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Networked Lighting Controls Revenue Is Expected To Reach $4.8 Billion in 2024, According to Navigant Research

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Networked Lighting Controls Revenue Is Expected To Reach $4.8 Billion in 2024, According to Navigant Research

 

 

 

 

 

 

 

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. 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.

 

 

 

About Navigant Research

 

 

 

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries.  In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets.  The team’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 Utilities, Smart Transportation, and Smart Buildings sectors.  

 

Posted July 9, 2015

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