Networked Lighting Controls Will Surpass $5.3 Billion in Annual Revenue by 2020, Forecasts Navigant
Networked Lighting Controls Will Surpass $5.3 Billion in Annual Revenue by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- The market for lighting controls in commercial buildings has entered a period of dramatic transformation, as the demand for both local controls, such as occupancy sensors and photosensors, and networked controls, rises and the adoption rate of light-emitting diode (LED) lighting systems begins to climb as well. According to a new report from Navigant Research, worldwide revenue from networked lighting controls will grow from $1.7 billion annually in 2013 to more than $5.3 billion by 2020.
"Building owners and managers, who are accustomed to the idea of centrally monitoring and managing their heating, ventilation, and air conditioning systems, are beginning to expect the same level of control from lighting systems," says Jesse Foote, research analyst with Navigant Research. "To meet this growing demand, a number of different types of vendors - including pure-play startup companies and traditional lighting vendors - are moving aggressively into the lighting controls market."
As falling prices for LEDs drive up adoption rates of LED lamps, the adoption of lighting controls will also accelerate, the study concludes. The semiconductor nature of LEDs makes them inherently controllable, with a high degree of dimmability, easy integration of controls with drivers, and instantaneous startup. In fact, many LED lamps are being sold with built-in controllability, whether or not there are plans to make use of those features.
The report, "Intelligent Lighting Controls for Commercial Buildings", analyzes the global market for lighting controls for commercial buildings, including both new construction and retrofits. Sensors, ballasts, drivers, switches, relays, controllers, and communications technologies are examined, with a specific focus on networked lighting controls. The report details the market drivers for these technologies, as well as barriers to adoption, and includes profiles of select industry players. Market forecasts for unit shipments and revenue for each type of equipment, segmented by region and building type, extend through 2020. Forecasts are also broken out for control equipment in buildings with networked lighting controls, as well as for wireless lighting controls and LED drivers. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Intelligent Lighting Controls for Commercial Buildings," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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