Intelligent lighting controls are gaining popularity owing to the evolution of smart technology which has drastically changed the face of lighting industry, in terms of energy saving, cost cutting and convenience of users. Energy-efficient light bulbs such as Light Emitting Diode (LED) lights, High Intensity Discharge (HID) lamps, and Compact Fluorescent Lights (CFL) are proven to use less energy and last longer than traditional light bulbs. Although the initial installation cost of energy-efficient lights is higher than the traditional lights, but they save a considerable share of energy cost over the life of bulbs.
The growing energy demand in developing countries is expected to increase further in the future, especially in countries like India and China, which are expected to consume more energy resources. The climate change has added to the difficulty of supply of energy with the depletion of fossil fuels. Such scenarios calls for improved energy efficient products and systems to meet the demands of energy globally. Along with it, the changing paradigm of lighting industry to electronic industry provides a great opportunity for the intelligent lighting controls market. With the integration of smart technology in the lighting industry, various gateways have been opened for the companies of several industry verticals, such as control systems, dimmers, and software based solutions and sensors.
The intelligent lighting controls market generated revenue of $ 18.4 billion in 2016 and is expected to reach to $36 billion by 2023 at a CAGR of 10.2%. Usage of intelligent lighting controls are increasing with the downfall in prices of LED lights. In healthcare application, controls are an essential technological component for sustainable lighting. Moreover, enhancements in design of controls are minimizing energy consumption and thus, driving the adoption of intelligent lighting on a global scale.
In terms of revenue, the sensors segment held the major share of 47% in the global intelligent lighting controls market in 2016. However, microprocessors and microcontrollers segment is expected to increase with the highest CAGR in the coming years. The sensors which are primarily used in intelligent lighting industry are ambient light sensors, proximity sensors, occupancy sensors, photo sensors, and daylight sensors. Some companies are looking forward to integrate gesture detecting sensors in intelligent lighting controls for gesture controls.
The intelligent lighting controls market is further divided on the basis of connection types, viz. wired and wireless. In terms of value, wired connection type held the highest share of the market in 2016, as it is more prevalent. Wireless connection type provides increased flexibility in terms of installation as compared to wired connection, and wireless control devices can be integrated with occupancy and daylight sensors to provide automated and enhanced light settings which helps in significant energy savings. Wireless connection held 47% of the market share in 2016, in terms of value, which is expected to increase in the coming years.
Among all the light sources, LED has had an immense impact on energy savings in the developed countries, which has further helped in the expansion of LED lighting market. LED segment held the highest market share of 40.4% of the intelligent lighting controls market in 2016, in terms of value. BIS Research has compiled an extensive market research report on ‘Global Intelligent Lighting Controls Market- Analysis & Forecast (2017 to 2023)’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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