Lighting Management Systems Market

Lighting Management Systems Market Analysis

The Lighting Management Systems Market is expected to register a CAGR of greater than 13% during the forecast period.

• Industrial sector is expected to lead the market growth, owing to the increased focus on energy efficiency and economic viability. Favorable government have also been a driving factor for the market.
• The lighting management systems provide a better efficiency compared to the conventional switch operated lighting system. The technological advancements are making these systems more efficient and less expensive, which in turn are making them more attractive in terms of economic viability.
• North America is the biggest market for lighting management systems, owing to the increased focus on cost saving and environmental concerns.

Lighting Management Systems Market Trends

Industrial Sector to Lead the Market

• The increasing efficiency and reducing cost of lighting management systems are making them an economically preferred option. The growing construction industry, particularly in developing countries, is expected to drive the market during the forecast period.
• Lighting Control Systems have proved to be efficient and cost saving, for indoor and outdoor applications for all type of installments ranging from industrial to commercial.
• Favorable government policies and energy saving capabilities of Lighting Management Systems are expected to be the major driving factors for the market.
• The increasing industrial development and population growth have led to a growth in global demand for energy, which in turn have increased the demand for efficient electricity management systems.
• Therefore the aforementioned factors are expected to help the market grow in forecast period.

North America to Dominate the Market Growth

• North America is a major market for lighting management systems,owing to the increased focus on cost saving and environmental concerns.
• Increase in efficiency and automation have increased the demand for lighting management systems in industrial, commercial and office buildings in the region.
• According to an estimate 80%-90% of the lighting in industrial sector in USA are conventional High Intensity Discharge Sources, but this is continuously on decline to give way to more efficient and environment friendly LED based lighting management systems. LED's have proved to have up to 2-4 times the life of metal halide or sodium vapor lights.
• Therefore, with increased concerns over energy efficiency, environmental concerns, and economical benefits, the market for lighting management systems is expected to grow in the forecasted period.

Lighting Management Systems Industry Overview

The lighting management systems market is fragmented with a lot of big and small players sharing the market. Some of the key players are Legrand SA, Osram Licht AG, Schneider Electric SE, LG Electronics Inc., Siemens AG, Hubbell Incorporated, among others.

Lighting Management Systems Market Leaders