Lighting Control Market to Reach $110 Billion by 2026
Intelligent lighting control system is a lighting system that controls all lighting controls and the inputs and the outputs of the lighting controls from one central place, platform. According to a report on luminaire and lighting control published by Transparency Market Research, the lighting control system market is predicted to reach $110 billion by 2026. In addition, the report states that the global market will boost in the coming years due to different factors that we will clarify.
It is worth mentioning that the growth of lighting control system depends on the growth of other markets since lighting controls market depends at first on light market including: LED, halogen, fluorescent, HID, and etc. LED market is expected to grow and reach $54.28 billion by 2022. The market depends also on wired and wireless market and hardware, software, and service markets.
So the lighting control industry is going to grow and reach $110 billion by 2026; there are a lot of factors that are playing a key role in that expected growth. These factors are:
The need for energy-efficient light models:
Because intelligent lighting control system saves energy, the demands on it increases. Companies and individuals from all over the world are searching for more energy-efficient light items and systems, so they are adopting intelligent lighting controls system. The report highlights the fact that the increase of living standards of communities, especially urban ones is one of the reasons here.
The increase use of greener technologies:
Governments are shifting to use greener technologies instead of ones produce carbon emissions. In this regard, these governments have put some limits including: more import tariffs on ordinary lamps, producing and importing LED lights, and developing new LED technologies.
The trend of smarter buildings:
Smarter buildings, cities, and streets are the trend nowadays and in the future. Intelligent lighting controls technology is the first one to be adopted in this trend since it is considered to be the optimal choice in reducing energy consumption because lighting represents 14% of the energy needed on buildings, according to a research study conducted by the Massachusetts Institute of Technology.
Facts in the report:
- The report shows that there is a challenge facing intelligent lighting controls system which is the high cost of installations. For example, energy-efficient lights and light emitting didoes cost $35; on the other hand, fluorescent bulb costs $2 to $15. Yet this amount of money spent on the installation and more can be saved since the system is the most energy-efficient one in the industry.
- Asia Pacific dominated the luminaire and lighting control market in 2017 and it is expected to be the same in the future.