Significant insights of Lighting Control System Market 2023 – Analysis & Forecast to 2023

Lighting Control System Market by Installation Type (New Installation and Retrofit), Offering (Hardware, Software, and Lighting as a Service), Application (Indoor and Outdoor), Communication Protocol, and Geography – Global Forecast to 2023″

Significant insights of Lighting Control System Market 2023 - Analysis & Forecast to 2023 1

The lighting control system market based on offering is dominated by hardware components. The hardware components in lighting products are LED drivers and ballasts, sensors, switches, dimmers, relay units, and gateways. LED drivers and ballasts components held a major share of the market for hardware components. The lighting control system market for the services segment is expected to grow at a significant rate during the forecast period.

The growth of the services segment is mainly propelled by the use of lighting services for the purpose of cost savings along with energy conservation and it is ecologically safe option.

The market for outdoor applications is expected to grow at a significant rate between 2017 and 2023. Increasing focus on enhancing connectivity by building roads and road lights, especially in the developing countries of the APAC region, would spur the growth of the outdoor lighting control system market. The indoor applications accounted for a major share of the lighting control system market in 2016.

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Hardware components to hold a major share of the lighting control system market between 2017 and 2023

The hardware components segment is expected to hold a major share of the lighting control system market between 2017 and 2023, owing to their widespread use in the lighting control systems. The hardware components in lighting products are LED drivers and ballasts, sensors, switches, dimmers, relay units, and gateways. LED drivers and ballasts, switches, and dimmers account for a major share of the lighting control system market for hardware components during the forecast period

Lighting control system market for outdoor applications to grow at a significant rate between 2017 and 2023

The lighting control system market for the outdoor lighting application is expected to grow at the highest rate. Outdoor lighting includes lighting for highways, roadways, bridges and tunnels, architectural lighting, lighting in public places such as stadiums and parks, and other lighting applications such as harbors. Increasing focus on enhancing connectivity by building roads and road lights, especially in the developing countries of APAC, would spur the growth of the said market.

APAC held the largest share of the lighting control system market in 2016

The APAC region accounted for a major share of the lighting control system market in 2016, and the similar trend is expected to continue during the forecast period. The largest market share in APAC is attributed to the rapid infrastructure building activities being undertaken in the region, mainly China where lighting control systems pave the way for the modernization of infrastructure.

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