LED Lighting Controllers Market Scope
Due to growing digitalization and industrialization consumption of electrical energy has been escalating across the globe. Thus, to minimize or limit electricity consumption number of consumers are favoring light emitting diodes (LED) which will ultimately propel the demand for LED lighting controllers. In addition to this, the demand for smart housing is increasing, that will also emerge the market for the wireless LED lighting controllers. These lighting control systems are highly automated, network-based, or somewhat artificial intelligent. These devices are primarily used for monitoring the communication amongst input-output devices with the help of number of computing devices.
The market study is being classified by Type (High Power Controllers and Serial Controllers), by Application (Residential, Commercial, Industrial, Public Spaces and Others) and major geographies with country level break-up. According to AMA, the Global LED Lighting Controllers market is expected to see growth rate of 17.18% and may see market size of USD4303.33 Million by 2024.
LED lighting controllers are one of the innovative and technologically enhanced products which have differentiated them from the conventional lighting controls. Thus, the threat of new entrants is moderate since the lighting controller manufacturing will require higher Initial Investments. Although some of the electronics industry giants have entered into the market and try and develop differentiated products to gain a competitive edge over the competitors.The Players having a strong hold in the market are Acuity Brands, Hubbell Control Solutions, Philips Lighting, Lutron Electronics, and Leviton. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global LED Lighting Controllers market throughout the predicted period.
Acuity Brands (United States), Hubbell Control Solutions (United States), Philips Lighting (Netherlands), Lutron Electronics (United States), Leviton (United States), OSRAM (Germany), Cooper Controls (Eaton) (United States), ABB (United States), Cree (United States), GE Lighting (United States), LSI Industries (United States) and Synapse Wireless (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Echelon Corporation (United States), HUNT Dimming (United States), Lightronics (United States), LTECH (China), Douglas Lighting Controls (Canada) and Gardasoft (United Kingdm).
AdvanceMarketAnalytics has segmented the market of Global LED Lighting Controllers market by Type, Application and Region. On the basis of Type, Wired LED Lighting Controller are dominating the market in the year 2018 where as Wireless LED Lighting Controller stood as second largest market share.
On the basis of application, Commercial segment is dominating the market in the year 2018 where as Industrial segment stood as second largest market.
On the basis of geography, the market of LED Lighting Controllers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Connection Type, the sub-segment i.e. Wired LED Lighting Controller will boost the LED Lighting Controllers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
"The Energy Independence and Security Act of 2007" has put many changes into motion for the lighting industry. The most significant change was a required 25 percent increase in the energy efficiency of light bulbs. Since the manufacturers were unable to increase incandescent bulb efficiency by such a large percentage, it has led to restricting the usage of incandescent bulbs. And encouraged the consumption for highly efficient Light Emitting Diodes as well as fluorescent bulbs.
- Increasing Applications of Cloud-Based Lighting Controls
- Smart Home Construction with Automated Electronics Lamp Monitoring
- Minimal Energy Consuming than the Conventional Lighting Systems which will Fuel the Market Growth
- Increasing Demand for Smart Homes leading to Increasing Adoption of Smart Electronics Devices
- Increasing Adoption of Artificial Intelligence-based Controllers Assisting in Developing Emotion-Based Lighting Systems
- Rising Demand for Smart Street Lamps Owing to Smart City Initiatives
- Technological Uncertainties about the Internet of Things Concept which might Stagnate the Demand
- Continues Technological Enhancements may Change Consumer Preferences which might generate Volatile Demand
- Major Environmental Concerns related to Diminishing E-waste
- Stringent Government Regulations on Excessive Energy Consumption
- Comparatively Higher Manufacturing Cost
Key Target AudienceLED Manufactures, LED Upstream and Downstream Buyers, Electrical and Electronics Industry Associations, Government Agencies, Municipal Corporations, Construction Industry, Research and Development Institutes and Others
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