“The light management system market is projected to grow at a CAGR of 13.03%, from 2018 to 2023.”
The light management system market is projected to grow from an estimated USD 11.66 billion in 2018 to USD 21.51 billion by 2023, at a CAGR of 13.03%, from 2018 to 2023. The increasing adoption of energy-efficient lighting driven by cost savings and government policies worldwide is boosting the market for light management systems across the world.
“The indoor segment is expected to account for the largest share of the light management system market, by application, during the forecast period.”
Indoor light management systems are predominantly used in the commercial sector due to factors such as energy-efficiency and cost savings. Light management systems form a key part of building automation systems. The markets in Asia Pacific, North America, and Europe are expected to grow exponentially due to the increasing demand for indoor light management systems from commercial end-users in China, India, the US, and Germany.
“North America: Key market for light management systems.”
North America is the largest market for light management systems, followed by Europe and Asia Pacific. The North American market is expected to grow at a CAGR of 13.24%, from 2018 to 2023. The market for light management systems in the US is expected to be driven by increasing office and commercial space developments and the need for flexible control of lighting systems as well as energy savings.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 56%, Tier 2- 28%, Tier 3- 16%
- By Designation: C-Level- 25%, D-Level- 35%, Others- 40%
- By Region: North America- 30%, Europe- 25%, Asia Pacific- 20%, South America- 15%, Middle East & Africa- 10%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The report provides a picture of the light management system market across multiple segments and regions. It aims at estimating the market size and future growth potential of the market across different segments such as type, application, end-user, function, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
For the purpose of this report, the market has been segmented on the basis of type, application, end-user, function, and region with a focus on industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles, which together comprise the basic views on the competitive landscape, emerging and high-growth segments of the light management system market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the light management system market
Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the market for light management systems across regions Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global light management system market
Why buy this report?
1. The report identifies and addresses key markets for the implementation of light management systems, which would help manufacturers review the growth in demand.
2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.