New York, US, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Power over Ethernet Lighting Market information by Offering, by Wattage, by Application and Region – forecast to 2027” market size to reach USD 1,157 Million, growing at a compound annual growth rate of 29.7% by 2027.
Market Scope:
The rise in smart homes and smart buildings has increased the usage of power over ethernet as this covers the data infrastructure along with power connection and lighting to smart devices. Hence several developments related to power over ethernet based LED lighting will offer robust opportunities for the market over the forecast period.
Dominant Key Players on Power over Ethernet Lighting Market Covered are:
- Cisco Systems (US)
- Signify Holding (Netherland)
- Hubbell Inc. (US)
- H.E. Williams (US)
- Herbert Waldmann GmbH & Co. Kg (Germany)
- Siemon (US)
- Ubiquiti Networks Inc. (US)
- Prolojik (UK)
- Silvertel (UK)
- ALLNet GmbH (Germany)
- Wipro Lighting (India)
- Axis Lighting (Canada)
- Ideal Industries (US)
- NETGEAR (US)
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Market USP Exclusively Encompassed:
POE Lighting Market Drivers
Growing Need for Electric Points to Boost Market Growth
The growing need for electric points for smart sensors and devices which can be integrated on networks at any location will boost market growth over the forecast period.
High Initial Costs to act as Market Restraint
The high initial costs of power over ethernet accessories and equipment coupled with growing need for additional equipment may act as market restraint over the forecast period.
Disruption in PoE Lighting Supply to act as Market Challenge
The disruption in power over ethernet lighting supply chain owing to COVID-19 pandemic may act as market challenge over the forecast period.
Browse In-depth Market Research Report (100 Pages) on Power over Ethernet Lighting Market:
https://www.marketresearchfuture.com/reports/power-over-ethernet-lighting-market-10742
Segmentation of Market Covered in the Research:
The global power over ethernet lighting market has been bifurcated based on application, wattage, and offering.
By offering, the hardware segment will lead the market over the forecast period at a high CAGR.
By wattage, the above 25-watt segment will dominate the market over the forecast period.
By application, the commercial segment will spearhead the market over the forecast period.
Regional Analysis
APAC to Lead Power over Ethernet Lighting Market
The APAC region will lead the power over ethernet lighting market over the forecast period. The availability of cost-effective land to set up manufacturing plants and new commercial construction, continued growth in industrial and commercial buildings along with smart offices, the presence of several lighting manufacturers, growing adoption in China, the country specializing in lighting equipment manufacture and embracing technology, rapid growth in South Korea, India, Japan, and China, and Chinese cities offering investments in industrial growth by offering a large workforce, good infrastructure, and low-cost land are adding to the global power over ethernet lighting market growth in the region. Besides, the rapidly changing face of technology, advances in technology, emergence of new business models, new constructions in developing cities, growth in end-use sectors, and mounting investments from government bodies are also adding market growth.
North America to Have Favorable Growth in Power over Ethernet Lighting Market
North America will have favorable growth in the global power over ethernet lighting market over the forecast period. Mexico, Canada, & the US are the major growth engines. The strong presence of technology, the fast adoption of core technologies that help in enhancing light quality as well as overall efficiency, lower power consumption, and increase in overall efficiency, growing need for access control applications and security in smart cities & smart buildings applications are adding to the global power over ethernet lighting market growth in the region.
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COVID-19 Impact on the Global Power over Ethernet Lighting Market
The COVID-19 outbreak has resulted in the partial shutdown or closure of businesses, factories, and institutes across the globe. This had been complemented via the implementation of government imposed lockdowns and other lockdown measures like restricted travel, tight social distancing norms, and limited entry to malls, cinema halls, theme parks, restaurants, and public spaces. Most industries globally witnessed disruptions in logistics related services and supply chain operations. Limited corporate and consumer spending, supply chain disruptions, and lockdown measures have affected the PoE lighting market growth. The outbreak has compelled governments across the globe in shifting their focus and investing in the healthcare sector. The need from end users too declined during 2020.
Industry Updates
SAP Labs India has recently launched the first-ever hybrid office in India. Their redesigned spaces work on the power generated from onsite solar power grids and power over ethernet lighting systems. The aim of the company is in redefining their workspace model for delivering an employee-centered experience and focusing on sustainability.
Competitive Analysis:
The global power over ethernet lighting market is both fragmented & also competitive for the presence of numerous international and also domestic industry players. Such key players have incorporated various innovative strategies for remaining at the vanguard and also catering to the burgeoning need of the esteemed clients including, partnerships, contracts, collaborations, new product launches, geographic expansions, joint ventures, and more. Besides, they are also investing in numerous research & development activities.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
