Lighting companies must focus on controls and networked lighting systems to add value for residential consumers
A new report from Navigant Research examines the global market for residential energy efficient lighting and lighting controls, with a focus on light-emitting diode (LED) lamps and luminaires, providing forecasts for unit shipments and revenue, segmented by region, lamp type, product type, and building type, through 2025.
With prices still declining, LED lighting continues to gain market share in the residential sector as inefficient, incandescent technology is phased out. The controllability and customizability that LED technologies offer is expected to spur adoption rates of LEDs and of lighting-only home networks that allow users to control home lighting systems with their smartphones, tablets, or personal computers. Click to tweet: According to a new report from @NavigantRSRCH, revenue associated with the installation of residential lighting controls is expected to experience a compound annual growth rate of 4.6 percent between 2016 and 2025.
“The residential market has not seen the demand for connected lighting controls that the commercial and industrial markets have,” says Benjamin Freas, principal research analyst with Navigant Research. “But, as these controls continue to be better integrated into the broader home automation ecosystem, consumers will notice.”
According to the report, lighting companies must focus on controls and networked lighting systems to add value for consumers. This will become increasingly important, as the overall growth rate for residential lighting revenue is expected to decrease in coming years due to the adoption of long lamp life technologies and the declining prices of these technologies.
The report, Market Data: Residential Energy Efficient Lighting and Lighting Controls, analyzes the global market for residential energy efficient lighting and lighting controls. The study focuses on LED lamps and luminaires while also forecasting sales for three other lamp technologies—incandescent, halogen, and fluorescent. Several controls devices are assessed, as well, including occupancy sensors, photosensors, timers, dimmers, and lighting-only networks. Global market forecasts for unit shipments and revenue, segmented by region, lamp type, product type, and building type, extend through 2025. The report also examines the key trends and market drivers and barriers related to residential energy efficient lighting and lighting controls. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Residential Energy Efficient Lighting and Lighting Controls, is a summary and reflects Navigant Research’s current expectations 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 Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.