Jul 18 2014
LED Lighting in both the new construction and retrofit markets is stimulating demand to replace incandescent lighting and reduce CO2 emissions. However the latent demand in the retrofit market will only be completely satisfied when Wireless Controls are installed, because only then can it meet the ROI requirements of building owners.
Smart Wireless Lighting Controls are also enabling the Internet of Things (IoT) in Buildings and are laying the foundation platform to interface with energy management, safety and a host of other technical services to ensure that buildings are operated efficiently and cost effectively.
Opening up the latent retrofit market for lighting controls through wireless systems could provide growth opportunities for several years. Memoori estimates that in 2013 Wireless Controls accounted for around 10% of the total value of lighting controls products and that this will grow at a CAGR of 28% to $934m USD by 2020; by which time it will account for some 23% of the lighting controls market.
The retrofit market for lighting controls has a massive latent potential available to be exploited, sufficient to become larger than the new construction market within the next 10 years. However it will take time to get the industry organized to exploit this. During the next 7 years Memoori expects it to increase its share from 10% in 2013 to 25.5% in 2020.
About the Report
At 198 pages with 32 charts and tables, Smart Buildings: Smart Wireless Lighting Controls 2014 to 2018 report filters out all the important conclusions, supported with facts, as to what is shaping the future of the Wireless Controls industry. You can learn more at the reports website; http://www.memoori.com/portfolio/smart-buildings-wireless-lighting-controls-2014-to-2018/
Source: http://memoori.com/