The Lighting Control System Market size is estimated at USD 37.06 billion in 2024, and is expected to reach USD 78.86 billion by 2029, growing at a CAGR of 16.30% during the forecast period (2024-2029).
The market is moving toward the adoption of the Internet of Things (IoT), with the increasing usage of smart devices, such as smartphones, tablets, etc. As the lighting control market is finding its applications in IoT-connected devices, the increase in adoption is influencing a positive growth of the market.
The lighting control system market is highly fragmented because of the presence of major players. Some of the key players in the market areTexas Instruments Incorporated,Schneider Electric SE,Philips NV,and Infineon Technologies, among others. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition in the intelligent lighting controls market.
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