The Europe lighting control system to grow at a CAGR of over 18% during 2021-2026

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New York, June 04, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Lighting Control System Market – Industry Outlook & Forecast 2021-2026” – https://www.reportlinker.com/p06079945/?utm_source=GNW

The European lighting control system market size was valued at USD 3 billion in 2020 and is expected to reach USD 8 billion by 2026, growing at a CAGR of around 18% during the forecast period. The wireless technology segment will grow at a CAGR of over 16% and will lead the Europe lighting control system market in the upcoming years. The Europe lighting control system market share is witnessing significant growth due to rapid urbanization and growing demand for a smart and comfortable lifestyle. The region sells more energy-efficient lights than less efficient ones, boosting the demand for lighting control systems. The European government strongly believes that building renovations will greatly increase Europe’s energy efficiency. The market share of LED light is estimated to cross 70% in the overall light industry in Europe in the coming years. The Smart and wired artificial lights segment are expected to fuel technological advancements and functions for lighting systems. The smart lighting market is highly competitive, and competitors are strategizing to gain higher shares.

The following factors are likely to contribute to the growth of the Europe lighting control system during the forecast period:
• Growing penetration of luminaire-level lighting control
• Rising of construction industry
• Increasing demand for energy-efficient lighting
• Rising demand from retrofit market

The report considers the present scenario of the Europe lighting control system and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

EUROPE LIGHTING CONTROL SYSTEM MARKET SEGMENTATION
The Europe lighting control system market research report includes a detailed segmentation by connection protocol, application, offerings, installation, countries. Wireless lighting control systems are designed to simplify the installation process and reduces labor cost—the snowballing adoption of smartphones creating demand for intelligent lighting control market in the European countries. Z-Wave is a major wireless standard for home control and automation that was developed in 2003. Wired connection protocols accounted for the highest share in the European market. Around 25% of energy savings and a 30% reduction in maintenance can be achieved using PLC in tunnel lighting controls. PoE segment converges electrical and communication networks into a single infrastructure and encourages massive savings from energy and space optimization to increase the efficiency of LED luminaires. The Konnex KNX protocol is used widely in continental Europe, especially Germany, Austria, and Switzerland.

The indoor segment is dominating the European lighting control system market. The commercial sector generated the highest revenue, accounting for over 55% in the indoor lighting segment. A significant rise in construction activities is surging the demand for indoor light control across Europe. In the commercial sector, offices occupy the largest share.

Transformation into modernization and infrastructural development are paving the way to install lightning control hardware. The current trend of remote-based applications is propelling the growth of lighting-based software in the European market. The software available is web-based and cloud-based. Companies selling cloud-based lighting control systems provide a range of services from monthly control leasing to simply having access to an online control portal. Software-based systems are gaining traction across Europe. The growth is primarily attributed to the higher acceptance by the end-users.

New installation is dominating the industry in European countries. The residential sector and outdoor lighting replacement are the major growth drivers. The increasing focus on the development of smart cities is rapidly emerging and propelling the demand for new lightning control installations.

Segmented by Connection Protocol
• Wired
• Wireless

Segmented by Application
• Indoor
• Outdoor

Segmented by Offerings
• Hardware
• Software
• Services

Segmented by Installation
• New Installation
• Retrofit installation

INSIGHTS BY COUNTRIES
The lighting control system market in Italy is expected to reach over USD 1 billion. Italy is making significant investments in installing LED lights and controls in public places. The city of Spoleto in Italy has recently installed around 1,000 LED lamps and a remote-control system for dimming, brightening, switching, and more. Italy to create high growth opportunity for the players to invest in the lighting control system market in Europe. The implementation of energy-efficient regulations is gradually leading in the UK. LED is gaining a significant share in terms of sales in the country. The market in the UK is estimated to grow over 16% by 2026.

Segmented by Countries
• Italy
• UK
• France
• Germany
• Spain
• Netherlands
• Denmark
• Sweden
• Portugal

COMPETITIVE LANDSCAPE
Acquisitions, collaborations, consolidation, partnerships, and integration are the core strategies followed by most manufacturers in the European lighting control system market. Companies with better technical and financial resources can develop innovative products. Legrand, Eaton, Osram Licht Group, Hubbell, Signify Holdings, Lutron Electronics, and Helvar are the leading vendors in the industry. Key players are expected to develop high functionalities and continue upgrading their products to sustain the competitive market.

Key Vendors
• Legrand
• Eaton
• Osram Licht Group
• Hubbell
• Signify Holdings
• Lutron Electronics
• Helvar

Other Prominent Vendors
• Honeywell International
• Ideal Industry
• Cree Lighting
• Dialight
• Wago
• Laviton Manufacturing
• Lightwave
• Holophane Europe

KEY QUESTIONS ANSWERED
1. How big is the Europe lighting control system market?
2. Which technology will drive the growth of the Europe lighting control system market over the forecast period?
3. What is the most significant factor driving the growth of the Europe lighting control system market?
4. Who are the key players in Europe lighting control system market?
Read the full report: https://www.reportlinker.com/p06079945/?utm_source=GNW

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