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Light Management System Market Worth 21.51 Billion USD by 2023
[March 13, 2018]

Light Management System Market Worth 21.51 Billion USD by 2023

PUNE, India, March 13, 2018 /PRNewswire/ --

According to a new market research report "Light Management System Market by Function (Dimming Control, Occupancy-Based, Schedule-Based, and Daylight Control), End-User (Smart Homes, Commercial, Industrial, and Municipal), Application, Type, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market is estimated USD 11.66 Billion in 2018 to USD 21.51 Billion by 2023, at a CAGR of 13.03%, during the forecast period. The increasing adoption of energy-efficient lighting automation systems is the major driver of the lighting management system market. The growing demand for building automation in North America and Europe make them potential growth markets for the providers of lighting management systems.

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Browse 75 Tables and 38 Figures spread through 146 Pages and in-depth TOC on "Light Management System Market"

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The commercial segment is expected to account for the largest share of the Light Management System Market during the forecast period. 

Light management systems are used widely in commercial set-ups such as corporate offices, healthcare facilities, retail complexes, hotels, restaurants, and educational institutes. Reducing energy consumption has become a major objective for organizations, governments, utilities, and other stakeholders. Controls and connectivity enable the personalization of lighting as well as allow users to reduce energy use, optimize spaces, and lower maintenance costs.

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Increasing preference for dimming control management 

Dimming control management is used to reduce the energy consumption of light sources and, consequently, the intensity and output of those light sources. Compared to on-off switching controls, they can improve energy savings, better align lighting with human needs, and help extend the working life of light sources.

North America: Expected to be the leading market for light management systems during the forecast period. 

In this report, the Light Management System Market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The North American market is expected to lead the Light Management System Market in 2018. The growing demand for building automation in Asia Pacific and North America make them potential growth markets for the providers of lighting management systems. Moreover, increasing smart city developments in different parts of the world will provide new opportunities during the forecast period.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Light Management System Market. These players include GE (US), Philips Lighting (Netherlands), Eaton (Ireland), Zumtobel (Austria), and OSRAM (Germany). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.

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About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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