A new report released from Navigant Research found that the market for lighting controls in commercial buildings would increase as the adoption rate of LED lighting systems increases. It predicted that the worldwide revenue of networked lighting controls will grow from $1.7 billion annually in 2013 to more than $5.3 billion by 2020.
“Building owners and managers, who are accustomed to the idea of centrally monitoring and managing their heating, ventilation, and air conditioning systems, are beginning to expect the same level of control from lighting systems,” says Jesse Foote, research analyst with Navigant Research.
The “Intelligent Lighting Controls for Commercial Buildings” report concludes that as prices for LEDs fall and drive up adoption rates of LED lamps, the adoption of lighting controls will also accelerate.
The report analyzed the global market for lighting controls for commercial buildings, including both new construction and retrofits. It details the market drivers for these technologies, as well as barriers to adoption, and includes profiles of select industry players.
Read more about the report at Navigant Research.