Market barriers include costs and complexity of lighting control systems
BOULDER, Colo., July 18, 2023 /PRNewswire/ — A new report from Guidehouse Insights explores the global market for lighting controls in commercial and industrial (C&I) buildings.
Advanced lighting control strategies, such as time scheduling, occupancy sensing, and daylight harvesting, have the potential to reduce lighting energy consumption substantially in C&I buildings. According to a new report from Guidehouse Insights, the global lighting controls market for occupancy sensors, photosensors, multifeature sensors, relays, and switches is expected to grow from $7.4 billion in 2023 to $10.8 billion in 2032, at a compound annual growth rate (CAGR) of 4.3%.
“As energy efficient LED lighting systems become increasingly widespread and opportunities to improve light source efficiency become more limited, increased proliferation of lighting controls can become an important mechanism for reducing the energy consumed by lighting,” says Wendy Davis, senior research analyst with Guidehouse Insights. “Energy and building codes mandating the use of lighting controls in C&I buildings strongly drive this market. Efforts to reduce energy consumption and concomitant greenhouse gas (GHG) emissions have resulted in the adoption of increasingly stringent codes that apply to a broader range of building projects.”
While this market has considerable growth potential, multiple challenges limit the size of the lighting controls market over the next decade. Energy and building codes are increasingly mandating the use of lighting controls in C&I, which is fueling growth in lighting control deployments, but the industry faces resistance to the total cost of lighting controls system installation and concerns about how the complexity of these systems will impact building operations, according to the report.
The report, Lighting Controls for Commercial and Industrial Buildings, analyzes the global market for controls in C&I buildings with respect to five types of lighting control equipment: occupancy sensors, photosensors, multifeature sensors, relays, and switches. The study analyzes market drivers and barriers, and issues recommendations to industry stakeholders for increasing the proliferation of lighting controls. Analyses of lighting controls revenue through 2032 are segmented by global region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), commercial building type (office, retail, education, healthcare, hotels & restaurants, institutional/assembly, warehouse, transport), industrial building type (metals, transportation & machinery; petroleum & chemical; food, beverage, & tobacco; electronics; plastics & rubbers; wood & paper; apparel & textiles; other), and construction type (new construction, retrofit). An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Lighting Controls for Commercial and Industrial Buildings, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
cfradkin@scprgroup.com
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