Lighting Management System Market To Reach USD 26.8 Billion By 2025

Global Lighting Management System Market: Key Highlights

According to the new market research report “Lighting Management System Market by Component (Hardware, Software, Services), by Connectivity Type (Wired, Wireless), by Function (Switching, Occupancy, Dimming, Daylight, Energy Consumption Management, Others), by End User (Indoor, Outdoor) by Region (Asia Pacific, Europe, Middle East and Africa, South America, North America) – Global Forecast (2018 to 2025)”, the global lighting management system market is estimated to reach USD 26.8 Billion by 2025 at a CAGR of 13.1% during forecast period 2020-2025.
The expanding adoption of smart technologies in the energy sector, government policies for smart cities initiatives, growing requirement of cost-effective energy solutions are some of the factors which are expected to drive the lighting management system market during the forecast period.
However, the requirement of ongoing maintenance of the system is expected to restrain the market during the forecast period.

Global Lighting Management System Market: Key Market Dynamics

The increasing adoption of smart technologies in the energy sector is expected to drive the market of the lighting management system as the implementation of the system helps in achieving cost-effective energy savings
The requirement of ongoing maintenance of the system may restrain the growth of the market as the hardware in the system is advanced, there are numerous sensors involved and they should function fail-safe for desired results this adds up additional maintenance requirement.
The expanding adoption of wireless technology infrastructure may contribute to the growth of the market in the near future as wireless infrastructure expands the capacity of communication which makes it possible to connect more and more devices in a single network.
The smart cities initiatives may contribute to the growth of the market in the near future as the governing authorities of developing economies are pushing towards the adoption of smart technologies in every sector and building smart cities for the future.
Data security concerns can hinder the growth of the market as the system connects the network of lightings through wires or wireless and being network connected there can be a risk of cyber-attacks.

Global Lighting Management System Market: Regional Overview

North America

Only lighting covers nearly one-sixth of the total electricity use annually in the US. Implementation of advanced systems in the use can potentially save billions of dollars annually in the US electricity bills and may help in reducing carbon emissions and air pollutants into the environment. Chicago Smart Lighting Project passed by Chicago’s City Council on April 20th, 2017 which is still operating helped in saving tremendous amount in electricity bills, this project included light management system implementation and focused on enhancing energy system reliability.

Hence, the adoption of the system and initiatives towards cost-efficient solutions is expected to boost the market in the region.

Europe

In 2017, Western Norway with the help of Philips Lighting initiated transforming 11 municipalities in southern Rogaland in Western Norway into smart municipalities as a part of smart city initiative. Also, in Oslo 70% annual reduction in energy consumption and 1440 tons per year reduction in carbon dioxide emission as they implemented intelligent street lighting.

Thus, the notable investments and the effort of the governing authorities in the smart lighting solutions are anticipated to boost the market in the region.

Global Lighting Management System Market: Key Players Overview

OSRAM GmbH:

OSRAM GmbH is a Germany-based multinational lighting manufacturing company. The company offers many solutions to fulfill a variety of requirements. Its product portfolio is categorized as energy saving, ambience, scenes, components, and light source control gears. Some of the solutions are Touch DIM for single luminaries, MULTIeco for single and group offices, MULTI 3 for strip lightings and hallways, and Sensoren which are sensors for stand-alone solutions.

Schneider Electric:

Schneider Electric is a France-based multinational electrical equipment manufacturing corporation. It provides integrated solution combining software, real-time data, and services to residential, commercial and industries. Company helps in achieving energy savings to the customers by providing vast product portfolio which majorly covers occupancy sensors, current-limiting panels, emergency lighting control devices, architectural dimming amongst others.

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