Intelligent Lighting Controls Market to Reach $26.06 Bn, Globally, by 2027 at 17.4% CAGR: Allied Market Research
According to the report, the global intelligent lighting controls industry was estimated at $7.49 billion in 2019, and is expected to hit $26.06 billionby 2027, registering a CAGR of 17.4%from 2020 to 2027.
Increasing penetration of LED bulbs and lightings globally and rise in government initiatives toward energy saving measures fuel the growth of the global intelligent lighting controls market
PORTLAND, Oregon, June 23, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Intelligent Lighting Controls Market by Type (Sensors, Ballasts & LED Drivers, Microcontrollers, Dimmers & Switch Actuators, Transmitters & Receivers, and Others),Connectivity Type (Wired and Wireless),and Application (Smart Cities, Automotive, Manufacturing, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global intelligent lighting controls industry was estimated at $7.49 billion in 2019, and is expected to hit $26.06 billion by 2027, registering a CAGR of 17.4% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in penetration of LED bulbs and lightings globally and rise in government initiatives toward energy saving measures fuel the growth of the global intelligent lighting controls market. On the other hand, high initial installation cost impedes the growth to some extent. However, emerging smart city projects in developing economies and growing inclination toward energy-efficient lighting solutions are expected to create multiple opportunities in the industry.
Get Instant Access to Report (328 Pages - PDF): https://www.alliedmarketresearch.com/request-sample/765
COVID-19 scenario-
- The outbreak of the pandemic has impacted the global intelligent lighting controls market badly. The global lockdown has led to significant decline in the demand for lighting strictures among the end-users.
- Many companies are reporting difficulties in obtaining raw materials due to a number of reasons such as late deliveries and shortage of shipping capacity. However, with several government bodies imposing relaxations on the existing regulations, the market is expected to gradually recoup its position in terms of revenue.
The sensors segment to lead the trail by 2027-
Based on type, the sensors segment contributed to around one-fifth of the global intelligent lighting controls market revenue in 2019, and is expected to lead the trail by the end of 2027. The same segment is also projected to register the fastest CAGR of 20.4% during the estimated period. Rapid development of smart sensors fuels the growth of the segment.
Enquire For Discount: https://www.alliedmarketresearch.com/purchase-enquiry/765
The wired segment to maintain the lion's share-
Based on connectivity type, the wired segment accounted for around three-fourths of the global intelligent lighting controls market share in 2019, and is anticipated to rule the roost throughout the forecast period. This is attributed to its simple installation feature. Simultaneously, the wireless segment would portray the fastest CAGR of 18.9% till 2027. This is due to growing preference toward IoT.
North America to dominate in terms of revenue-
Based on geography, North America held the major share in 2019, generating more than one-third of the global intelligent lighting controls market, owing to growing concern toward energy consumption among people in the province. The Asia-Pacific region, on the other hand, would grow at the fastest CAGR of 20.5% from 2020 to 2027. Increase in trend toward smart infrastructure development drives the market growth in Asia-Pacific.
Get a Customized Report: https://www.alliedmarketresearch.com/request-for-customization/765
Key players in the industry-
- Cisco
- Cree, Inc.
- Eaton
- Acuity Brands
- OSRAM
- Panasonic Corporation
- Honeywell
- Philips
- Siemens
- GE Lighting
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports:
Organic LED Market Size to Grow 203.07 Billion by 2026: 21.7% CAGR
Global UV LED Market Expected to Reach $1.2 Billion by 2026
HB-LED Market to Reach $29 Billion Globally, by 2022
Global Outdoor LED Display Market Expected to Reach $14 Billion by 2023
Global Micro-LED Display Market Expected to Reach $1,945.6 Million, Globally, by 2025
LED Market Expected to Reach $96.71 Billion, Globally, by 2024
Industrial And Commercial Led Lighting Market Outlook - 2025
Pre-Book Now with 10% Discount:
LED Materials Market Trends by 2030 - Global Opportunities
LED driver Market Trends by 2030 - Global Opportunities
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
