2014-03-26 07:59:02 - Global Lighting Control Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Lighting Control System market is to grow at a CAGR of 17.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand from end-users. The Global Lighting Control System market has also been witnessing the increasing need for energy conservation. However, the diminishing ROI of lighting controls measurements could pose a challenge to the growth of this market.
The need for energy conservation has been receiving increasing attention. This will have a direct influence on the Global Lighting Control System market during the forecast period because concerns about energy conservation lead to the increased adoption of energy-efficient systems, thereby enhancing the growth of the market. Lighting control systems are majorly
used in residential, commercial, industrial, and outdoor applications. For instance, they are extensively used in commercial applications where they can monitor light settings, detect the presence of people in rooms, and reset the light settings accordingly. Thus, lighting control systems ensure energy savings and help minimize wastage.
One of the main drivers in this market is the increasing demand from end-users in the Industrial and Commercial segments. The rise in the number of end-users is expected to increase the demand for lighting control systems, thereby propelling the growth of the market during the forecast period. Thus, the Commercial and Industrial segments are the major revenue contributors to the market.
One of the key challenges in this market is the compatibility issues with LEDs and CFLs. Lighting control systems were mainly designed for incandescent lamps. However, end-users are increasingly replacing traditional incandescent lamps with energy-efficient LEDs and CFLs, which could have a negative impact on the growth of the market during the forecast period.
The key vendors dominating this market space are Acuity Brands Lighting Inc., General Electric Co., Leviton Manufacturing Co. Inc, Lutron Electronics Co. Inc, and Schneider Electric Co.
Other vendors are Crestron Electronics Inc ., Eaton Corp., Osram Sylvania Inc , Osram GmbH , Honeywell International Inc , Legrand , Panasonic Electric Works Corporation of America , Koninklijke Philips N.V., Universal Lighting Technologies., WattStopper Inc .
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