The Latin America, Middle East and Africa Lighting Control System Market would witness market growth of 11.5% CAGR during the forecast period (2023-2030).
Commercial buildings that require maximum energy savings and light quality in thermally challenged environment are included in indoor lighting control systems. Here, added value measures necessary for Energy Star compliance include high performance efficiency, power factor, low EMI, and trial dimming. In addition to high-end options like track lights, recessed ceiling lights, under-cabinet lights, and accent lights, they also include fixture ballasts and bulbs for retail stores.
Streetlights, tunnel lighting, exterior wall sconces, route lighting, garage buildings, parking lots, factories, warehouses, and freezers are some examples of these infrastructural applications of market. Projections show that 2.5 billion more people could live in urban areas by 2050 as a result of urbanization, which is the gradual transition of the human population from rural to urban areas. Nearly 90% of this increase will occur in Africa. Due to the increase in energy consumption in urban areas, it is imperative to take actions in favour of the environment. Therefore, the demand and deployment of lighting control systems is anticipated to grow in the future years.
The Kingdom of Saudi Arabia has made significant achievements in promoting social integration and eliminating poverty, as well as improving access to decent housing and essential facilities in terms of sustainable urban development for people with disabilities. As of 2019, 62 percent of housing units were owned, up from 59.9 percent in 2017, on track to meet the Vision 2030 goal of 70 percent by 2030. The government has also been concentrating on establishing new financing options for home construction and home purchases, as well as construction initiatives to ensure enough units are being constructed to enhance access to housing. Saudi Arabia is undergoing change due to the Kingdom of Saudi Arabia's Vision 2030, a comprehensive national development plan. It is anticipated that all of these efforts in the LAMEA area will contribute to the expansion of the local market.
The Brazil market dominated the LAMEA Lighting Control System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $678.3 million by 2030. The Argentina market is experiencing a CAGR of 12.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 11.2% during (2023 - 2030).
Based on Application, the market is segmented into Indoor (Commercial, Residential, and Industrial) and Outdoor. Based on Component, the market is segmented into Solution and Services. Based on Technology, the market is segmented into Wired and Wireless (Wi-Fi, Bluetooth, ZigBee, Proprietary, Hybrid and Others). Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Lighting Control System Market is Projected to reach USD 29.8 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., Acuity Brands Lighting, Inc., Cree Lighting (Ideal Industries, Inc.), GE Current, a Daintree company, Legrand S.A. (Legrand Group), Eaton Corporation PLC, ams-OSRAM AG, Hubbell Incorporated, Dialight PLC and Lutron Electronics Co., Inc.
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