Lighting Controls Market Analysis Report 2024: Market to Grow by a CAGR of 14.5 to 2032, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships

Key Insights

The Lighting Controls Marketsize was valued at USD 17.03 USD billion in 2023 and is projected to reach USD 43.94 USD billion by 2032, exhibiting a CAGR of 14.5 % during the forecast period. Lighting controls are those devices that are intended for the control and regulation of lighting in one or the other environment. They include devices and technologies; Light intensity, light color, and light scheduling control devices and technologies. There are the basic types of lighting controls whereby a building may apply switches and dimmers that are manual, but there are automatic controls such as timers, occupancy sensors, and daylight sensors. Modern units have intelligent control that can be connected to the management systems of the buildings and can be operated remotely with the help of applications for mobile devices. Such options may comprise energy conservation, safety enhancement, and dimming capability that allow selecting a preferred light temperature. Applications cover homes, offices, and factories and in such places, they make it possible to control energy use, comfort, and convenience.

Lighting Controls Trends

• The adoption of IoT (Internet of Things) and mesh networks is leading to the development of more sophisticated and interconnected lighting control systems.
• The use of artificial intelligence (AI) is enabling lighting control systems to become more proactive and adaptive, responding to changes in the environment and user preferences.
• The increasing adoption of cloud-based platforms is making it easier for users to control their lighting systems remotely and access data analytics.

Driving Forces: What's Propelling the Lighting Controls Market

• Rising energy costs: Lighting accounts for a significant portion of energy consumption in commercial and residential buildings. Lighting controls can help to reduce energy consumption by optimizing the use of light.
• Growing demand for smart and connected lighting systems: Smart and connected lighting systems offer a number of benefits, including the ability to control light remotely, create schedules, and adjust the color and brightness of light.
• Increasing adoption of building automation systems: Building automation systems integrate the control of lighting, HVAC, and other building systems. This can help to improve energy efficiency and reduce operating costs.

Challenges and Restraints in Lighting Controls Market

• High cost: Lighting controls can be expensive to purchase and install.
• Lack of awareness: Many users are not aware of the benefits of lighting controls.
• Technical complexity: Lighting control systems can be complex to design and install.

Emerging Trends in Lighting Controls

• The use of human-centric lighting: Human-centric lighting is designed to mimic the natural light cycle and support human health and well-being.
• The adoption of biodynamic lighting: Biodynamic lighting is a type of human-centric lighting that uses dynamic changes in light intensity and color to support the body's natural rhythms.
• The integration of lighting controls with other building systems: Lighting controls are increasingly being integrated with other building systems, such as HVAC and security systems, to create a more holistic and efficient building environment.

Growth Catalysts in Lighting Controls Industry

• Government incentives: Many governments are offering incentives to encourage the adoption of energy-efficient lighting solutions.
• Technological advancements: Technological advancements are making lighting controls more affordable, easier to install, and more user-friendly.
• Increasing awareness: The increasing awareness of the benefits of lighting controls is also driving growth in the market.

Market Segmentation: Lighting Controls Analysis

By Product

• LED Drivers and Ballasts
• Sensors
• Switches
• Dimmers
• Transmitters and Receivers
• Others (Timers and Photo-Sensors, etc.)

By Connectivity Type

• Wired
• Wireless

By End-user

• Residential
• Commercial
• Industrial
• Highways & Roadways Lighting

Leading Players in the Lighting Controls Market

• General Electric Company (U.S.)
• Signify Holding (Philips Lightings) (Netherlands)
• Cisco Systems Inc. (U.S.)
• Schneider Electric (France)
• Toshiba (Japan)
• Legrand S.A. (France)
• Lutron Electronics Co., Inc. (U.S.)
• Eaton Corporation PLC (Ireland)
• Honeywell International Inc. (U.S.)
• OSRAM Licht AG (Germany)

Significant developments in Lighting Controls Sector

• In 2021, Signify Holding acquired Cooper Lighting, a leading provider of lighting solutions for commercial, industrial, and residential applications.
• In 2022, Lutron Electronics Co., Inc. launched a new line of smart lighting controls that can be controlled via voice or app.
• In 2023, Eaton Corporation PL announced a partnership with Microsoft to develop lighting control solutions for smart buildings.

Regional Insight

• North America is the largest market for lighting controls, followed by Europe and Asia Pacific.
• The Asia Pacific region is expected to be the fastest-growing market during the forecast period.