is a network-based lighting control solution that uses various components, such as occupancy sensors, transmitters & receivers, and microcontrollers for controlling lighting. The control systems offer various advantages such as maximizing energy savings, while adhering to building codes and complying with green building and energy conservation programs. These systems have been widely used in lighting applications of smart building & smart home establishments, industries, and automotive areas. Reduced energy consumption is one of the major advantages of using smart lighting controls.

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. However, high initial installation cost restricts the market growth. On the contrary, surge in 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.

The global luminaire and lighting control market is segmented into product, component, light, technology, application, and region. By product, the market is bifurcated into luminaire and lighting control. By component, it is divided into hardware, software, and services. On the basis of light, it is segregated into LED, halogen, fluorescent, HID, and others. By technology, it is fragmented into wired and wireless. The wireless segment further sub segmented into Wi-Fi, Bluetooth, ZigBee, others. Depending on application, it is separated into indoor and outdoor. The indoor segment further sub segmented into residential, commercial, and industrial. The commercial is further sub segmented into offices, restaurants and hotels, healthcare facilities, educational institutions, and others.

Region-wise, the luminaire and lighting control market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market, due to an increase in enhanced technologies in smart infrastructure.

Market Dynamics

Drivers

  • Increasing demand of street and roadways lighting
  • High development of smart lighting system
  • Government initiatives toward energy saving product

Restraint

  • High initial installation cost

Opportunity

  • Surging development of smart city projects in Asia-Pacific

Key Players

  • Acuity Brands, Inc.
  • Cree, Inc.
  • Eaton Corporation
  • General Electric
  • OSRAM AG
  • Philips N.V.
  • Dialight
  • Legrand S.A.
  • Lutron Electronics Co., Inc,
  • Hubbell Incorporated

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