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Memoori Research Expects Global Commercial Lighting Controls Market to Reach US$3.67 Billion by 2020

Our new research report “Smart Buildings: The Lighting Controls Business 2015 to 2020″ is an objective assessment of the global commercial lighting controls market; which brings together all the factors that influence this industries future.

The world value of commercial lighting control products in 2015 will be approximately $2.2 billion at factory gate prices. Memoori also forecasts that the global market for lighting controls will grow at a CAGR of 10.6% to 2020.

The transition to LEDs for lighting has come at the same time as the development of the Internet of Things (IoT), which is poised to disrupt Building Automation. A subject we have written extensively about in our previous research “The Transformation of BAS into the Building Internet of Things 2015 to 2020″. This merging of different technologies opens up the possibility for lighting control to play a much more important role in the building controls industry.

This together with wireless networking technology should open up the latent demand in the retrofit market and the small building sector, which historically has not economically viable.

Indeed, there is a very large opportunity to develop the retrofit market that supplies lighting controls into existing installations. New construction projects account for, perhaps, 3-5% of non-domestic floor space each year; the existing building market would offer up to 10 times more projects.

www.memoori.com

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