APAC to hold major share of lighting control system market during forecast period

APAC accounted for a major share of the lighting control system market in 2018. APAC is expected to be the fastest-growing region for the  market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for lighting control systems in the Asian countries.

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Major players in the lighting control system market are Signify Holding (Signify, Netherlands), Legrand S.A. (Legrand, France), Eaton Corporation (Eaton, Ireland), General Electric Company (GE, US), and OSRAM Licht AG (OSRAM, Germany). Other players operating in the market include Acuity Brands, Inc. (Acuity, US), Leviton Manufacturing Company, Inc. (Leviton, US), Lutron Electronics Co. Inc. (Lutron, US), Ideal Industries Inc. (Ideal Industries, US), Schneider Electric (Schneider, France), and Honeywell International Inc. (Honeywell, US).

Signify Holding (Netherlands) is an industry leader in the lighting market space. The company’s market experience and brand name allow it to capitalize on the fundamental market dynamics taking place in the lighting industry and deliver innovative solutions that create value and ensure its growth. The company aims to further invest in connected lighting systems to win contracts related to the supply of connected lighting systems and other lighting control equipment. The company also adopts the strategy of an acquisition. For instance, in April 2019, it acquired WiZ Connected—developer of the WiZ Wi-Fi-based connected lighting ecosystem. This acquisition will allow Signify to extend its leadership position in the Wi-Fi-based smart lighting market.

To maintain its leadership in the lighting control system market, Signify Holdings could consider revised competitive pricing for its products in the connected lighting space to compete with regional solution providers. Also, with the growing innovations in voice-controlled lighting systems, the company could focus on developing voice-controlled lighting control solutions. Also, it could leverage its early-mover advantage in emerging lighting applications, such as solar lighting, horticulture lighting, human-centric lighting, and specialty lighting.