According to a research report titled ‘Global Intelligent Lighting Control System Market 2019-2027’ available with Market Study Report, global intelligent lighting control market is anticipated to grow at a year-over-year rate of 14.93% throughout 2019-2027.
 

As per the research findings, intensifying focus on energy consumption and conservation coupled with rising adoption of green technology are boosting worldwide intelligent lighting control industry growth. Furthermore, factors such as increasing requirement for energy management in developed countries, and surge in demand for smart homes are likely to stimulate industry development in the upcoming years.
 

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Notably, lighting control systems are more cost-effective as compared to traditional manual switching systems, and also have the ability to achieve longer lamp life by dimming or switching off the product. Lighting control systems utilize sensors and wireless technology for controlling lighting systems in a residence, thereby providing better comfort and efficiency to system owners.
 

Coming to the challenges pervading the global intelligent lighting control system industry sphere, high initial investments requisites and long breakeven periods are anticipated to impede product demand. Furthermore, dearth of skilled professionals, system compatibility issues, and inadequate system integration are also expected to slow down industry growth during the forecast period.
 

Based on application ambit, global intelligent lighting control system market is arrayed into outdoor, commercial, industrial, residential and automotive sectors. Of these, industrial segment has been seeing exponential growth in the recent past.
 

By connection type, the industry is split into wired and wireless. The wireless lighting control system sector is anticipated to rapidly penetrate this domain in the upcoming years.
 

Moving on to component type, the business sphere comprises switches & dimmers, ballasts & led drivers, microprocessors & microcontrollers, transmitters & receivers and sensors.
 

Lastly, by light source, the industry is categorized into fluorescent lamps, high intensity discharge lamps and light emitting diode lamps.
 

On the regional front, Asia Pacific accounts for a substantial portion of global intelligent lighting control system market share owing to increased demand for clean energy sources and strong prevalence of smart homes in countries like Japan.
 

Speaking of the competitive landscape, Control4 Corporation, Acuity Brands, Inc., Eaton Corporation plc, General Electric Company, Hubbell, Inc., Cree, Inc., Enlighted, Inc., Leviton Manufacturing Company, Inc., Lutron Electronics Company, Honeywell International, Inc., Koninklijke Philips N.V., Legrand S.A, Osram Licht AG, LSI Industries Inc., and Schneider Electric SE are top contenders influencing the global intelligent lighting control system market dynamics.