PORTLAND, Oregon, January 14, 2016 /PRNewswire/ --
A new report by Allied Market Research titled, "World Intelligent Lighting Controls-Market Opportunities and Forecast, 2014-2020," forecasts that the world intelligent lighting controls market would generate revenue of $8.3 billion by 2020, registering a CAGR of 16.2% during the forecast period (2015-2020). Europe was the highest revenue-generating region in 2014 owing to the stringent government mandates and rising electricity costs in the region. However, Asia-Pacific region would witness an increased adoption of intelligent lighting control devices in future owing to the boom in commercial establishments such as retail, industries and hospitals. The region will surpass Europe in 2017, to emerge as the leading market.
To know more about the report, visit the website at https://www.alliedmarketresearch.com/intelligent-lighting-controls-market
The intelligent lighting controls comprise different components that include sensors, ballasts & LED drivers, dimmers & switch actuators, microcontrollers, transmitters & receivers and intelligent luminaries. Ballasts & LED drives segment is forecast to garner the highest revenue though out the analysis period. Intelligent luminaries segment would grow rapidly, registering a prominent CAGR during the forecast period owing to ongoing research and low priced product launches for integrated luminaries.
The end users of intelligent lighting controls include commercial buildings, residential buildings and public utilities. Commercial buildings constitute around 58% share of the overall market revenue. Commercial buildings segment comprises of retail, hospitality, industrial and others. The adoption of intelligent lighting controls systems is high in these sectors owing to high electricity consumption and greater focus on energy management.
Based on the connectivity type, the intelligent lighting controls market is segmented into wired and wireless type lighting controls. Wired type lighting was the highest revenue-generating segment in 2014 and is expected to maintain this trend during the forecast period (2015-2020). Wireless connectivity type is forecast to register significant growth during the forecast period, owing to various features such as improved flexibility, better scalability, and ease-of-use. The advent of new wireless & wired technologies, such as ZigBee and BACnet, would foster the growth of the market.
In 2014, European region was the leading revenue contributor in the world intelligent lighting controls market, followed by Asia-Pacific and North America, owing to stringent government regulations on energy management. The Asia-Pacific region would emerge as the largest market from 2017 onwards, owing to rising electricity costs and increasing awareness of energy and electricity demand management.
Key Findings of the Study
- The growth of world intelligent lighting controls market would be supplemented by the increasing demand from the retail, industries and public sectors
- Commercial buildings are the highest revenue-generating segment of the world intelligent lighting controls market
- Wireless intelligent lighting controls systems are expected to witness increased adoption during the forecast period owing to introduction of new technologies such as ZigBee and EnOcean
- Asia Pacific region would provide lucrative opportunities for the companies operating in the intelligent lighting controls market owing to increasing demand from retail and industrial sectors for energy management
The report highlights the competitive environment of the world intelligent lighting controls market and provides a comprehensive analysis of the major organic and inorganic strategies adopted by key market players. Several companies have adopted product launches and expansions as their key strategies to improve their market foothold and expand their product portfolio. The key companies profiled in the report include Schneider Electric SE, Honeywell International, Inc., General Electric Company, Koninklijke Philips N.V., OSRAM Licht AG, Acuity Brands Lighting, Inc., Legrand Group, Digital Lumens, Inc., Zumtobel Group AG and Lutron Electronics Co, Inc.
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