Lighting Control System Market Trends

Growth Drivers

• Growing Focus to Reduce Carbon Footprint: Switching off the lights when not in operation is a popular way to reduce one's carbon footprint. By switching off the lights, it is possible to reduce greenhouse gas emissions, particularly carbon dioxide emissions. This will be easy to accomplish if a smart lighting management system that makes utilization of several technologies is installed. The market for lighting control systems is therefore expected to grow quickly in the years to come.
• Rising Adoption of IoT & Other Smart Devices: Smart lighting enables users to control the lights in their homes or places of business using a smartphone, smart home platform, or IoT-enabled sensors, bulbs, or adapters. Therefore, further with the growing adoption of smartphones, the market is also estimated to grow. In 2023, there are expected to be about 5 billion smartphone users worldwide, which equates to approximately 84% of the world's population owning a smartphone.
• Surge in Smart Cities Initiatives: The development of a smart lighting control system in a smart city is a subject that attracts the attention of several scholars from around the world. The implementation of a lighting control system can offer fantastic solutions that raise the livability of smart cities and their residents' standards of living. It is therefore envisaged that it will offer profitable opportunities for market expansion.

Challenges

• High Initial & Development Cost - The widespread adoption of the lighting control industry is being constrained by the high initial cost along with the cost of integration and maintenance services. Additionally, gateways, power relay devices, and expensive software must be purchased for lighting control systems. This factor has an impact on the expansion of the lighting control market. Incorporating the lighting control system with other devices is also getting more expensive. Hence, compared to conventional lighting systems, the cost of electronic components and installation is significantly higher.
• Complex Installation & Integration Process
• Concern for Cybersecurity