Intelligent Illumination Control System Market REPORT OVERVIEW
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The global intelligent illumination control system market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.
The intelligent illumination control system is made up of a variety of parts, including sensors, ballasts and LED drivers, dimmers and switch actuators, microcontrollers, transmitters and receivers, and intelligent luminaries, according to a market analysis of the technology. Throughout the forecast period, it is anticipated that the ballasts and LED drives section will generate the most income. While the market for intelligent luminaries would expand quickly, Commercial buildings, residential structures, and public utilities are among the end customers of intelligent illumination control systems. The revenue from commercial buildings is a portion of the total market revenue. The section for commercial buildings consists of retail, hospitality, industrial, and other uses. Due to high electricity usage and a higher emphasis on energy management to save electricity costs, the adoption of intelligent illumination control systems market is strong in these industries.
COVID-19 Impact: A Different Set of Laws and Regulations to Support the Market Growth
Global supply chains have been significantly impacted by the COVID-19 epidemic. The global market did, however, see a slight drop, and future market growth is anticipated. The closure of factories making smart home equipment is blamed for a moderate reduction. The installation of intelligent lighting control systems in commercial and residential spaces, including smart homes, warehouses, and retail stores, has increased as a result of the increased use of connected devices in emerging nations. The Internet of Things (IoT) and connected devices are also being used more and more effectively in other nations. The intelligent illumination control system market has grown as a result of this reason.
LATEST TRENDS
"Increasing Preference for Energy-Efficient Lighting to Drive Market Development "
Modern smart and linked home systems and the growing use of the internet of things (IoT) are having an impact on intelligent illumination control systems, often known as smart connected lighting systems. Energy conservation or saving energy is one of the top global trends, and the adoption of smart connected device systems is expected to make a substantial contribution to the mission of energy conservation and saving energy. Facility managers are swiftly integrating intelligent illumination control systems in their businesses in order to meet these objectives. The use of building management systems in commercial buildings is also anticipated to expand, which will accelerate the expansion of the global market.
Intelligent Illumination Control System Market Segmentation
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- By Type Analysis
By type, the intelligent illumination control system market is segmented into indoor illumination and outdoor illumination.
The outdoor illumination type segment will dominate the intelligent illumination control system market in the coming years.
- By Application Analysis
Based on applications, the intelligent illumination control system market is commercial buildings, residential, public utilities.
The commercial buildings segment will lead the global share through 2031.
DRIVING FACTORS
"Initiatives to Build Smart Cities in Emerging Economies to Boost Product Demand "
The majority of emerging economies are refocusing on digital literacy and digitization. Most nations are actively building large-scale smart city initiatives as part of this digitization goal. One of the key components of smart city projects is the connected lighting system, which uses connected lighting and is simple for smart devices to regulate. Due to the increasing use of connected devices and smart city initiatives around the world, this trend is anticipated to continue during the projected period. The use of smart lighting and control systems in smart city initiatives is anticipated to fuel market expansion on a global scale.
"Expansion Outdoor Lighting Applications are Increasingly Using LED Lights and Luminaires "
Saving money and energy is one of the main arguments for adopting LEDs rather than conventional lighting. In outdoor lighting applications, LEDs are taking the place of traditional light sources like fluorescent, high-intensity discharge (HID), incandescent, and high-pressure sodium lamps. Applications for outdoor lighting are typically found in highways, streets, public spaces, and stadiums. The energy efficiency of LED lights and luminaries is higher than that of traditional lighting sources. As a result, using LED lights more frequently would result in lower energy usage and hence lower energy needs. These benefits have prompted construction companies building stadiums and motorways to use LED lighting systems.
RESTRAINING FACTORS
"High Lighting Controls System Startup and Implementation Costs to Limit Market Growth "
In the last few years, there has been a fast increase in popularity of intelligent illumination control systems. The initial cost of a single smart lighting and control system unit, however, is significantly greater than the price of existing retrofit switches. The high cost of the system's components, including the sensors, transmitters, and receivers, will directly affect the system's initial retail price. Also, it's not always feasible for residential consumers to install new smart lighting and control systems or replace outdated ones, which is predicted to damage the major industry.
Intelligent Illumination Control System Market REGIONAL INSIGHTS
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"North American to Grow at the Highest Intelligent Illumination Control System Market Share During the Forecast Period "
Energy-efficient lighting control solutions are being promoted in North America over conventional lighting control systems. Major lighting control system innovators and manufacturers may be found in North America, and their goods are widely used in commercial and industrial indoor lighting applications. The demand for intelligent illumination control systems from various industries and the presence of significant players and product makers of lighting control systems are what propel this nation's growth. The government's ongoing requirements and regulations regarding energy consumption are another major element propelling the market for intelligent illumination control systems.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- EATON (U.S.)
- Schneider Electric (U.S.)
- Hubbell Incorporated (U.S.)
- Legrand (France)
- General Electric (U.S.)
- Honeywell International Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- ABB (Switzerland)
- Leviton Manufacturing Co., Inc. (U.S.)
- Lutron Electronics Co., Inc. (U.S.)
- Enlighted Inc. (U.S.)
- Daintree Networks (U.S.)
- Acuity Brands, Inc. (U.S.)
- CONTROL4 CORPORATION (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services, or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes several other factors that have contributed to recent intelligent illumination control system market growth in some regions.
Frequently Asked Questions
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What are the key factors driving the intelligent illumination control system market?
Increasing preference for energy-efficient lighting is some of the driving factors of the intelligent illumination control system market.
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What is the leading region in the intelligent illumination control system market?
North America is the leading region for the intelligent illumination control system market.
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What are the key players in the intelligent illumination control system market?
OSRAM Licht AG, EATON, Cree, Inc., Schneider Electric, Hubbell Incorporated, Legrand, General Electric are some of the leading players in the intelligent illumination control system market.