CONNECTED INDOOR LIGHTING MARKET TO REACH $12 BILLION BY YEAR 2022
Strategies Unlimited has now released its new market research report, Connected Indoor Lighting: Market Analysis and Forecast 2015.
Mountain View, CA / November 16th, 2015 —Strategies Unlimited has now released its new market research report, Connected Indoor Lighting: Market Analysis and Forecast 2015. By leveraging its experience in the lighting market, Strategies Unlimited provides detailed analysis of the wired and wireless lighting technologies being used in the indoor application, along with comparison of LED versus traditional lighting sources. This report foresees 25% revenue growth for the total indoor connected lighting market from 2014 to 2022. The wireless portion is forecast to grow at 31% during the forecast period.
With the rise of environmental issues such as energy conservation and reduction of noxious gas due to energy production, regulation of lighting has been on the forefront of many regions, states, and cities. Since lighting can be the largest operating cost of commercial buildings in the U.S., it is easily an area of opportunity, and many energy policies and regulations are already in effect or being developed to regulate the climbing energy consumption due to lighting.
LED has become a very viable alternative to other lighting technologies due to its longevity, reduced watt consumption, and the fact that there is no anticipated phase out or ban on LEDs in the near future as they have limited harsh components and chemicals to recycle after the product fails. LEDs also offer many opportunities to be integrated/ embedded with controls; this is paving the way to have more light controlling and monitoring abilities that were not available before. The raising interest in controlling our lights has engendered many lighting and communication technology/controls companies to swamp to the lighting market and capture as much share as they can of this new budding market.
As the penetration of LED luminaires increases in the lighting installed base, end-users are looking to optimize the return on their solid state investments by coupling their lighting systems with lighting controls. With the ability to now not only control the light operation of their lighting systems, many customers are making operational changes by using monitored lighting data and also keeping track of their lighting assets and functionality of lighting equipment.
These investments in sophisticated connected lighting systems are not always being driven by foresight of end-users; regulatory influences are affecting decisions of many private and public facilities and entities. Mandates such as Title 24 (in California), are pushing connected lighting into the forefront. Such regulations require the installation of lighting controls for new construction, retrofits, and major renovations.
The figure below shows the forecast growth of connected indoor lighting. This aggressive growth will be driven by the demand to mitigate energy consumption of the growing population, meet federal and/or city/state level regulations regarding environmental impact, and reduce operational and maintenance costs.
TheConnected Indoor Lighting: Market Analysis and Forecast 2015 offers insight into the various popular lighting technologies currently in the market. The technologies covered in this report are:
· Power line Communication
· Power over Ethernet
· Proprietary/ Other Lighting Protocols
· Hybrid Systems
The report evaluates the connected lighting market for the different facets of the industry that have different lighting behaviours, lighting preferences, regulatory forces, competitive landscape and more. Parameters of the report include a detailed breakdown of the lighting market by the following regions:
· North America
· Western Europe
· Rest of the World
About Strategies Unlimited
Strategies Unlimited, a division of PennWell Corporation, is the world leader in market research in LEDs and lighting, lasers and photonics devices, and beyond. With a unique blend of in-depth historical market knowledge and technological expertise, Strategies Unlimited produces highly detailed market reports, custom studies, and provides consulting services. Additionally, Strategies Unlimited presents industry events, including the Strategies in Light series and The LED Show, to large audiences worldwide. For additional information about Strategies Unlimited, contact Tim Carli or visitwww.strategies-u.com.
About PennWell Corporation
Founded in 1910 in Tulsa, Oklahoma, PennWell Corporation is a privately held and highly diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power generation and delivery, hydropower, renewable energy, water and wastewater treatment, waste management, electronics, semiconductor manufacturing, optoelectronics, fiber-optics, aerospace and avionics, LEDs and lighting, fire and emergency services, public safety, and dental. PennWell publishes over 130 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, websites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; London, England; Houston, Texas; San Diego and Mountain View, California; Fairlawn, New Jersey; Moscow, Russia; and Hong Kong, China. For additional information about PennWell Corporation, visitwww.pennwell.com.