Global Intelligent Lighting Controls Market Research 2017-2023 Global Intelligent Lighting Controls Market | Page 2

Global Intelligent Lighting Controls Market – Analysis and Forecast (2017-2023)
The future global economy is anticipated to consume more energy resources in the longer run,
especially with the growing energy demand from the developing countries such as China and
India. Lighting segment usually consumes majority of the electricity in a commercial building,
and draws substantial energy levels for a private residence. Intelligent lighting controls
continue to propel the lighting industry towards growth with increasing revenue at a global
level. Intelligent lighting controls witnessed a major increase in the adoption rate for the usage
in various applications due to several advancements offered by the technology.
The intelligent lighting controls market is expected to grow at a significant rate during the
forecast period. This is due to integration of physical security industry with intelligent lighting,
changing paradigm of lighting control industry to electronics industry and adding voice control
feature to the upcoming products. Increasing smart homes market along with customization
benefits and continuously decreasing average selling price (ASP) of LED bulbs and drivers
are some of the factors driving the growth of intelligent lighting control market. The global
intelligent lighting control market is estimated to witness a growth at a CAGR of 14.3% and
10.2% over the period 2017 to 2023 in terms of volume and value respectively.
North America led the global intelligent lighting controls market in 2016 in terms of volume
and value. Since energy performance contracts are becoming widespread in North America,
specific Energy Service Companies (ESCOs) have been developed in last few years to provide
wide-ranging energy services to the owners of buildings. The services offered in a form of
package, include equipment installations, technical evaluations, hazardous waste removal,
billing, financing, energy monitoring and verification services. The growth of North American
intelligent lighting control market is actively supported by the installation of new intelligent
lighting systems in the non-residential segment.
However, Asia Pacific is expected to grow with the highest rate during the forecast period and
surpass the market of Europe. This is mainly due to lower cost of consumer equipment in the
region. Additionally, the rising trend of smart homes in the region is also supporting the growth
of Asia Pacific intelligent lighting controls market. China has a high rate of consumption and
production of global lighting products. Within the lighting industry, intelligent lighting enterprises
are gradually on the path of expansion which is also attracting many foreign market players
for further investments. Additionally, growth of green lighting LED lamps is rising in the China
lighting industry.
The most often used strategy for developing a better hold on to the market has been through
product launches, followed by partnerships, joint ventures, and collaborations. Moreover, the
company profile section includes highlights of significant information about the key companies
involved along with their financial positions, key strategies, and developmental activities of
recent years. Some of the key players involved in this market are General Electric, Lutron
Electronics Co. Inc., Leviton Manufacturing Co. Inc., Honeywell International Inc., Acuity Brands
Inc., Cree Inc., Enlighted Inc., Daintree Networks, Koninklijke Philips N.V., OSRAM Licht AG,
Legrand, Hubbell Incorporated, LSI Industries Inc., Control4 Corporation, EATON, and Schneider
Electric.
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