Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.87 million | USD 45.29 million | 15% | 2023 |
The global intelligent lighting controls market size was worth around USD 12.87 billion in 2023 and is predicted to grow to around USD 45.29 billion by 2032 with a compound annual growth rate (CAGR) of roughly 15.00% between 2024 and 2032.
Intelligent lighting controls are a network of interconnected advanced technologies that are used for managing lighting fixtures and connections digitally across commercial, industrial, and residential sectors. Intelligent lighting controls eliminate the need for manual work and are known to improve energy efficiency since they involve the use of multiple types of digital systems such as sensors, software programs, remote control tools, and wireless or wired connectivity. Intelligent lighting controls have found wide applications across large facilities spread across extensive areas that are difficult to maintain manually. The growing awareness among consumers about the importance of efficient light management has resulted in higher demand for intelligent lighting controls that not only manage lighting conditions but also provide key insights on various aspects of light consumption so that businesses and users can take a proactive approach toward efficient energy consumption. Some of the leading applications of intelligent lighting controls are observed in storage facilities and commercial centers. However, the increasing commercialization of intelligent lighting controls has allowed the industry to register consumers in the residential sector as well. The forecast period holds exceptional growth opportunities for the market players.
Rising focus on achieving higher energy efficiency across industrial settings is expected to drive the market demand
The global intelligent lighting controls market is projected to generate high growth due to the growing focus on achieving higher energy efficiency across industrial settings. The rampantly growing rate of industrialization has increased the burden on the power & utilities sector. Some countries are unable to meet the electricity demand rate while certain nations are facing a serious lack of constant power supply. One of the major ways to minimize the growing demand for energy is by incorporating solutions that optimize electricity consumption and improve energy efficiency. This concept of optimizing energy performance has multifold benefits. For instance, it provides community advantages in the form of increased community resilience and promotes energy equity by allowing access to an uninterrupted supply of power across communities including non-privileged. Moreover, it aids in even distribution of energy costs further aiding financial gain to communities that follow energy efficient protocols. The second most drastic impact of energy conservation is on the environment. The excess of fossil fuel has led to drastic changes in the quality of the ecosystem caused by air, land, and water pollution. The deteriorating quality of the environment can be saved by adopting measures that maximize energy efficiency. Industrial units are some of the largest energy consumers and hence they must adopt ways to improve their energy consumption patterns which can be enabled using intelligent lighting controls.
Rising demand for robust warehousing facilities across industries will fuel the market demand
One of the largest consumers of intelligent lighting controls is expansive warehouses. They are facilities that store goods before they are distributed to the relevant buyers. The growing demand for goods across sectors such as building & construction, food & beverages, and others are fueling the demand for warehouses which will ultimately lead to the expansion of the consumer base for the global intelligent lighting controls market. In August 2023, ESR Group, powered by the New Economy and Asia’s largest real asset manager, completed the construction of ESR Langfang Baiyi Logistics Park, spread across 2 stories.
High cost of initial implementation and integration with legacy systems will restrict the market expansion rate
The global industry for intelligent lighting controls will be restricted due to the high cost of initial implementation. Intelligent lighting control systems are made using an extensive number of components such as sensors and networking tools. The cost of implementation increases further with a rise in the coverage area. Users may face difficulty in integrating modern intelligent lighting control systems with legacy technologies, especially older tools thus restricting the market growth rate.
Growing number of new product launches will generate higher growth avenues for the market players
The global intelligent lighting controls market will generate growth opportunities due to the increasing number of new product launches with advanced features and properties. The growing innovation rate allows for more growth opportunities as new customers get added to the market thus resulting in healthier competition among solution providers. In May 2021, Lutron Electronics announced the launch of a Vive wireless lighting control system in the Indian market targeting small-scale projects in the country. These devices are highly flexible in terms of application as they can be across large campuses or single spaces.
In addition to this, the expansion of existing service providers in new territories along with a sharp rise in acquisitions, mergers, and other forms of partnerships will further alleviate the market growth rate. In March 2023, Signify, a leading developer of intelligent lights, acquired Intelligent Lighting Controls, Inc. (ILC). The latter is a US-based producer of wired control systems offering its services to growing sectors such as commercial offices, healthcare, sporting venues, and education.
Advancing applications of intelligent lighting controls in recreational events will help the industry thrive
Intelligent lighting controls have found applications in the flourishing industry of recreational events including concerts and other festivals. A leading attraction of these events is coherent lighting solutions that work in tandem to create the desired effect. Moreover, such functions demand streamlined performance where music and light must be synched throughout thus creating space for the products offered in the global intelligent lighting controls market. As per official data, more than 50,000 events were held in the US in 2023.
