According to the recent research report titled ‘Global Power over ethernet Lighting Market Size study, by Offering (Hardware, Software and services), by Wattage (Up to 25 Watt, Above 25 Watt), by Applications (Commercial, Industrial, Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global power over ethernet lighting market was remunerated at USD 186.1 million in 2020 and is projected to register a CAGR of 30.6% over 2021-2027, subsequently amassing USD 1.20 billion by the end of the assessment period.
 

Global power over ethernet lighting market growth is primarily driven by surging demand for security and access control application, along with rising government investment in smart city and towns.
 

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Notably, lighting holds around 5% of the average household's energy budget. The fastest ways to reduce energy expenditures is to switch to energy-efficient lighting. As LEDs are reliable, highly effective, and long-lasting, their usage in both outdoor and indoor environments is projected to increase.
 

These lights are more cost-effective than incandescent lamps, offering roughly 50,000 hours of lighting for a minimal amount of electricity. The low operating costs and reduced heat loss makes them a viable substitute for incandescent lights.
 

Technological advancements, transition from conventional to green lighting, and improved energy-efficiency standards have all raised consumer demand, further fueling worldwide power over ethernet lighting industry development. According to the International Energy Agency, LED sales in 2019 exceeded 10 billion units across all light sources (bulbs, tubes, modules), and luminaires.
 

Considering restraints, restrictions on export import activities due to the outbreak of COVID-19 pandemic, and hefty cost of installation and PoE (Power over Ethernet) accessories are anticipated to hamper the industry expansion.
 

Regionally, Latin America, Asia Pacific, Europe, and North America are the top contributors to the overall market remuneration. Among these, North America currently holds considerable market share, owing to wide usage of connected lighting systems in various applications, especially in workplaces.
 

Meanwhile, Asia Pacific industry is expected to record a robust CAGR over 2021-2027, creditable to rising commercial and industrial buildings, smart offices, along with strong presence of several lighting manufacturers. Moreover, availability of affordable land for manufacturing facilities and new commercial space construction are propelling the regional market expansion.
 

Major contenders in global power over ethernet lighting marketplace are Ubiquiti Networks Inc., ALLNET GmbH, H.E. Williams Inc., Herbert Waldmann GmbH & Co. KG (Waldmann Lighting), Ideal Industries Inc. (Cree Lighting), Deco Lighting, Hubbell Inc., Innovative Lighting (Genisys), and Signify N.V. (Philips Lighting N.V.).