Global Indoor Lighting Management Market Projected to Reach USD 21,424.83 Million by 2031 | CAGR of 5.3%
Category : Energy and Power | Published Date : Nov 2024 | Type : Press Release
Indoor Lighting Management Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Indoor Lighting Management Market was valued at USD 14,144.66 Million in 2023 and is expected to reach USD 21,424.83 Million by 2031, growing at a CAGR of 5.3% from 2024 to 2031. Indoor lighting management refers to systems and technologies that control lighting to optimize energy efficiency and comfort within residential, commercial, and industrial environments. These systems include components such as sensors, controllers, and smart lighting controls that allow users to adjust lighting based on factors like occupancy and daylight availability.
The report comprises the Indoor Lighting Management Market Share, Size & Industry Analysis, By Component (Hardware (Sensors, Controllers, Lighting Fixtures), Software, Services (Installation Services, Maintenance & Support Services, Consulting Services)), By Technology (Wired Lighting Control Systems, Wireless Lighting Control Systems, IoT-based Lighting Control Systems), By Control Type (Dimming Control, Occupancy-Based Control, Daylight Control, Color Control, Others), By Application (Commercial, Residential, Industrial, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024–2031.
The report contains detailed information on Indoor Lighting Management Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing focus on energy efficiency and sustainability drives the market, while interoperability issues pose challenges, hindering wider adoption.
Segmental Analysis :
By Component, the market is segmented into Hardware, Software, and Services.
- Hardware led the market with a 65.38% revenue share in 2023, driven by the high demand for components like sensors and controllers that optimize lighting based on environmental conditions.
- Services are expected to register the fastest CAGR due to the increasing need for installation, maintenance, and consulting services as lighting systems grow in complexity.
By Technology, the market includes Wired Lighting Control Systems, Wireless Lighting Control Systems, and IoT-based Lighting Control Systems.
- Wired Lighting Control Systems held the largest share in 2023, favored for their reliability in large commercial and industrial setups.
- IoT-based Lighting Control Systems are anticipated to grow at the fastest CAGR, driven by rising demand for connected solutions that provide real-time data for energy efficiency.
By Control Type, the market is divided into Dimming Control, Occupancy-Based Control, Daylight Control, Color Control, and Others.
- Dimming Control dominated in 2023, enabling energy savings and providing adaptable lighting solutions across sectors.
- Occupancy-Based Control is expected to grow rapidly, driven by its effectiveness in reducing energy waste by adjusting lighting based on occupancy.
By Application, the market segments include Commercial, Residential, Industrial, and Others.
- Commercial applications accounted for the largest share in 2023, as offices, retail spaces, and hospitality venues adopt smart lighting for energy savings.
- Residential applications are projected to grow at the fastest CAGR due to increasing adoption of smart home technologies and energy-efficient solutions.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific is expected to witness robust growth, driven by urbanization and smart city initiatives in China, India, and Japan.
- North America leads in market size, bolstered by energy efficiency regulations and high adoption of smart home technologies.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 21,424.83 Million |
| CAGR (2024-2031) | 5.3% |
| By Component | Hardware (Sensors, Controllers, Lighting Fixtures), Software, Services (Installation, Maintenance, Consulting) |
| By Technology | Wired, Wireless, IoT-based Lighting Control Systems |
| By Control Type | Dimming, Occupancy-Based, Daylight, Color Control, Others |
| By Application | Commercial, Residential, Industrial, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Indoor Lighting Management Industry:
- General Electric (USA)
- Crompton Greaves (India)
- Osram Licht AG (Germany)
- Havells Sylvania (India)
- Osram Sylvania (USA)
- Shenzhen MR LED (China)
- Koninklijke Philips N.V. (Netherlands)
- Thorn Lighting (UK)
- Ushio Lighting Technologies (Japan)
- Zumtobel Group (Austria)
Recent Industry Developments :
- March 2024: Samsung and Philips Hue expanded their partnership to enhance TV-centered smart home experiences, enabling lighting to sync with displayed content, providing immersive viewing and gaming experiences.
- June 2024: Signify launched NatureConnect lighting at the India Light Festival, offering dynamic, biophilic lighting solutions that mimic natural sunlight to enhance well-being and productivity.
- April 2024: Lumary introduced a high-end intelligent linear lighting solution with adjustable brightness, color temperature, and music sync mode, catering to modern home environments.
- January 2024: Nanoleaf unveiled its modular Skylight at CES 2024, enabling customizable ceiling lighting layouts with vibrant color options and Matter compatibility for smart home integration.
