Luminaire and Lighting Control Market Generating Revenue of $130.56 Billion by 2030, At a Booming 6.44% Growth Rate

Luminaire and Lighting Control Market by Product, Component, Light, Technology, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030.

PORTLAND, OR, UNITES STATES, September 26, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Luminaire and Lighting Control Market by Product, Component, Light, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”.

The global luminaire and lighting control market size was valued at $72.72 billion in 2020, and is projected to reach $130.56 billion by 2030, registering a CAGR of 6.44%. The North America region is expected to be the leading contributor to the global market during the forecast period, followed by Asia-Pacific and Europe.

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The luminaire and lighting controls comprise different components that include sensors, LED drivers, dimmers & switch actuators, microcontrollers, transmitters & receivers, and intelligent luminaries. In a typical traditional lighting system, luminaire, sensors and lighting controllers are installed separately. These sensors are connected to luminaires and control inputs that is aggregated at a control panel which featuring controller. The ongoing miniaturization of sensors and controllers allows both to be embedded in luminaires.

The application of luminaire and lighting controls include indoor and outdoor. The indoor lighting includes lighting systems that are installed within homes, offices, industrial units and other smart light systems within the premise boundaries. Lighting controls are devices and systems that turn lighting ON/OF or raise/lower output according to need. Over the past few years, these functions have become increasingly automated to save energy in indoor segment, with demand focused on new construction due to energy codes. More recently, lighting controls began to offer advanced features such as onboard intelligence, allowing independent decision-making and addressability within a scalable lighting control network.

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Competitive Analysis:
The competitive environment of Luminaire and Lighting Control Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Luminaire and Lighting Control Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the major key players of the Luminaire and Lighting Control Market include:
· Acuity Brands, Inc
· Cree, Inc
· Eaton Corporation
· General Electric
· OSRAM AG
· Philips N.V
· Dialight
· Legrand S.A
· Lutron Electronics Co., Inc
· Hubbell Incorporated

The prominent factors that impact the luminaire and lighting control market growth are increasing demand of street and roadways lighting, high development of smart lighting system, and government initiatives toward energy saving product. However, high initial installation cost restricts the market growth. On the contrary, surging development of smart city projects in Asia-Pacific is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global luminaire and lighting control industry during the forecast period.

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Key Benefits for Stakeholders:
This study comprises analytical depiction of the global luminaire and lighting control market outlook along with the current trends and future estimations to depict the imminent investment pockets.
The overall luminaire and lighting control market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and luminaire and lighting control market opportunities with a detailed impact analysis.
The current luminaire and lighting control market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and the luminaire and lighting control market share of key vendors.
The report includes the market trends and the revenue share of key vendors.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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