Lighting Control Sensors Market Forecast and CAGR
According to latest research study by Fact.MR, the global lighting control sensors market is predicted to surpass a value of US $ 26.06 Bn by 2031 at a CAGR of 17.5%. The demand from the end-use industries is more likely to observe a spurt in term of volume and value, due to adoption of automation technologies.
The sale from automobile and construction industries was muted in Q3 and Q4 of 2020, due to COVID-19 protocols. The demand is anticipated to provide numerous opportunities to the manufacturers in near future.
What is Driving Demand for Lighting Control Sensors?
The utilization of lighting control sensor in various industries has been surged since it results in low cost of electricity bills. The vacancy principle ensures shut off electricity supply when no one is present in the room. This is been a lucrative avenue for consumers globally.
The lighting sensors are very easy to install and user friendly, due to this property it is expected to attract a large number of consumers across the globe.
It is very convenient, the light gets automatically switch-on when someone enters the room. This whole process takes hardly 1-3ms to takes place. The high efficiency is also likely to account for noteworthy demand from the consumers' end.
Many workplaces rely upon the combination of natural sunlight and electricity supply for lighting. These sensors are very effective in this kind of environment also, in the presence of ambient light it shut off the supply and when the sunlight gets dim it automatically allows the supply and maintains proper lightening in the workplace. Due to this, the lightening control sensors are extensively used in street lights, this will lead to provide an upper edge for massive scale production.
In addition to conventional consumption in industries such as automobile, construction and others, the demand from residential purposes are also rising at a magnificent rate. The demand from residential areas is likely to surge during the forecast period.
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Infrastructure Development is Likely to Augment Lighting control sensors Sales
The expanding infrastructure development in countries such as India, China, U.K., GCC countries and others has witnessed noteworthy demand for lightening control sensors in historical years and it is more likely to follow the same trend during the forecast period.
The government investment are rising continuously for development of smart cities will lead to surge the adoption of automation in next couple of years, this will have a direct influence on the sale volume.
Lighting control sensors is also used extensively for residential purposes. It is been observed that the consumption of lightening control sensor is attributed to reduce the energy consumption. This segment of end user is likely to create significant demand in upcoming years.
North America Lighting control sensors Market Outlook
North America is one of the largest markets for lighting control sensors globally. The US lighting control sensors market is set to create significant demand from the end users during the forecast period due to government regulation for reducing CO2 emission. In addition to this the consumption of these sensors also addresses the challenge of high electricity bills in manufacturing units.
The demand from automobile sector has witnessed considerable volume since past few years. The integration of automatic sensors in automotive vehicles is anticipated to reduce the risk of accidents, this may lead to spurt the sale in automotive industries.
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Asia Pacific Demand Outlook for Lighting control sensors
Asia Pacific region is witnessing the fastest Y-O-Y growth in term of value and volume and set to lead the lighting control sensors market in upcoming years. Developing countries like India and China are investing a lot for smart city projects which is likely to drive the sale over forecast period.
The governments are also investing in infrastructure development in the Asia Pacific region. Expanding urbanization and industrialization is likely to create abundant opportunities for manufacturers in next couple of years.
The construction sector has observed a constraint in demand in early 2020 due to the COVID-19 pandemic. All the activities related to construction and manufacturing has bottlenecked and effects the sale, the production will show an optimistic growth rate in next couple of years and will provide a promising stance for investors.
Who are the Key Manufacturers and Suppliers of Lighting control sensors?
Some of the leading manufacturers and suppliers of lighting control sensors include Siemens, Panasonic Corporation, CMD ltd, OSRAM, Lightfair, Hubbell Control Solutions, GE Lighting, Functional devices, lnc, Fresco, Energetic lighting, Edge light, Eclipse lighting, Eaton, DTL, Cree, Inc., Acuity Brands, Philips, Cisco and other prominent companies.
Many leading manufacturers are looking forward for the advancement of lighting control sensor technology. Highly efficient products are the main point of attraction for the end users. In addition, several advancement such as wireless and bluetooth technologies are attracting a lot of consumers across the globe.
An Adaptive Approach to Modern-day Research Needs
Lighting Control Sensors Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Ballasts& LED Drivers
- Transmitters& Receivers
- Dimmers& Switch Actuators
By Connectivity Type
- Ambient Light
By Distribution Channel
- Specialty Stores
- Multi-brand Stores
- Retail Sales
- Distributor Sales
- E-commerce Websites
- Company-owned Websites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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