Lighting Control System Market by Installation Lighting Control System Market by Installation

 


Lighting Control System Market

GMI Research report projects that the Lighting Control Market is expected to expand at a CAGR of 14.1% during the forecast period. The evolving need for power-effective connected lighting controls because of the increasing awareness to decrease energy usage.

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Lighting Control System Market Dynamics

Some of the chief forces complementing the growth of the Lighting Control System Market include the growing awareness regarding energy-saving, ongoing technological innovation, and adoption of the Internet of Things. The increasing focus to develop smart cities has introduced new ways to involve citizens and improve the quality of life which will captivate a large number of end-users towards the adoption of lighting control systems. For instance, the UAE government is increasingly investing in the “Dubai Smart City” project, which intends on providing smart transportation, smart life, smart economy, and other innovative transformations to its citizens.

The increasing modernization in the world has persuaded consumers to seek for advanced power-saving lighting control and management solutions to decrease energy usage and electricity bill. Also, the lighting control system enables the user to tailor the lighting system more flexibly while offering automatic control depending upon their needs. The increasing cybersecurity problems and the high induction cost of these systems are likely to restrain the lighting control market size.

Regional Drivers

Geographically, the Asia-Pacific region will hold the largest share during the forecast period due to the intensified investment by governments, primarily in the emerging economies such as India, for the development of smart cities. The increasing inclination of consumers towards smart lighting systems in China has bolstered the market growth. Moreover, the rapid surge in population, accelerating income, and the adoption of western lifestyle, will indirectly contribute to the global lighting control market growth.

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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