Global Intelligent Lighting Control System Market is expected to reach US$ 14.32 Bn by 2026, at a CAGR of 16.2% during a forecast period. The global intelligent lighting control system market is segmented into component type, connectivity, and region. In terms of component type, the global intelligent lighting control system market is classified into sensors, ballasts and led drivers, microcontrollers, dimmers, and switches actuators, transmitters and receivers and intelligent luminaries. Based on connectivity, the global intelligent lighting control system market is categorized into wired and wireless. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The advantages provided by Intelligent lighting control system over the traditional switch operated lighting systems, it is more economical and energy efficient, it provides better experience to the users as compared to the traditional lighting system, other drivers include strong demand from the residential sectors, declining price of light emitting diode source of light gives increase to the adoption of intelligent lighting control system, also the government favorable policies to use LED lighting instead of other luminaries are driving the growth of global intelligent lighting control market. However, there are some factors which are responsible to hamper the growth of global intelligent lighting control market, one of them is the lack of knowledge regarding the installation cost of the whole intelligent lighting control system and a payback period of the same. The high initial cost of lighting control systems is a major barrier to their adoption. Thus, a reduction in prices will have a lasting impact on the market. On the basis of connectivity, wired lighting was the highest revenue-generating segment in 2017 and is anticipated to maintain this trend during the forecast period. Wireless connectivity is forecast to register important growth during the forecast period, owing to several features such as developed flexibility, better scalability, and ease-of-use. In terms of component, Ballasts & LED drives segment is forecast to garner the highest revenue though out the analysis period. Intelligent luminaries segment would rise rapidly, registering a prominent CAGR during the forecast period owing to ongoing research and low priced product launches for integrated luminaries. North America is the highest contributor in term of revenue in global intelligent lighting control market, and it is projected that the Asia Pacific is the fastest developing market for intelligent lighting control system provider across the globe during the forecast period. Some of the key players in the global intelligent lighting control system market are Honeywell International Inc., Philips Lighting, General Electric Company, Schneider Electric, Osram Gmbh, and Others.
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Scope of the Global Intelligent Lighting Control System Market Global Intelligent Lighting Control System Market by Component Type • Sensors • Ballasts and LED Drivers • Microcontrollers • Dimmers and Switches Actuators • Transmitters and Receivers • Intelligent Luminaries Global Intelligent Lighting Control System Market by Connectivity • Wired • Wireless Global Intelligent Lighting Control System Market by Geography • North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
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