Top Companies in the Smart Lighting Control Systems Market | Key players Historic and Future In-depth data analysis by VMR
The Smart Lighting Control Systems Market is witnessing growth due to the rising demand for energy-efficient connected lighting controls owing to the growth in the awareness to decrease energy consumption.
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Upcoming Trends in Smart Lighting Control Systems Market
The Global Smart Lighting Control Systems Market is valued at USD 56.2 Billion in the year 2021 and is projected to reach a value of USD 108.5 Billion by 2028. The Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.60% over the forecast period. The most significant factor driving the growth of this market is the growing requirement for energy-efficient connected lighting controls due to the increased awareness to reduce energy consumption. The growing demand for intelligent street lighting systems, upcoming smart city projects in developing economies, rising adoption and decreasing cost of LEDs, and increasing awareness of worldwide consumers and governments about the importance of saving energy, along with the modernization and infrastructure development, are the major factors contributing to the growing demand for lighting control systems.
Smart lighting is an underlying concept that links three main aspects such as solid-state lighting (SSL) technologies, advanced control, and universal communication interfaces following global standards. However, this conceptualization is constantly evolving to comply with the guidelines of the next generation of devices that work in the Internet of Things (IoT) ecosystem. Modern smart lighting systems are based on light-emitting diode (LED) technology and involve advanced drivers that have features such as dynamic spectral light reproduction and advanced sensing capabilities.
Some of the key players operating in the Smart Lighting Control Systems market are listed below:
|
Company Name |
Revenue in USD |
|
Signify Holding |
$7 Billion |
|
Legrand S.A. |
$7 Billion |
|
Eaton Corporation |
$19 Billion |
|
General Electric Company |
$74 Billion |
|
OSRAM Licht AG |
$4 Billion |
|
Acuity Brands, Inc. |
$3 Billion |
|
Leviton Manufacturing Company, Inc. |
$1 Billion |
|
Lutron Electronics Co. Inc |
$684 Million |
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. The company produces Philips products, Interact connected lighting systems, and data-enabled services, deliver business value and transform life in homes, buildings, and public spaces. With 2021 sales of EUR 6.9 billion, the company has approximately 37,000 employees and is present in over 70 countries.
Legrand is a French industrial group historically based in Limoges in the Limousin region. In 2011, the firm was the largest global producer of switches and sockets, with 20% of the global market, and in cable management, generating 75% of its turnover internationally.
Eaton Corporation PLC is a multinational power management company with 2020 sales of $17.86 billion, founded in the United States with global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio.
General Electric Company is an American multinational conglomerate incorporated in New York State and headquartered in Boston. The company is listed as GE (NYSE) on the stock market.
Osram Licht AG is a German company that makes electric lights, headquartered in Munich and Premstätten. Osram positions itself as a high-tech photonics company that is increasingly focusing on sensor technology, visualization, and treatment by light.
Acuity Brands, Inc. is a lighting and building management firm headquartered in Atlanta, Georgia, with operations throughout North America and Europe, and Asia. It currently has about 13,000 employees and recorded net sales of $3.7 billion for the fiscal year 2018. The company is listed as AYI (NYSE) on New York Stock Market.
Leviton Manufacturing Company, Inc. is an American manufacturer of electrical wiring equipment in North America
Lutron Electronics is a leading manufacturer of energy-saving light, shade, and temperature controls for new and existing homes and offices. The company manufactures industrial appliances, electrical appliances, LED lighting, smart lighting, and electronics. The company has 1001-5000 employees. The company is headquartered in Coopersburg, PA.
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