Frost & Sullivan estimates the global lighting controls sector to grow by 4.7% in 2021 after experiencing a 6.3% growth decline in 2020 due to the COVID-19 pandemic. The industry is expected to reach pre-COVID-19 growth rates in 2023 and achieve $11.82 billion in revenue by 2028, expanding at a compound annual growth rate of 7.5% from 2021 to 2028. This Frost & Sullivan analysis provides an overview of the global lighting controls sector, with analyses of global and regional revenues, growth drivers and restraints, notable acquisitions and restructuring activities, and growth opportunities.
• North America holds the largest revenue share of the global lighting controls sector.
• The regional segment is maturing quickly as governments and building management companies strive toward energy efficiency and smart buildings through innovative and interoperable building systems, including lighting controls.
• Europe will remain the second-largest segment after North America, driven by the adoption of advanced lighting control solutions in offices and the hospitality segment.
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