Concerns over cybersecurity threats is a major challenge that needs attention
The global industry for intelligent lighting controls faces challenges as the sector is plagued by concerns over cybersecurity threats. Intelligent lighting controls are connected devices that leverage advanced technologies such as telecommunications and the Internet. This makes the connected network highly vulnerable to digital threats as users' personal information may get compromised.
The global intelligent lighting controls market is segmented based on application, type, connectivity, and region.
Based on application, the global market segments are residential buildings, commercial buildings, and public utilities. In 2023, the highest growth was observed in the commercial building segment. The rising use of intelligent lighting control systems in warehouses and large industrial centers is driving the segmental demand. During the forecast period, the global warehousing market is projected to grow at a CAGR of more than 13.9%. The growing development of robust warehouses in the e-commerce sector is acting as a dominant factor for segmental growth.
Based on type, the global intelligent lighting controls industry is divided into dimmers & switch actuators, ballasts & LED drivers, sensors, transmitters & receivers, microcontrollers, and others.
Based on connectivity, the global market segments are wireless and wired. In 2023, the highest demand was observed in the wireless segment since it offers higher flexibility. Moreover, wireless connections are more scalable as compared to wired counterparts. One of the key attributes of wireless connectivity is remote control features thus establishing the segment's foothold. In 2023, the global wireless connectivity market was valued at over USD 175 billion.
Report Attributes | Report Details |
---|---|
Report Name | Intelligent Lighting Controls Market |
Market Size in 2023 | USD 12.87 Billion |
Market Forecast in 2032 | USD 45.29 Billion |
Growth Rate | CAGR of 15.00% |
Number of Pages | 228 |
Key Companies Covered | Leviton, Synapse Wireless, Philips Lighting, Osram, Digital Lumens, Lutron Electronics, Helvar, Hubbell Lighting, Acuity Brands, Schneider Electric, Zumtobel Group, Cree Lighting, Signify (formerly known as Philips Lighting), Legrand and Eaton., and others. |
Segments Covered | By Application, By Type, By Connectivity, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia-Pacific to lead the regional market revenue during the forecast period
The global intelligent lighting controls market is expected to witness the highest growth in Asia-Pacific. Countries such as Japan, China, and India are some of the largest producers of intelligent lighting solutions thus creating more scope for growth for associated control systems. Japan is a technological hub in terms of lighting solutions. In March 2020, Panasonic Corporation and Renesas Electronics Corporation entered a partnership through which the former adopted Renesas’ R9A06G037 power line communication (PLC) Integrated Circuit (IC) to be used in Panasonic’s lighting control system. In addition to this, the demand for energy-efficient solutions in the country has witnessed steady growth as the demand for energy is rampantly increasing but there is a significant lack of supply of constant energy. This is especially applicable in emerging countries such as China and India. Europe is projected to deliver exceptional results during the projection period. The region is a frontrunner in terms of adopting solutions that save energy or optimize power consumption. The growing use of intelligent lighting control systems across the healthcare industry as well as commercial and residential settings will fuel the regional demand. The North American region will be driven by the growing construction of modern and technologically advanced warehouses. The rise in the government's focus on improving energy consumption patterns will aid further market growth.
The global intelligent lighting controls market is led by players like:
By Application
By Type
By Connectivity
FrequentlyAsked Questions
Intelligent lighting controls are a network of interconnected advanced technologies that are used for managing lighting fixtures and connections digitally across commercial, industrial, and residential sectors.
The global intelligent lighting controls market is projected to generate high growth due to the growing focus on achieving higher energy efficiency across industrial settings.
According to study, the global intelligent lighting controls market size was worth around USD 12.87 billion in 2023 and is predicted to grow to around USD 45.29 billion by 2032.
The CAGR value of intelligent lighting controls market is expected to be around 15.00% during 2024-2032.
The global intelligent lighting controls market is expected to witness the highest growth in Asia-Pacific.
The global intelligent lighting controls market is led by players like Leviton, Synapse Wireless, Philips Lighting, Osram, Digital Lumens, Lutron Electronics, Helvar, Hubbell Lighting, Acuity Brands, Schneider Electric, Zumtobel Group, Cree Lighting, Signify (formerly known as Philips Lighting), Legrand and Eaton.
The report explores crucial aspects of the intelligent lighting controls market including detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.
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