Lighting Control System Market Report: Global Forecast to 2023
July 5, 2017
High requirement of energy-efficient lighting control systems, increasing adoption of Internet of Things (IoT) in lighting industry, acceptance of standard protocols for lighting control, and modernization and infrastructure development are the major drivers for the lighting control system.
According to the global experts, the lighting control system market, is expected to grow from USD 12.22 Billion in 2016 to USD 38.67 Billion by 2023, at a CAGR of 17.82% between 2017 and 2023.
This latest analysis covered the topic, “Lighting Control System Market by Installation Type (New Installation and Retrofit), Offering (Hardware, Software, and Lighting as a Service), Application (Indoor and Outdoor), Communication Protocol, and Geography – Global Forecast to 2023”
The lighting control system market based on offering is dominated by hardware components. The hardware components in lighting products are LED drivers and ballasts, sensors, switches, dimmers, relay units, and gateways. LED drivers and ballasts components held a major share of the market for hardware components.
The lighting control system market for the wireless communication protocol is expected to grow at a high rate between 2017 and 2023. ZigBee is expected to dominate the wireless communication protocol market for lighting control systems during the forecast period.
Increasing focus on enhancing connectivity by building roads and road lights, especially in the developing countries of the APAC region, would spur the growth of the outdoor lighting control system market.
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