The global light controls market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are increasing advantages of energy-efficient light bulbs, such as Light Emitting Diode (LED) lights, High Intensity Discharge (HID) lamps, and Compact Fluorescent Lights (CFL) over standard light bulbs in terms of power usage and light life.
Intelligent lighting technology has significantly altered the overall lighting sector in terms of energy and cost savings, as well as better user safety and convenience. Furthermore, light controls are gaining traction and are projected to expand significantly in the near future.
Major Companies Profiled In The Report:
- Acuity Brands|•General Electric Company (GE)|•Echelon|•Eaton|•Legrand|•OSRAM Licht|•Digital Lumens|•Lutron Electronics|•Leviton Manufacturing|•CREE|•Lightwave PLC|•Philips Lighting
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Opportunities For Players Operating In The Global Light Controls Market:
The global light controls market is projected to expand rapidly during the forecast period. New installations are expected to boost market growth. Increasing efforts to develop infrastructure-related works, primarily in buildings used for residential and commercial purposes is likely to create new opportunities for key market players. Besides, demand for wireless communication technologies is expected to rise as wireless technologies for light controls are constantly under innovation.
Asia-Pacific Continues To Lead In Terms Of Revenue CAGR:
In the light controls market, Asia-Pacific is dominated by China, South Korea, Japan, and India. This is primarily due to low consumer equipment costs present in these countries. Furthermore, the Asia Pacific light controls market is set to be benefiting from growing trend of smart homes in the region. China has a high rate of global lighting product consumption and production. Several intelligent lighting enterprises in this region are also gradually expanding within the lighting industry, thereby luring many international market players for capital revenue. Besides, use of green lighting LED lamps is increasing in China\'s lighting industry. These factors are expected to boost the Asia Pacific light controls market in the near future.
Major Companies Profiled In The Report:
- Acuity Brands
- General Electric Company (GE)
- OSRAM Licht
- Digital Lumens
- Lutron Electronics
- Leviton Manufacturing
- Lightwave PLC
- Philips Lighting
Strategies And Objectives Of Major Companies:
- Honeywell introduced a new range of resource management solutions, smart lighting, voice controls, and secure cloud communication solutions in June 2018. For international hotel and building automation, the hospitality industry may fully integrate energy management, safety and security systems, property management, and brand network operations using these technologies.
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