Intelligent Lighting Controls Market size is expected to observe promising growth between 2021 and 2027 due to the mounting consumer awareness on energy management coupled with the growing government focus on effective electricity consumption. The rising incorporation of smart technologies has paved the way for higher R&D investments for infrastructure development. The increasing need for cost-effective and energy-saving solutions has prompted the optimum utility of OLED lighting. Furthermore, the spike in the number of smart city projects across developing economies will positively influence the progression of the market.
The ballasts & LED drivers will grow through 2027 ascribing to their increasing adoption in professional buildings to offer energy management and lighting maintenance. The rising number of experimental research activities in electronic ballasts has resulted in higher usage to meet the personal lighting control requirements. The ease of availability of a diverse range of LEDs will act as a promising trend for the market expansion.
The wireless intelligent lighting controls market will account for a substantial revenue share led by the growing penetration in indoor and outdoor architectural lighting. On account of its affordability over retrofitting of wired systems, wireless lighting is largely preferred for remodeling projects. Rising obligation to limit the instances of cutting open the walls for wireless dimmers, cable running, switches, and keypads is another factor fostering the market dynamics.
The demand for intelligent lighting controls across smart cities is set to attain strong impetus owing to the mount in the number of smart buildings. The product penetration has increased across electric vehicle charging stations, good traffic lights, and intelligent parking. The higher costs of smart buildings & homes, as well as automotive spaces, have led to fluctuating electricity costs. The growing need for effective utilization of energy sources coupled with the rise in the installation of plug-and-play installation systems will favor the market growth.
North America intelligent lighting controls market is poised to notice appreciable momentum impelled by the growing number of government-mandated regulations. The rising concerns over limiting the instances of CO2 emissions have led to the higher obligation for effective electricity usage. In addition, the surge in energy performance contracts coupled with the incessant need for diverse energy services in buildings in the region will enhance the market outlook.
Hubbell Incorporated, Lutron Electronics Co., Inc., Honeywell International Inc., Philips Lighting, Schneider Electric, OSRAM Licht AG (ams), Control4 Corporation (Wirepath Home Systems, LLC), Leviton Manufacturing Co. Inc., Acuity Brands Inc., LSI Industries Inc., Enlighted Inc., EATON, General Electric, and Cree Inc. are some of the global intelligent lighting controls market players.
Technological innovations, strategic partnerships like acquisitions, investments, new product launches, as well as capacity expansions are some prominent measures employed by these firms to intensify their market position.
For instance, in March 2021, Hubbell Control Solutions introduced NX Distributed Intelligence™, its novel, and improved Lighting Control Panel. The novelty centralizes the connection points in an enclosure and offers installer-friendly solutions.
In another instance, Smartlabs, in July 2021, partnered with Nokia to launch a suite of IoT-powered lighting as well as electrical control products, called Nokia Smart Lighting to offer easy-to-install and intuitive-to-use solutions.
COVID-19 outbreak and its effect on intelligent lighting controls market outlook
The COVID-19 pandemic called for backtracking impacts on the global economy considering the emergence of nationwide lockdowns and the containment drives, subsequently leading to multiple trade restrictions. However, it brought positive prospects for the adoption of intelligent lighting controls given the thriving need for automation of lights across both commercial and residential spaces to keep up with the contactless and social distancing norms.
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