SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Lighting Management Systems – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 21869
Companies: 19 – Players covered include ABB Group; Acuity Brands Lighting Inc.; Benchmarking Group; Eaton Corporation PLC; General Electric Company; Honeywell International, Inc.; Legrand Group; Lutron Electronics Co., Inc.; OSRAM GmbH; Philips Lighting NV; Schneider Electric SA; Siemens AG; Zumtobel Group AG and Others.
Coverage: All major geographies and key segments
Segments: Application (Indoor, Outdoor); Function (Dimming Control Management, Occupancy-Based Management, Schedule-Based Management, Daylight Control Management)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Lighting Management Systems Market to Reach $26.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Lighting Management Systems estimated at US$12.9 Billion in the year 2020, is projected to reach a revised size of US$26.1 Billion by 2026, growing at a CAGR of 12.3% over the analysis period. Dimming Control Management, one of the segments analyzed in the report, is projected to record a 12.9% CAGR and reach US$12.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Occupancy-Based Management segment is readjusted to a revised 11.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.4 Billion in 2021, While China is Forecast to Reach $4.6 Billion by 2026
The Lighting Management Systems market in the U.S. is estimated at US$4.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2026 trailing a CAGR of 11.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.9% and 10.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.
Schedule-Based Management Segment to Reach US$3.7 Billion by the year 2026
In the global Schedule-Based Management segment, USA, Canada, Japan, China and Europe will drive the 11.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$3.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.