Market Research Report
Market Data - Residential Energy Efficient Lighting and Lighting Controls: Non-LED, LED, and Connected LED Luminaires, Lamps and Lighting Controls - Global Market Analysis and Forecasts
|Published by||Navigant Research||Product code||652169|
|Published||Content info||23 Pages; 38 Tables, Charts & Figures
|Market Data - Residential Energy Efficient Lighting and Lighting Controls: Non-LED, LED, and Connected LED Luminaires, Lamps and Lighting Controls - Global Market Analysis and Forecasts|
|Published: June 12, 2018||Content info: 23 Pages; 38 Tables, Charts & Figures||
LED lighting continues to gain momentum and account for an increasingly greater proportion of the installed base of lighting in the residential sector. Declining prices of LED technology, longer life, and increased energy savings have played a role in the growing adoption of LEDs. However, not all consumers understand the value of LEDs or are willing to pay a premium in price for this technology. Although the market for connected LED products in the residential sector remains nascent, the adoption of smart home technologies is helping to propel sales. Connected LEDs are considered an emerging market with strong potential-even though they currently make up only a small segment of overall LEDs and controls.
The global market for residential LEDs and lighting controls is being driven by attractive ROIs, the increase in the number of building codes and standards requiring more efficient lighting, and the growing adoption of smart home technology. Barriers to growth in this market include the higher costs relative to legacy lighting solutions and consumers' lack of understanding of the value of connected lighting products. Yet, because of the expected decline in lamp revenue due to the increased adoption of longer life LEDs, lighting manufacturers are turning toward connected luminaires and lamps and lighting controls. These connected products will provide further value for consumers and additional revenue streams for lighting companies.
This Navigant Research report analyzes the global market for residential energy efficient lighting and lighting controls. The study focuses on residential non-LED, LED, and connected LED luminaires and lamps. Residential lighting controls are also included in this assessment, including sensors, timers, dimmers, and connected controls. Global market forecasts, segmented by region, technology type, product type, and building type, extend through 2027. The report also examines the key trends and market drivers and barriers related to residential energy efficient lighting and lighting controls.