The global light management system market is anticipated to grow at a significant CAGR of 11.6% during the forecast period (2022-2028). To save electricity and manage energy usage efficiently, a light management system is used to control the light installations in a building. The system consists of a loop of sensors that aid in the manual and remote regulation of light luminescence. These technologies are used to regulate the amount of light emitted per square foot. The integration of the internet of things (IoT) in energy management solutions had increased the demand for smart light applications. Moreover, increased awareness of energy efficiency and savings are contributing significantly towards the market growth.
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North America is a prominent market for light management systems due to the increased focus on cost-cutting and environmental concerns. The demand for light management systems in industrial, commercial and office buildings in this region has increased due to increased efficiency and automation. According to estimates, conventional high-intensity discharge sources account for 80% to 90% of light in the industrial sector in the US, however, this number is steadily declining as more efficient and environmental friendly LED-based light management systems take their place. LED lights can last up to 2-4 times longer than metal halide or sodium vapor light.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In February 2022, Fluence, a global manufacturer of energy-efficient LED lighting solutions for commercial cannabis and food production, introduced Wireless Flex Dimming, the latest addition to its revolutionary lighting controls portfolio. Fluence luminaires can dim light levels wirelessly using an industry-standard 0-10V dimmer or environmental controller through the use of cutting-edge Bluetooth mesh technology.
- In June 2019, LG Electronics launched the LG Smart Lighting Manager (SLM), a Tier 3 solution that gives end-users greater flexibility and scalability as a cost-effective alternative to full-scale building management systems.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Component
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Legrand, Osram Licht AG, Schneider Electric SE, Honeywell International, Inc. and Siemens AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Light Management System Market Report by Segment
By Component
- Daylight Sensors
- Occupancy Sensors
- Programmable Ballasts
- User Interfaces
- Others
By Application
- Residential
- Commercial
- Industrial
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