Global Intelligent Lighting Control Market Analysis 2023-2031: High Demand for Energy-Efficient Lighting Solutions Propels Growth

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Jul 26, 2023, 06:45 ET

DUBLIN, July 26, 2023 /PRNewswire/ -- The "Intelligent Lighting Control Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2031 Segmented By Light Source (Light Emitting Diode, Fluorescent Lamp, Discharge Lamps, High Intensity), By Application, By Type, By Connectivity, By Region" report has been added to ResearchAndMarkets.com's offering.

Global Intelligent Lighting Control Market was valued at USD 12.16 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 23.64% through 2031.

Intelligent lighting control systems have emerged as a key component of smart lighting solutions, offering the ability to adjust and optimize lighting levels, types, and properties in various spaces. With a focus on energy efficiency and reducing electricity wastage, these smart devices play a crucial role in promoting sustainable practices.

The heart of such systems lies in the intelligent module, which acts as the execution unit and control terminal, seamlessly integrating with the background intelligent central control system. As developing economies prioritize digital awareness and embrace smart city initiatives, the demand for smart lighting-linked devices is on the rise.

As a crucial element in smart city projects, the market for intelligent lighting control is expected to witness significant growth in the forecast period, driven by the increasing adoption of smart devices by consumers worldwide.

High Demand for Energy-Efficient Lighting Solutions

Considering there is a significant need for energy-efficient lighting solutions, the Intelligent Lighting Control Market is predicted to rise at a promising rate in 2023-2031. The importance of energy management in terms of reducing carbon footprints is becoming more and more apparent to consumers. Governments are also putting more effort into coming up with new ways to reduce power consumption.

For instance, the United States government officially confirmed the commencement of the Climate Smart Buildings Initiative in August 2022, with the goal of modernizing the country's public infrastructure and lowering GHG emissions by 2.8 million metric tonnes per year, by 2030.

Increasing R&D Spending for Infrastructure Development

R&D expenditures for infrastructure development have significantly increased as a result of the adoption of smart technology in public lighting systems. For instance, the U.K. Government for Business, Energy & Industrial Strategy (BEIS) allocated money to U.K. Research & Innovation (UKRI) in March 2022, totaling more than USD 30.3 billion to support multiple R&D initiatives.

Additionally, end-users need for cost-effective and energy-saving solutions is expanding, due to which the demand for Organic Light Emitting Diodes (OLED) lighting is developing significantly. Thus, the market is likely to expand with a high CAGR in the upcoming years.

Rising Adoption of LED Lighting & Bulbs Across the World

One of the key elements affecting the growth of the global market for intelligent lighting controls is the rising adoption of LED bulbs and lights globally. According to an Electric Lamp and Component Manufacturers (ELCOMA) report, the lighting industry was expected to introduce more energy-efficient products and work more closely with the government to implement various schemes and awareness programs in 2020, which helped in reducing lighting energy consumption from 18% of total power consumption to 13%.

The market is predicted to develop with a high CAGR in 2023-2031 as a result of India's positive transition from conventional lighting to LED and energy-efficient smart lights.

Adoption of ZigBee and Bluetooth in Smart Lighting Control Systems

Greater connectivity and technology improvements have raised the popularity of smart lighting control systems globally. ZigBee and Bluetooth, two wireless technologies, have made it easier to implement smart lighting control systems in a variety of places. It is computed particularly for wireless personal area networks (WPANs) that adhere to the IEEE (Institute of Electric and Electronics Engineers) standard for control and sensor networks.

The operating frequencies for these Zigbee WPANs are 868 MHz, 902-928 MHz, and 2.4 GHz. The ideal data rate is 250 kbps, which is used for periodic and intermediate two-way data transfer between sensors and controllers. For instance, according to a declaration made in April 2018 by the Council of Australian Government Energy Ministers, halogen lighting is expected to be replaced by LED bulbs in order to increase energy efficiency. According to estimates, this choice saves customers and businesses over USD 1 billion in electricity costs and light bulb replacement costs.

Furthermore, the Smart Dubai Plan 2021's objective of making Dubai a paperless government has spurred the country to adopt smart services. It is an important aspect of the growth of the smart city. Therefore, the emergence of smart cities and smart infrastructure globally assists the penetration of intelligent lighting controls.

Challenges: High Installation Cost of Intelligent Lighting Controls System

The high startup and implementation costs of lighting control systems are anticipated to restrict market growth. Also, the system's expensive sensors, transmitters, and receivers will directly affect the initial selling price of the entire system. The usual payback period for implementing intelligent lighting controls may be between two and three years, depending on the kind of system.

However, compared to the price of traditional retrofit switches, the initial cost of a single unit of the smart lighting and control system is significantly higher. This factor is constraining the market expansion in the upcoming years.

Impact of COVID: Booming Demand for Residential & Medical Sector

Due to people remaining at home and companies adopting a work-from-home culture, the need for intelligent lighting controls in the residential sector was not significantly impacted. Similarly, as demand for medical services increased during the pandemic, the medical sectors saw growth.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Intelligent Lighting Control market.

Acuity Brands Inc.
Legrand SA
Signify N.V
Siemens AG
Honeywell International Inc.
Cisco Systems, Inc.
Eaton Corporation plc
Panasonic Corporation
OSRAM Licht AG
Leviton Manufacturing Company Inc.
Savant Systems Inc.

Report Scope:

Global Intelligent Lighting Control Market, By Light Source:

Light Emitting Diode
Fluorescent Lamp
Discharge Lamps
High Intensity

Global Intelligent Lighting Control Market, By Application:

Industrial
Residential
Commercial
Infrastructure

Global Intelligent Lighting Control Market, By Type:

LED Drivers
Switch Actuators
Sensors
Microcontrollers
Transmitters & Receivers
Dimmers
Others

Global Intelligent Lighting Control Market, By Connectivity:

Wired
Wireless

Global Intelligent Lighting Control Market, By Region:

Asia-Pacific
Europe
North America
Middle East & Africa
South America

For more information about this report visit https://www.researchandmarkets.com/r/z6davv

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