Global Light Management System Market 2018-2022 | Rise in Home Automation to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--Aug 27, 2018--The global light management system market is expected to post a CAGR of close to 14% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global light management system market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing adoption of energy-efficient light sources. The rising awareness regarding energy crisis has led to an increase in the adoption of light management systems. Lighting requires a high amount of energy. Therefore, there is a requirement of efficient light sources and controls, which can reduce energy consumption.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rise in home automation as one of the key emerging trends in the global light management system market:
Global light management system market: Rise in home automation
Home automation systems control the lighting, entertainment systems, appliances, and climate of a building. Additionally, they may include home security systems such as access control and alarm systems. Owing to factors including substantial advances in the IoT industry, the preference of smart homes will increase, fueling the adoption of home automation systems.
“Light management systems play an important role in smart homes. Sensor-based automated control systems have sensors, which are usually used to control lighting depending on room occupancy and the levels of ambient light,” says a senior analyst at Technavio for research on semiconductor equipment.
Global light management system market: Segmentation analysis
This market research report segments the global light management system market by end-user (residential and commercial), by type (analog light management systems and digital light management systems), and geography (the Americas, APAC, and EMEA).
The residential segment held the largest market share in 2017, accounting for nearly 57% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 46% of the market share, followed by EMEA and APAC respectively. The market share of the Americas is anticipated to increase by almost 2% by 2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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