According to the recent research report titled ‘GLOBAL Intelligent Lighting Control System Market 2021-2028’, available with Market Study Report, global intelligent lighting control system market size is projected to expand at 14.33% CAGR during 2021-2028.
 

Increasing cognizance about technology, surging cost of electricity, and support from government are the key factors stimulating global intelligent lighting control system market growth. In addition, popularity of wireless lighting control systems, and rising adoption of smart homes are also contributing to the overall market outlook.
 

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The report cites that smart building solutions are more appealing to commercial property owners as these devices are more effective and simpler to manage. The lighting control technology has been reformed as a result of government rules promoting energy-efficient products and the implementation of new technical solutions, thereby adding to the industry potential.
 

Speaking of the restraints, lack skilled workforce, complications in system integration, along with long breakeven period as well as hefty initial investment are anticipated to impede worldwide intelligent lighting control system industry expansion.
 

With respect to connection type, worldwide intelligent lighting control system industry is split into wireless, and wired. Based on light source, the market is segmented into high-intensity discharge lamps, light emitting diode lamps, and fluorescent lamps.
 

Moving on to component terrain, the industry is bifurcated into transmitters & receivers, switches & dimmers, microprocessors & microcontrollers, ballasts & LED drivers, and sensors. Based on application scope, the market is categorized into automotive, industrial, residential, outdoor, and commercial.
 

From the regional perspective, Asia Pacific intelligent lighting control system industry is expected to gain significant traction through 2028, creditable to emphasis on lowering energy consumption, reducing maintenance costs, along with increasing resistance against light pollution. Besides, expanding retail and construction industries, coupled with rapid industrialization, and soaring electricity requirements are boosting the product adoption.
 

Major organizations swaying global intelligent lighting control system market dynamics are Schneider Electric SE, Signify N.V. (previously Philips Lighting), OSRAM GmbH, Lutron Electronics Co. Inc., LSI Industries Inc., Leviton Manufacturing Co. Inc., Hubbell Incorporated, Honeywell International Inc., Eaton Corporation plc, and Cree Inc. among others.
 

Of these, Cree Inc. produces LEDs and semiconductors with a large bandgap for use in RF applications. Power switching products, high-brightness LEDs, lighting-class power LEDs, and other items are among the company's diverse product offerings. Furthermore, its solutions improve a range of applications, such as electronic signs, backlighting, wireless communications, and general illumination.