Smart Controls Market ‘to Reach $56bn By 2020
Sales of smart lighting control products are expected to reach $56 billion (€41 billion) by 2020, according to a new report.
The highest growth will happen in commercial and industrial applications of smart lighting, says a recent report by Markets and Markets. Public and government buildings are high on the list of current adopters, due to a desire to save energy.
The study looked at the key growth strategies of the major players in the market, including Acuity Brands, Legrand, Lutron and Zumtobel. Europe currently has the largest market for smart lighting, with the Asia Pacific region coming second.
Industry figures predict that IT companies will grab a substantial share of the wireless lighting controls market in the future.
Hugh Martin, CEO of US firm Sensity Systems which provides technology for data mining through connected lighting systems, told Lux: ‘A few years ago, the Consumer Electronics Show was all about gadgets. Now it’s about software and connections. The same will happen to the lighting industry, and you’ll see Cisco and Google there.’