“Global Intelligent Lighting Controls Market to reach a market value of USD 45.7 Billion by 2031 growing at a CAGR of 17.6%”
The Global Intelligent Lighting Controls Market size is expected to reach $45.7 billion by 2031, rising at a market growth of 17.6% CAGR during the forecast period.
Many countries in the Asia-Pacific region are experiencing rapid urbanization, leading to increased construction of commercial buildings, residential complexes, and smart cities. These lighting controls are integral to these developments as they offer energy efficiency, enhanced lighting quality, and support for smart city infrastructure. Consequently, the Asia pacific region would acquire nearly 28% of the total market share by 2031.
Energy Management Systems integrate various building systems, including lighting and other energy-consuming devices. Moreover, these controls integrated with EMS enable participation in demand response programs. In conclusion, the rise of energy management systems drives the market's growth. Additionally, Governments and utility providers offer financial incentives, rebates, tax credits, and grants to offset the upfront costs of purchasing and installing these lighting controls. By reducing the initial capital outlay, government incentives improve the return on investment (ROI) and shorten the payback period for investments in these lighting controls. Therefore, government incentives and rebates are driving the growth of the market.
However, the high upfront costs associated with intelligent lighting control systems represent a significant financial barrier for residential and commercial customers. In addition, many consumers and businesses operate within strict budget constraints. The higher costs of these lighting controls can make it challenging to justify the expenditure, especially when competing priorities exist. Hence, high initial costs and installation expenses hinder the market's growth.
On the basis of connectivity type, the market is segmented into wired and wireless. In 2023, the wireless segment attained 42% revenue share in the market. Wireless systems do not require extensive wiring infrastructure, making installation easier and faster.
Based on type, the market is divided into sensors, ballast & LED drivers, microcontrollers, dimmers & switch actuators, transmitters & receivers, and others. The ballast & LED drivers segment attained 22% revenue share in the market in 2023. The widespread adoption of LED lighting across various applications, such as residential, commercial, industrial, and outdoor lighting, is a major driver.
By application, the market is classified into smart cities, automotive, manufacturing, media & entertainment, and others. The automotive segment procured 20% revenue share in the market in 2023. Intelligent vehicle lighting systems enhance safety by providing better visibility in various driving conditions, such as low light, inclement weather, or nighttime driving.
Free Valuable Insights: Global Intelligent Lighting Controls Market size to reach USD 45.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region witnessed 38% revenue share in the market. North America is known for its early adoption of advanced technologies, including smart building solutions. These lighting controls fit this trend, appealing to businesses, homeowners, and municipalities looking to upgrade their infrastructure with energy-efficient and connected systems.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 12.7 Billion |
| Market size forecast in 2031 | USD 45.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 17.6% from 2024 to 2031 |
| Number of Pages | 265 |
| Number of Tables | 390 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Connectivity Type, Type, Application, Region |
| Country scope |
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| Companies Included | General Electric Company, Cree, Inc. (SMART Global Holdings, Inc.), Honeywell International Inc., Eaton Corporation plc, Cisco Systems, Inc., Siemens AG, Acuity Brands, Inc., ams-OSRAM AG, Signify N.V. and Panasonic Holdings Corporation |
By Connectivity Type
By Type
By Application
By Geography
This Market size is expected to reach $45.7 billion by 2031.
Rise of energy management systems are driving the Market in coming years, however, High initial costs and installation expenses restraints the growth of the Market.
General Electric Company, Cree, Inc. (SMART Global Holdings, Inc.), Honeywell International Inc., Eaton Corporation plc, Cisco Systems, Inc., Siemens AG, Acuity Brands, Inc., ams-OSRAM AG, Signify N.V. and Panasonic Holdings Corporation
The expected CAGR of this Market is 17.6% from 2024 to 2031.
The Sensors segment led the Market by Type in 2023; thereby, achieving a market value of $11.3 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16.5 billion by 2031.
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