Brooklyn, NY -- (SBWIRE) -- 03/14/2018 -- The global market for smart lighting and control systems is primarily driven by the need to deploy energy-efficient systems across residential, commercial, and industrial sectors. Smart lighting and control systems offer dual benefits by saving a substantial amount of energy and providing automated control solutions. The energy-saving feature of these systems does not restrict their power of luminance, and the users can adjust lighting according to their needs. A number of initiatives have been taken by national governments to inculcate smart lighting and control systems within the framework of industrial and residential units. The dearth of natural resources couple with the rising energy needs has been at the forefront of market growth. A report by QY Research Reports portrays several key standpoints that contribute to the growth of the global smart lighting and control systems market. The report titled 'Global Smart Lighting and Control Systems Market Size, Status and Forecast 2025' has employed pragmatic methodologies to decrypt key indicators of market growth. In order to quantify the market, the report encapsulates figures such as market value, regional market share, and growth rate.
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A sense of awakening towards energy conservation across the world forms the crux of market growth. Energy deficits have led international and national bodies for environmental conservation to launch several awareness campaigns to educate people about the need to conserve energy. The positive effects of such initiatives have trickled down to several industries including the power and electricity sector. The popularity of Internet of Things (IoT) has led people towards integrating their smartphones to lighting systems. This has given a strong impetus to market growth while creating growth spaces for market players. Moreover, automation has become the watchword across households, offices, and other units, which has directly influenced demand within the global market. Governments across the globe are making efforts to substantiate the energy conservation domain within their territory. Since, lighting consumes a substantial share of the total energy base of an economy, the efforts of the governments are expected to multiply in the future.
Despite the pros of smart lighting and control systems, the market is not free of hindrances. The high costs associated with the installation of smart lighting systems has discouraged a number of residential and commercial units from installing these systems. The emerging economies have especially been apprehensive of spending huge sums of money on deploying these systems. This deprives the market of a huge consumer base and restricts affluent market growth. Nevertheless, the efforts of international bodies in persuading national governments to install these systems is expected to bolster demand.
Geographically, the global market for smart lighting systems can be segmented into Southeast Asia, Japan, India, China, United States, and EU. The market is expected to be dominated by U.S. on account of the commendable efforts of regional government bodies to curb energy-wastage. Furthermore, emerging economies such as India and China also offer lucrative growth opportunities in the coming years. This owes to the commencement of several schemes and policies at aimed strengthening the energy-conservation domain of these countries.
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The market players are expected to bank on their ability to introduce novel products that fit into the needs of the customers. Research and development activities conducted by the leading players are projected to amplify in the coming times. Some of the key players include Honeywell International, Eaton Corporation, Lutron Electronics, Acuity Brands, and Elgato Systems.
Table of Contents
Global Smart Lighting and Control Systems Market Size, Status and Forecast 2025
1 Industry Overview of Smart Lighting and Control Systems
1.1 Smart Lighting and Control Systems Market Overview
1.1.1 Smart Lighting and Control Systems Product Scope
1.1.2 Market Status and Outlook
1.2 Global Smart Lighting and Control Systems Market Size and Analysis by Regions (2013-2018)
1.2.1 United States
1.2.6 Southeast Asia
2 Global Smart Lighting and Control Systems Competition Analysis by Players
2.1 Smart Lighting and Control Systems Market Size (Value) by Players (2013-2018)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 Eaton CorporationThe U.S)
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Smart Lighting and Control Systems Revenue (Million USD) (2013-2018)
3.1.5 Recent Developments
3.2 Acuity BrandsThe U.S
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
4 Global Smart Lighting and Control Systems Market Size by Type and Application (2013-2018)
4.1 Global Smart Lighting and Control Systems Market Size by Type (2013-2018)
4.2 Global Smart Lighting and Control Systems Market Size by Application (2013-2018)
4.3 Potential Application of Smart Lighting and Control Systems in Future
4.4 Top Consumer/End Users of Smart Lighting and Control Systems
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