An insightful study, titled “Global Market Study on Lighting Controllers: Sensor to Remain Dominant Technology During the Forecast Period 2017 – 2025” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This 208 page research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.
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In the ever-changing technological world, IoT service providers are playing a significant part. With the continuous advancements in technology, more and more industrial and commercial end-users are opting for IoT services. With the emergence of IoT, the demand for smart and automated home solutions is increasing rapidly, which is expected to serve as a huge optimistic opportunity for the growth of lighting controllers for the industrial and commercial applications. Thus, the collaboration with IoT service providers can help the lighting controller vendors to provide more diversified products with advanced technology.
Rising awareness about energy conservation and utilizing scarce resources are crucial factors which are promoting the adoption of LED lighting and related products. Lighting controller vendors can focus on integrating the advantages of LED’s with automated lighting solutions with features such as day light harvesting, and motion sensors. Thus, an increase in the demand for automated lighting systems is expected to showcase an optimistic growth opportunity for the lighting controller vendors.
With rapid technological advancements in lighting solutions, the demand for smart lighting solutions is expected to surge in North America. Smart lighting solutions and infrastructure assist in sensing the movement of people and the number of people in the immediate vicinity, and then adjust the lighting accordingly. Also, smart lights are controlled by smartphones, and can be accessible away from the home. These lights offer scheduling, comfort dimming, synchronization with music and are compatible with smart home products such as Apple HomeKit. Such devices can be coordinated through personal assist solutions such as Amazon Alexa. Thus, the development of smart lighting solutions is boosting the growth of the lighting controllers market in the North American region.
Over the years it has been observed that the major players located in North America are focusing on extracting government contracts associated with lighting projects such as street lighting and architecture/monument lighting. The objective of extracting government contracts is to get bulk business. Besides, the success of one project may germinate the high possibility of extracting more lighting contracts from the government. For instance, in February 2017, with a partnership with the General Electric Company, the Government of San Diego, U.S., announced a US$ 30 million investment to deploy the smart city IoT sensor platform in order to transform the street lighting of San Diego city into a connected digital infrastructure. This platform collects real-time sensor data across the city that can be used to develop applications that benefit the community.
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As per the data provided by Market Research Reports Search Engine, the dimmer segment in the technology category was estimated to be valued at nearly US$ 1,170 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 4,310 Mn in 2025, exhibiting a CAGR of 17.7% during the period of assessment 2017-2025. The day-light harvesting segment in the technology category was estimated to be valued at nearly US$ 1,125 Mn in 2017 and is forecasted to reach a valuation of nearly US$ 4,185 Mn in 2025, displaying a CAGR of 17.9% during the period of forecast.
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