Networked Lighting Controls Revenue to Hit $4.8B in 2024
July 20, 2015 | Navigant ResearchEstimated reading time: 1 minute
A new report from Navigant Research examines the global market for lighting controls, including forecasts for unit shipments and revenue, segmented by equipment type, building type, construction type, technology, and region, through 2024.
Increasingly, regulations around the world are calling for the adoption of lighting controls and are encouraging more advanced control systems to minimize energy consumption. While all lighting control systems still function at their core to dim or shut off lights that are unnecessary, today’s systems also provide non-energy benefits that are potentially more valuable to building owners and managers, including improved monitoring and maintenance, enhanced occupant experience, and space utilization visualizations. Click to tweet: According to a new report from Navigant Research, global networked lighting controls revenue is expected to grow from $2.2 billion in 2015 to $4.8 billion in 2024.
“In the midst of the ongoing transformation from previously dominant fluorescent lighting to more efficient and flexible LED lighting, the market for lighting controls has expanded broadly,” says Jesse Foote, senior research analyst with Navigant Research. “Innovations from small and large companies alike have led to a proliferation of creative ways to visualize lighting usage and devise new strategies to manage lighting energy consumption, as well as a host of non-energy benefits.”
For many consumers, the falling marginal costs of including controls in lighting projects have also made the decision to incorporate these systems considerably easier, according to the report. In some cases, companies are even offering control systems by default to operate the lights that they install, thus bringing advanced controls to customers that might otherwise not have sought them out.
The report, Intelligent Lighting Controls for Commercial Buildings, analyzes the worldwide market for lighting controls. The study examines sensors, relays, switches, ballasts, drivers, network control gear, network services, and communications technologies, with a specific focus on networked lighting controls. Global market forecasts for unit shipments and revenue, segmented by equipment type, building type, construction type, technology, and region, extend through 2024. The report details the market drivers for these technologies, including building codes, hardware costs, and consumer expectations, as well as barriers to adoption, and provides profiles of select industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
Suggested Items
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.
IDTechEx Discusses Low-Loss Materials: The Enabler of Future Connected Vehicles?
05/06/2024 | IDTechExFuture connected vehicles will offer future drivers a safer, smoother, and more convenient driving experience. Not only will drivers get access to more navigation and entertainment options, but they will also gain access to safety technologies that will potentially reduce accidents, improve congestion, and reduce emissions globally by allowing vehicle safety systems to communicate with each other and with city traffic infrastructure.
HBM Prices to Increase by 5–10% in 2025, Accounting for Over 30% of Total DRAM Value
05/06/2024 | TrendForceAvril Wu, TrendForce Senior Research Vice President, reports that the HBM market is poised for robust growth, driven by significant pricing premiums and increased capacity needs for AI chips.
Tablet Shipments Show Signs of Recovery in Q1 2024
05/06/2024 | IDCAfter more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24), totaling 30.8 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.