A senior analyst at AMR stressed that the Luminaire and lighting control market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
Allied Market Research has published a research report on the Luminaires and Lighting Controls Market. The findings of the report states that the global lighting and lighting control market generated US$72.72 billion in 2020 and is expected to reach US$130.56 billion by 2030, growing at a CAGR of 6.44% from 2021 to corresponds to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets and competitive scenario for market participants, investors, shareholders and new entrants.

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The report provides detailed insights into drivers, restraints, and opportunities to assist market participants in developing multiple growth strategies. Increasing need to reduce energy consumption, increasing awareness of energy management and existence of government regulations to use energy efficient products are expected to drive the growth of the global lighting and lighting control market. On the other hand, high installation costs are likely to slow growth to some extent. However, the growing popularity of smart cities is expected to create numerous opportunities for the industry.
“The market share of lighting fixtures and lighting control in Asia-Pacific is expected to grow the fastest during the forecast period, owing to population growth and the introduction of improved technologies in smart infrastructure in developing countries such as India, China and Indonesia. Additionally, various product launches and technological advancements in the lighting market anticipate tremendous growth in the Asia Pacific lighting and lighting control market,” said Avinash Savekar, Lead Analyst, Semiconductor and Electronics.
The report provides a detailed scenario of the impact of the Covid-19 pandemic…