$35 Billion Intelligent Lighting Controls Market, 2023 - Research and Markets

DUBLIN, May 29, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Intelligent Lighting Controls Market - Analysis and Forecast (2017-2023) (Focus on Component Type, Connection Type, Application and Light Source)" report to their offering.

The intelligent lighting controls market is estimated to reach $36 billion by 2023 at a CAGR of 10.2% through the forecast period

Intelligent lighting controls witnessed a major increase in the adoption rate for the usage in various applications due to several advancements offered by the technology. Increasing smart homes market along with customization benefits and continuously decreasing average selling price (ASP) of LED bulbs and drivers are some of the factors driving the growth of intelligent lighting control market. The changing paradigm of lighting industry to electronics industry is one of the major opportunities for the growth of the intelligent lighting controls market. With the arrival of smart technologies in the lighting industry, various gateways have opened for the companies of several industry verticals, such as control systems, dimmers, and software based solutions, and sensors. The scenario of lighting industry has been completely transformed with the establishment of modern technologies.

In terms of revenue, the sensors segment holds the major share of 47% in the global intelligent lighting controls market in 2016; whereas microprocessors and microcontrollers segment is expected to increase with the highest CAGR in the coming years. The main sensors used in intelligent lighting industry are ambient light sensors, proximity sensors, occupancy sensors, photo sensors, and daylight sensors. Some companies are moving towards intelligent lighting controls with the use of gesture detecting sensors for gesture controls.

General Electric Company provides occupancy sensors with three different technologies so that the users can use the sensors as an appropriate solution for their space. Intensity of activity occurring in the required space and the design of the room determine the level of sensitivity required by the user within the sensor. The technologies include Passive Infrared (PIR), ultrasonic and dual tech.

Among both the connection types used in intelligent lighting controls market, wired connection type holds higher market share of 53.1% in 2016 in terms of value. Wired technology has been more prevalent but with the recent development in RF technologies there's an increase in the number of wireless installations worldwide. Wired technology based intelligent lighting systems can provide better control and flexibility with the use of additional electronics, which in turn, increase the cost of the overall installation.