According to market research firm P&S Market Research, the global smart lighting and control market is expected to increase from US$22.11 billion in 2014 to US$59,188.1 million in 2020, a compound annual growth rate of 17.8%. The continuous decline in the average selling price of LED bulbs has driven the growth of the global smart lighting equipment and control market. LED lights are much cheaper than any other conventional lighting currently in use. LED lights can increase lighting brightness, reduce power consumption, and reduce production costs. The average price of LED lights has been declining, and the penetration rate of LED bulbs has gradually increased, further accelerating the growth of the intelligent lighting equipment and control market.
The Asia Pacific region is leading the global smart lighting and control market and is expected to continue to maintain its dominant position. The Asia Pacific smart lighting and control market is expected to continue to grow at the fastest rate. The growth in the Asia-Pacific region is higher than in other regions mainly due to the large demand for new construction and strong economic growth, especially in China, where LED lamps are widely used in the region.
Energy management systems and security and access control systems have driven the development of the smart home market. The smart home is equipped with a special connection platform that allows residents to automatically control home equipment. The market has made progress in developed countries and is expected to make further progress in developing countries. Governments will strengthen supervision, reduce energy consumption, and enhance consumers' awareness of energy conservation and emission reduction.
Intelligent lighting control systems have driven the development of the global intelligent control market. The security of commercial office buildings has been plaguing owners and tenants. How can we guarantee personal and property safety? By integrating an intelligent lighting control system, operators will control the lighting switching time period through lighting control, preset schedules, and provide a comfortable lighting environment. In addition, if there is a violation of safety regulations in the middle of the night, the lights in the area will automatically turn on, activate the camera and record the behavior of the intruder, and will prompt the operator to take appropriate action. The combination of intelligent lighting and the physical security industry provides a great opportunity for the rapid growth of smart devices and control markets.
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