New Study from StrategyR Highlights a $738.9 Million Global Market for Power over Ethernet (PoE) Lighting by 2026
SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Power over Ethernet (PoE) Lighting - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Global Power over Ethernet (PoE) Lighting Market to Reach US$738.9 Million by the Year 2026
Amid the COVID-19 crisis, the global market for Power over Ethernet (PoE) Lighting estimated at US$191.7 Million in the year 2020, is projected to reach a revised size of US$738.9 Million by 2026, growing at a CAGR of 25.2% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 23% CAGR to reach US$562.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 29.4% CAGR for the next 7-year period. This segment currently accounts for a 30.9% share of the global Power over Ethernet (PoE) Lighting market.
The U.S. Market is Estimated at $78 Million in 2021, While China is Forecast to Reach $117.8 Million by 2026
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SOURCE Global Industry Analysts, Inc.