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The Lighting Control System Market was valued around USD 18,943 million in 2019 and is predicted to grow at a CAGR of 14.1% over the forecast period (2020-2027).The factors driving the growth of Lighting Control System Market includes rising consciousness about reducing energy consumption, expansion of the smart city network, increasing installation of smart lighting systems around the world and improvements in the living standards. Moreover, Government schemes promoting the use of energy efficient products, technological advancements in lighting control systems, shift from using conventional lighting to LED, rapid digitalization and rising focus on modernizing the lighting infrastructure, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading companies on research and development, strategic mergers, and acquisitions between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.However, growth of the Lighting Control System Market is hindered due to high installation cost of lighting control systems.The prominent players operating in the market are OSRAM, Acuity Brands Lighting Inc., Schneider Electric SE, Legrand S.A., Philips Lighting Holding B.V., Honeywell International Inc., Hubbell Incorporated, General Electric Company, Lutron Electronics Co., Inc. and Ideal Industries, Inc., among others.Based on Type, the New Installations segment is expected to expand at a remarkable CAGR during the forecast periodGrowing demand for smart lighting control systems in corporate offices, parking spaces, and shopping malls and rising adoption of advanced technologies, are some of the factors responsible for the segment’s growth.Based on Offering, the Hardware segment is projected to capture the largest market share over the forecast periodAs per the Global Lighting Control System Market Forecast, growing demand for LEDs across the globe, is major factor pushing the growth of the segment.Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast periodRise in the installation of smart lighting systems, increase in Government’s expenditure on smart city projects, rapid urbanization and high population growth rates are some of the important factors augmenting the Lighting Control System Market size in Asia-Pacific region.Key DevelopmentsIn 2019, Acuity Brands Lighting Inc. launched Modulus, a low voltage distributed power and control system which offer digital control and network technologies for LED luminaires.In 2019, Ideal Industries, Inc., completed the acquisition of Cree Lighting, a lighting Product business unit of Cree, Inc. The acquisition includes LED lighting fixtures, lamps, and corporate lighting solutions business for commercial, industrial, and consumer applications.In 2018, Lutron Electronics Co., Inc. completed the acquisition of Ketra, a natural light solution provider. Through this acquisition, Lutron plans to expand its product offering and provides its target customer with a more comfortable, productive, and pleasant environment at home and at work.Market SegmentationSegmentation by Installation TypeNew InstallationsRetrofit InstallationsSegmentation by OfferingHardwareLED Drivers and BallastsSensorsSwitchesManual On/Off SwitchesElectronic SwitchesDimmersWired DimmersWireless DimmersRelay UnitsGatewaysSoftwareLocal/Web BasedCloud BasedServicesProfessional ServicesInstallation and Maintenance ServicesSegmentation Market by End-use ApplicationIndoorResidentialCommercialIndustrialOthersOutdoorHighways & Roadways LightingArchitectural LightingLighting for Public PlacesSegmentation by Communication ProtocolWiredDALIPLCPOEWired Hybrid ProtocolsOthersWirelessZigBeeBluetooth/BLEEnOceanWi-Fi6LoWPANWireless Hybrid ProtocolsOthersSegmentation by RegionAsia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media Contact Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: enquiry@gmiresearch.com Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: www.gmiresearch.com   

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The moment at which the physical converts into digital and the virtual transforms into reality is referred to the Metaverse. The metaverse will digitise our daily lives and serve as a digital marketplace for physical things.

Automotive Software Market Overview: The global automotive software market size is projected to expand at 20% CAGR from 2020 to 2030. MRFR’s report on the automotive software market comprises growth drivers, challenges, and trends on the industry for the forecast period (2022-2030). The COVID-19 pandemic and its implications are explored in depth in the market. Automotive Software Market...

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