Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Lighting Control Components - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Lighting Control Components Market to Reach $11.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Lighting Control Components estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$11.8 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.
Corporate, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach US$4.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Retail segment is readjusted to a revised 10.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 12.8% CAGR
The Lighting Control Components market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2030 trailing a CAGR of 12.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.7% and 7.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2030.
Select Competitors (Total 232 Featured) -
- Acuity Brands Lighting Inc.
- Cree, Inc.
- Current, Powered by GE
- Eaton Corp.
- Fagerhults Belysning AB
- FW Thorpe Plc
- Hubbell Control Solutions (HCS)
- Legrand S.A.
- Leviton Manufacturing Co., Inc.
- LG Innotek
- Lutron Electronics, Inc.
- Osram GmbH
- Panasonic Corp.
- Schneider Electric SA
- TCP International Holdings Ltd.
- Theben AG
- Zumtobel Group AG
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 288 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.8 Billion |
| Forecasted Market Value (USD) by 2030 | $11.8 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Lighting Controls: Delivering Energy Efficiency, Space Efficiency, and Personal Efficiency through Sensing, Prediction, and Control
- Major Drivers and Trends in a Nutshell
- Recent Market Activity
- Advancements in Connected, Embedded, and Sustainable Lighting: Foundation for Market Growth
- Connected Lighting
- Embedded Lighting
- Sustainable Lighting
- The Global Lighting Controls Market Evolve with the Transforming Lighting Industry
- Major Lighting Technology Trends Summarized
- Myriad Benefits Drive Widespread Adoption across the World
- Increased Energy Savings
- Adequate Lighting for Increased Comfort
- Automatic Functionality
- Superior Quality Illumination & Extended Life
- Increased Flexibility and Freedom
- Push Button Devices and Pre-Programmed Settings
- Important Add-on to Building Security Systems
- Global Market Outlook
- Developing Asian Countries Offer Significant Market Growth Opportunities
- Lighting Control Components - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
- Acuity Brands, Inc. (USA)
- Acuity Controls (USA)
- Distech Controls (Canada)
- Cree, Inc. (USA)
- Current, Powered by GE (USA)
- Daintree Networks, Inc. (USA)
- Eaton Corp. (USA)
- Cooper Industries Plc. (Ireland)
- Fagerhults Belysning AB (Sweden)
- FW Thorpe Plc (UK)
- Hubbell Control Solutions (HCS) (USA)
- Legrand S.A. (France)
- WattStopper, Inc. (USA)
- Leviton Manufacturing Co., Inc. (USA)
- LG Innotek (South Korea)
- Lutron Electronics, Inc. (USA)
- Osram GmbH (Germany)
- Panasonic Corporation (Japan)
- Douglas Lighting Controls (Canada)
- Universal Lighting Technologies, Inc. (USA)
- Philips Lighting North America Corporation (USA)
- Philips Color Kinetics (USA)
- Strand Lighting (USA)
- Schneider Electric SA (France)
- TCP International Holdings Ltd. (Switzerland)
- Theben AG (Germany)
- Zumtobel Group AG (Austria)
- Thorn Licht GmbH (Germany)
- Tridonic GmbH & Co KG (Austria)
3. MARKET TRENDS & DRIVERS
- Growing Prominence of Smart Lighting Drive Strong Demand for Intelligent Lighting Controls
- Surging Demand for Smart Lighting Control Systems
- Smart Lighting Tracks Offer Secure, Productive and Healthier Lighting
- Myriad Benefits of Smart Lighting Controls
- Opportunities and Challenges
- Huge Potential Offered by the Internet of Things (IoT) Technology Benefit Market Expansion
- The IoT's Architecture
- IoT for Building Automation
- Other Prominent Application Areas of IoT
- Key Barriers to IoT Adoption
- Rapid LED Lighting Penetration and Advanced Lighting Controls Drive Growth of "Lighting as a Service" (LaaS)
- Key Factors Benefiting Growth of LaaS
- Smart Homes and Smart Cities Create Enormous Demand for Smart and Wireless Lighting Control Solutions
- Rising Popularity of Home Automation Boosts Market Demand
- Smart and Connected Homes Drive Demand for "Wireless" Controls
- Cloud-based Lighting Controls to Gain Traction
- Robust Demand from the Residential Sector Lends Traction to Market Growth
- Classification of Residential Lighting Control Systems
- Advantages of Residential Lighting Controls
- Major Trends in Residential Lighting Controls Segment
- Private Buildings: An Underserved Market Segment
- Evolution of Indoor Lighting Controls over the Years
- Lighting Control Systems: Why and Where to Use in Residential Applications
- Common Hindrances in the Selection of Residential Lighting Controls
- Corporate Applications to Retain Market Dominance in Lighting Controls
- Digital Lighting Control Technology Transform Commercial Buildings Sector
- Street Lighting Management: A Potential Laden Application
- Dimmable Smart Street Lights for Reducing Power Consumption and Emissions
- Energy-Efficiency Spurs Market Penetration in the Retail Sector
- Recovery in Construction Activity Worldwide Augurs Well for Lighting Controls Demand
- Major Trends Driving Future Adoption in New Construction and Retrofits
- Lighting Spectrum Control Causes Positive Impact on Humans and Productivity, Bodes Well for Market Adoption
- Horticulture Sector Set to Benefit from Tuning Capability of Modern Lighting Controls
- Lighting Spectrum Control Proves Beneficial for Livestock Production
- Mandated Energy Codes, Utility Rebates and Energy Savings to Drive Lighting Controls Sales
- Building Codes Update Regularly for Improved Energy Efficiency
- International Building Codes Overview
- Key Factors Hampering Market Adoption
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/uuuq6l
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