According to research firm TechNavio, the Global Lighting Control System Market is expected to post a CAGR of 12.5 percent from 2014-2019.
The latest report by TechNavio highlights the increased focus on energy conservation, which is expected to have a direct influence on the market during the forecast period. The report indicates that concerns about energy conservation have led to increased adoption of energy-efficient systems like advanced lighting controls.
These systems are primarily used in residential, commercial, industrial and outdoor applications, where lighting needs to be monitored and set according to necessity.
“Lighting control systems ensure energy savings and help minimize waste, which is a major factor expected to have a positive impact on overall market growth through the projected period,” says Faisal Ghaus, Vice President of TechNavio.
Additionally, market vendors are investing heavily into the R&D of lighting control systems that are energy-efficient and compatible with building controls. Some countries and various agencies like LEED, BEE and BREEAM are involved in research to develop, commercialize, and standardize these systems worldwide.