Report: Lighting Controls Business 2015 to 2020

Lighting Controls Products

Jan 11 2016

Memoori Business Intelligence Ltd. has revised its estimate of the total value of lighting controls In its latest report, believing sales in 2013 reached US$1.814 billion, some 8.7% higher than previously thought. This reflects the fact that the global economic down turn from 2008 has had less impact on this particular market, and a better recovery.

The transition to LEDs for lighting has come at the same time as the development of the Internet of Things, which is about to disrupt the building automation systems (BAS) industry and opens up the possibility for lighting control to play a much more important role.

These together with wireless networking technology and the future development of Li-Fi will open up the latent demand in the retrofit market and the small building sector hitherto not economically viable.

Other influences on the value of the market, and the difficulty in predicting how the retrofit element might grow, means Memoori predicts a CAGR of just under 10.6% until the year 2020. However, Memoori believes there is a significant opportunity to develop the retrofit market that supplies lighting controls into existing installations. New construction projects account for about 3-5% of non-domestic floor space each year; the existing building market offers up to 10 times more projects.
In the last two complete years, 2013 and 2014, there has been a marked decline in M&A activity, both in value and the number of deals struck. However, 2015 saw a significant increase in value with a reported total of US$3,435 million involved. Although the recent Philips divestment accounts for some $2.8 billion of this total, the remaining $635 million is still a big increase on the previous two years.

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