Lighting Management System Market

Lighting Management System Market Value & Growth Rate:

The Global Lighting Management System Market was valued at US$ 11.67 billion in 2021 and is anticipated to reach at US$ 21.56 billion by 2026 and increasing with a CAGR of 13.04% during 2022 - 2027.

Lighting Management System Market Scenario:

To save electricity and manage energy usage efficiently, a lighting management system is used to control the lighting installations in a building. The system consists of a loop of sensors that aid in the manual and remote regulation of lighting luminescence. These systems are used to regulate the amount of light that is emitted per square foot. Lighting Management System (LMS) is a comprehensive lighting control automation system based on occupancy/daylight. The settings are simple to program, allowing you to build your own lighting sequences. The technology also allows for communication between multiple lighting sources in order to assure building operation.

Lighting control is defined as the human or automatic switching or dimming of a lighting source. As a result, lighting control becomes an important part of a building's lighting management. Lighting Management System covers lighting control as well as recording and monitoring lighting status in a facility, as well as facilitating interface with other building utilities. Panelboards, dimming controls, addressable controls, and relay-based systems are the four most popular forms of lighting controls. Lighting control, in addition to employing energy-efficient lighting and manual or sensor-operated switches, is an excellent approach to save energy.

Lighting Management System Market Drivers and Restraints:

The emergence and increasing usage of the Internet of Things (IoT) and its application in energy management solutions, as well as an increase in demand for smart lighting applications, increased awareness of energy efficiency and savings, and increased penetration of energy management solutions, particularly at the workplace, are driving the global lighting management system market. Furthermore, the advent of government programs to promote energy efficiency is a major element driving the industry forward. Furthermore, the high demand for infrastructure development and forthcoming smart city initiatives contribute to the global lighting management system market's good outlook. To save energy in specific building regions, lighting control technologies such as task tuning, daylight harvesting, occupancy sensing, scheduling, and dimming can be integrated. These techniques, in addition to saving energy, greatly improve the ambiance of a space. Therefore, it is common for residential, commercial, and industrial buildings to cut energy use by combining these tactics.

However, the global lighting management system market's growth is limited by a lack of technical handling knowledge and a costly initial investment and maintenance cost. The house lighting control system may fail, not work properly, or not work at all if it is improperly designed or installed. The lighting management system in a home is a complicated system with far too many complexities for a non-expert to handle. As a result, efficient installation necessitates the services of qualified experts, which, aside from increasing the cost, can cause significant difficulty because finding an expert might be difficult, which further limits the global lighting management system market growth. Furthermore, home lighting control systems are not only expensive to buy and install, but they are also pricey to maintain. Even though they endure a long time when correctly placed, they may require one or two adjustments to keep them from malfunctioning. In such circumstances, like acquiring them, purchasing necessary parts for adequate maintenance can be quite costly. Therefore, these are the significant factors that further hamper the global lighting management system market growth.

Recent Developments in the Global Lighting Management System Market:

On June 5^th, For Net Zero Energy Office, General Electric, delivered a complete LED lighting and controls solutions.

REPORT COVERAGE:

Lighting Management System Market Segmentation: 

By Component:

• Occupancy sensors

• Daylight sensors

• User interfaces

• Programmable ballasts

• Others

Based on Application, occupancy sensors is expected to have the largest global lighting management market share during 2022 - 2027. Occupancy sensors are lighting controls that automatically switch off lights in unoccupied places, lowering energy costs and decreasing waste. Light pollution can also be reduced by turning off home and outdoor lighting. When space is inhabited, many occupancy sensors can turn on lights automatically, offering low-cost security for both indoor and outdoor areas. Sensors are a must-have in energy-efficient buildings because of these properties. Occupancy sensors are ideal for projects that demand granular control, which can be difficult to do cost-effectively utilizing scheduling. They're also good for spaces that are only sometimes occupied, such as those that are idle for two hours or more per day and where the lights are left on. Therefore, these significant factors tend to increase the global lighting management market growth in the upcoming years.

By Application:

• Industrial

• Residential

• Commercial

Based on Application, industrial sector is anticipated to dominate the global lighting management system market during the forecast period. Light management systems perform well in cold and hot climates and are unaffected by on/off cycling. This makes them safer and more efficient in interior applications like refrigerator lights, cold room lights, offices, industrial plants, and applications that require frequent light switching on and off. In addition, lighting management systems are becoming a more cost-effective solution due to their increased efficiency and lower costs. The global lighting management system market is expected to be driven by the expanding construction industry during the projected period, particularly in emerging countries.

Lighting Control Systems have shown to be effective and cost-effective in various indoor and outdoor applications, ranging from industrial to commercial. The market is projected to be driven by favorable government policies and the energy-saving capabilities of Lighting Management Systems.

Lighting Management System Market Regional Analysis: 

The Global Lighting Management System Market Report includes the segmentation of Regions:

• North America is a prominent market for lighting management systems because of the increased focus on cost savings and environmental concerns. The need for lighting management systems in industrial, commercial, and office buildings in the region has increased due to increased efficiency and automation. According to estimates, conventional high-intensity discharge sources account for 80 percent to 90 percent of lighting in the industrial sector in the United States, although this is steadily declining as more efficient and environmentally friendly LED-based lighting control systems take their place. Moreover, LED lights have been shown to last up to 2-4 times longer than metal halide or sodium vapor lighting. As a result of rising concerns about energy efficiency, environmental concerns, and cost savings, the market for lighting management systems in North America is predicted to expand over the forecasted period.

• The essential factors driving the APAC Lighting Management Systems market are rising awareness about energy-efficient goods, technological developments, and supporting government policies. In addition, infrastructural activities, such as India's "Smart City Mission" and future international events like the Tokyo Olympics 2020, are primarily responsible for expanding lighting management systems in the Asia Pacific.

• The market for lighting management systems in Europe is expected to expand during 2022 - 2027. In Europe's lighting management systems industry, the United Kingdom accounts for a significant portion of demand. The UK government has launched several projects to encourage the use of lighting control systems for energy conservation, including "Horizon 2020," European cooperation on smart cities and smart grids.

• Middle East & Africa

• Latin America

Impact of COVID-19 on Lighting Management System Market:

COVID-19's quick outbreak has had a substantial detrimental influence on the Lighting Management Systems industry's demand. Moreover, because of the travel ban, lockdown initiative in various countries and government restrictions on several firms are the major factors that are primarily responsible for the negative impact on lighting management systems market during the corona crisis.

Lighting Management System Market Key Players:

The companies covered in the report include:

1. Schneider Electric

2. General Electric Corporation

3. OSRAM Licht AG

4. Siemens AG

5. LG Electronics

6. Legrand

7. Koninklijke Philips N.V.

8. Lutron Electronics Co. Inc.

9. Leviton Manufacturing

10. Legrand North America, LLC