The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Lighting Control System Global Market Report 2023, The global lighting control system market is expected to grow from $30.82 billion in 2022 to $36.56 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The lighting control system market is expected to reach $70.63 billion in 2027 at a CAGR of 17.9%.

North America held the largest lighting control system market share, and Asia-Pacific was the fastest-growing region in 2022.

Lighting Control System Market Driver
Growing commercial and non-commercial buildings are expected to propel the growth of the lighting control system market going forward. A commercial building refers to any non-residential structure that is not agricultural, industrial, or institutional. A non-commercial building is any structure or building not used for a commercial enterprise or as a residential residence. Using lighting control systems like dimmers and color-changing bulbs offers a clever approach to incorporating networked controls inside offices, commercial buildings, and non-commercial buildings. For instance, in September 2022, according to the University of Michigan’s Center for Sustainable Systems, a US-based organization that develops systems analysis techniques, models, and indicators for developing sustainable futures, in the US commercial building floor space is anticipated to expand by 35% from 2021 and expected to reach 124.6 billion square feet by 2050. In addition, the average size of US homes expanded by 45% in 2021, from 2,185 to 2,565 square feet. Therefore, growing commercial and non-commercial buildings are driving the growth of the lighting control system market.

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Key Lighting Control System Market Segments
The global lighting control system market is segmented –

1) By Installation Type: New Installation, Retrofit

2) By Offering: Hardware, Software, Services

3) By Communication Protocol: Wired, Wireless

4) By End-Use: Indoor, Outdoor

Lighting Control System Market Prominent Players
Major players in the lighting control system market are General Electric Co., Taiwan Semiconductor Manufacturing Company Limited, Panasonic Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Eaton Corporation plc, Infineon Technologies AG, Legrand SA, Signify NV, Hubbell Incorporated, Acuity Brands Inc., OSRAM GmbH, WAGO Corporation, Leviton Manufacturing Company Inc., Zumtobel Group AG, Wolfspeed Inc., Ideal Industries Inc., GE Current, Lutron Electronics Co. Inc., Inventronics Inc., RAB Lighting Inc., Toshiba Lighting & Technology Corporation, Helvar Ltd., Synapse Wireless, and Digital Lumens Inc.

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Prominent Lighting Control System Market Trend

Advancements in technology are a key trend gaining popularity in the lighting control system market. Major companies operating in the lighting control system market are using advanced technologies to sustain their position in the market. For instance, in August 2021, Intermatic Incorporated, a US-based appliance, electrical, and electronics manufacturing company, launched the new ARISTATM Advanced Lighting Control System, a programmable smart lighting solution for up to 10,000 ft2 of commercial and public facilities. Users can adapt ARISTA to their project requirements using a range of modular components, and installation challenges are eliminated by deliberate design choices like battery-powered sensors and secure Bluetooth 5.0 mesh networking technologies.

The Lighting Control System Global Market Report 2023  provides comprehensive insights on the lighting control system market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the lighting control system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

System Integrator Global Market Report 2023

Control Valve Global Market Report 2023

Specialty Lighting Global Market Report 2023

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