Worldwide Market for Residential Lighting Controls Expected to Reach $1.1B By 2023
A recent report from Navigant Research analyzes the global market for residential energy-efficient lighting and lighting controls, including global market forecasts for light-emitting diodes (LEDs), incandescent, halogen, and fluorescent lighting through 2023.
The market for residential energy-efficient lighting is in the midst of a transformation, particularly as prices for LEDs decrease and new lighting technologies emerge. Many residential applications center on LEDs that are connected, allowing for the remote control of and interaction between devices. According to a recent report from Navigant Research, worldwide shipments of residential lighting controls are expected to total nearly 1.1 billion worldwide from 2014 through 2023.
“The home energy management and home automation movements are ramping up, and smart lighting plays an important role in both,” says Jesse Foote, senior research analyst with Navigant Research. “Residential consumers are finding that connected lighting is a convenient way to manage energy and to also tie in elements of safety, security, and functionality – sometimes with just a couple swipes of a smartphone.”
LEDs are expected to gain additional traction as many countries start to phase out or ban incandescent bulbs. Though alternatives, such as compact fluorescent lights (CFLs), tend to be less expensive, LEDs present fewer health concerns and offer better performance, according to the report.
The report, “Residential Energy Efficient Lighting and Lighting Controls,” analyzes the global market for residential energy efficient lighting and lighting controls. It focuses on LED lamps and luminaires while also forecasting sales for three additional lamp technologies – incandescent, halogen, and fluorescent – as well as a number of control devices, including occupancy sensors, photosensors, timers, dimmers, lighting-only networks, and home energy management systems. Global market forecasts for unit shipments and revenue, segmented by region, lamp type, product type, and building type, extend through 2023. The report also examines the key technologies related to residential energy efficient lighting and lighting controls, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “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.