Intelligent Lighting Control Market

Intelligent Lighting Control Market Highlights

The global intelligent lighting control market is expected to cross a value of USD 89.2 billion by the end of 2032. The market was valued at USD 37.1 billion in 2023 and is expected to expand at a CAGR of 16.8% between 2024-2032.

• Over the mid-term, the rise in emphasis on energy efficiency and sustainability is the primary factor anticipated to drive the global intelligent lighting control market.
• The growing concern for data security is a major factor to challenge the market growth.
• The North America intelligent lighting control market is projected to dominate the global market.

Intelligent Lighting Control Market Outlook

Intelligent lighting control refers to the use of advanced technologies and systems for managing and automate lighting in various environments. These lighting systems aim at optimizing energy efficiency, enhance user comfort, and provide customized lighting solutions based on specific needs and conditions.

As per our analysts, the rise in emphasis on energy efficiency and sustainability is one of the primary factors expected to drive the growth of the global intelligent lighting control market. Organizations and individuals are increasingly adopting smart lighting solutions to reduce energy consumption, lower utility costs, and meet sustainability goals. According to our experts, primary energy consumption in the year 2022 crossed 600 exajoules, an increase of about 1% than the previous year. General Electric Company, Philips Lighting NV, and Eaton Corporation PL are some of the significant parties in the global market for intelligent lighting control.

                                    Get More Insights on This Report - Request Free Sample PDF

Intelligent Lighting Control Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global intelligent lighting control market are:

• Growing Advancements in LED Technology: In the recent years, light emitting diodes (LEDs) have improved significantly in terms of its lifespan, color stability, lumen output, and an enhanced color range. Users of LEDs can also adjust the brightness levels and color temperature by using intelligent control systems, allowing the user to obtain precise and dynamic lighting management. With such advancements in LED technology, the demand for ILCs is expected to increase. As per our analysts at KD Market Insights, by 2030, LEDs are projected to occupy close to 90% of overall lighting sources.
• Rise in Demand for Smart Homes and Buildings: The growing trend of building automation and rise in the adoption of smart homes and smart cities, has raised the demand for intelligent lighting control solutions. These systems enable customers to customize lighting scenes, and also integrate with other smart devices. As per our research, the revenue generates from the smart homes industry is expected to touch USD 257 billion by 2032.

Which Probable Factors Could Hamper the Growing Intelligent Lighting Control Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of intelligent lighting control are:

• High Implementation Cost: The cost of implementation of intelligent lighting control is usually very high and the affordability of the solution among price-sensitive consumers remains a major concern. This, as a result, impacts the demand for these solutions negatively, and in turn, lowering the market growth.
• Concern for Data Security: Intelligent lighting control systems work over the internet for its intelligent functioning properties. These connected systems integrate with smart devices and other applications for providing its users convenience of use. The growing concern for data security and privacy among the users raises fear for unauthorized access to personal or sensitive data, which is expected to negatively impact the market growth.

How is the Global Intelligent Lighting Control Market Segmented?

Our experts at KD Market Insights have segmented the global intelligent lighting control market as:

What are the Probable Factors Influencing the North America Intelligent Lighting Control Market Forecast?

The North America intelligent lighting control market is majorly driven by the increasing implementation of energy efficiency regulations and incentives by government bodies at federal, state, and local levels encourages businesses and individuals to adopt intelligent lighting control systems. For instance, the government of the United States has set the aim to achieve net-zero emissions by 2050 by switching to zero-emission buildings and vehicles. Besides this, the growing trend towards smart buildings and the integration of Internet of Things (IoT) technologies are also expected to contribute to the growth of intelligent lighting control market in North America.

As per our analysts at KD Market Insights, the following five players lead the North America intelligent lighting control market growth:

• Acuity Brands, Inc.
• Lutron Electronics Co., Inc.
• Creston Electronics, Inc.
• Leviton Manufacturing Co., Inc.
• Hubbell Incorporated

Which Key Players Top the Global Intelligent Lighting Control Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global intelligent lighting control market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with intelligent lighting control market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global intelligent lighting control market share:

• General Electric Company
• Philips Lighting NV
• Eaton Corporation PL
• Honeywell International Inc.
• Acuity Brands Inc.
• Cree Inc.
• Lutron Electronics co. Inc.
• Leviton Manufacturing Company Inc.
• Digital Lumens Inc.
• WAGO Corporation
• Infineon Technologies
• Schneider Electric
• Cisco Systems Inc.
• Taiwan Semiconductor
• Toshiba

What are the Recent Developments Observed in the Intelligent Lighting Control Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global intelligent lighting control market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Signify Holdings announced that it has acquired the wired control systems manufacturer of the United States, Intelligent Lighting Controls, Inc. With this acquisition, Intelligent Lighting Controls would sell its products as a part of Signify’s Digital Solutions business division, Cooper Lighting Solutions, in the United States, Canada, and Mexico.

Further, WiSilica Inc. stated that it has partnered with Tridonic for helping the building communities to usher in advanced, smart, and flexible lighting ecosystems.