Global intelligent lighting controls market to surpass $4.3B by 2020
October 3, 2012 - A new report from Pike Research predicts 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.
By Alyssa Dalton
“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,” said 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.”
As LEDs become more mainstream, lighting controls will help maximize their benefits, stated the report. It predicted that 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%.
“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,” noted the report.
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.