Worldwide Intelligent Lighting Controls Market to Surpass $4.3 Billion by 2020, Forecasts Pike Research
Lighting accounts for about 25% of the commercial building sector’s energy use. Lighting controls offer significant potential for reducing that energy use, and new technologies that have emerged in recent years have enabled a wide range of innovative strategies, from room-level awareness of occupancy and daylight sensing to building-wide coordination of a fully networked system. According to a new report from Pike Research, the global market for intelligent lighting controls will enjoy steady and robust growth over the rest of this decade, rising from $1.5 billion in 2012 to more than $4.3 billion in 2020.
“New strategies for intelligent lighting control are beginning to gain broad acceptance by building owners and managers at the same time that building codes and regulations are increasingly mandating greater efficiency in buildings,” says senior analyst Eric Bloom. “This confluence of events creates a strong growth environment for companies in the space, particularly those that provide lighting control in the context of broader building energy management solutions.”
In particular, new wireless technologies, along with reductions in prices for LED lights and dimmable ballasts, have made retrofit projects considerably more attractive. As LEDs become more mainstream, lighting controls – in the form of standalone devices or systems integrated into light fixtures – will help maximize their benefits. The number of existing buildings in developed countries, where these technologies have already gained acceptance, is quite large, and the pool of buildings that could benefit from lighting control retrofits in the developing world is vast. While North America will remain the largest market for intelligent lighting controls through the end of the decade, the most rapid growth will come in Asia Pacific, where revenues will rise at a compound annual growth rate (CAGR) of 21%.
Pike Research’s report, “Intelligent Lighting Controls for Commercial Buildings”, analyzes the global market opportunity for intelligent controls across nine building types: office, retail, education, healthcare, hotels & restaurants, institutional/assembly, warehouse, transport, and multi-unit residential. The report provides a comprehensive assessment of the demand drivers, obstacles, policy factors, and technology issues associated with the growing market for lighting controls. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by building type and region, extend through 2020. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com or call +1.303.997.7609.
Richard Martin, +1-303-997-7609
All Rights Reserved.