Global Lighting Management Systems Market- Market Analysis by Geography, by components and application, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)
Category by- Energy and Power , No. of Pages - 134, Published By - Mordor Intelligence
Environmental Impact of fossil fuels, unreliable grid systems and plans to phase out nuclear generation (after Fukushima Nuclear Disaster) have nudged the governments in Europe and Japan towards more efficient power generation/consumption technologies and energy management systems. With helping hand from governments, companies made rapid strides in demand side management systems. As of now, twenty two percent of electricity in residential and commercial sectors is consumed by lighting systems; this led to the development of lighting management systems.
Factors spurring the lighting systems market are: increasing demand for smart applications and internet of things, government encouragement couple with advantages of LMS like functionality and convenience. On flipside, fear of technological obsolescence, initial costs, maintenance issues and consumer adaptability are strangling the market. If the market can overcome these challenges lighting management systems have plethora of opportunities in retro fitting segment. Intelligent lighting controls systems have a huge market presence in both North America and Western Europe.
This report comprehensively analyzes the Lighting Management Systems market by segmenting it based on geography, components (sensors, user interface and lighting sources) and application (industrial, commercial and residential). Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.