The new report by Expert Market Research titled, ‘Power Over Ethernet Lighting Market Report and Forecast 2021-2026’, gives an in-depth analysis of the power over ethernet lighting market, assessing the market based on its segments like source, product, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 340 million
Forecast CAGR (2021-2026): 33%
Forecast Market Size (2026): USD 1.8 billion
Power over Ethernet lighting technology is expected to achieve considerable popularity over the coming years due to its capacity to transfer electrical power and network over one cable. Growing demand for cost-effective and quick connectivity due to a rise in Internet usage is projected to fuel market growth over the forecast period. The growing acceptance of VoIP among the numerous application industries has also led to market demand. The penetration and low-cost LEDs, the use of PoE lighting solutions in commercial and healthcare applications, and the need for cost-effective lighting solutions are vital factors for the industry’s growth. In Addition, their use in environmentally sustainable energy systems is also anticipated to increase the demand in the global market.
Industry Definition and Major Segments
PoE lighting refers to the Ethernet cable’s ability to be used as a power light fixture (light fixtures) and relay data between the luminaire and the control software. Data can be obtained from connected instruments, such as motion sensors, to trigger essential lighting functions. If the right appliances are connected to the Ethernet cable, dimming, pacing, lighting colors, daylight harvesting, etc., can optimize performance and comfort. With a modern software framework, a single Ethernet cord can power and monitor several PoE light fixtures at once.
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https://www.expertmarketresearch.com/reports/power-over-ethernet-lighting-market
Based on offering, the market is divided into:
Hardware
Software
Services
Based on wattage capacity, the industry can be segmented into:
Up to 25W
Greater than 25W
Others
By application, the industry is categorised into:
Commercial
Industrial
Residential
Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The demand for Power over Ethernet lighting is evolving rapidly, as new technologies generate new opportunities for industry players in a wide variety of industrial segments. Growth opportunities include raising POE requirements for higher capacity, speed, and efficiency, increasing smart and integrated systems, and increasing demand for intelligent workplaces. The key driving force behind POE usage is that it decreases the number of wires, resulting in lower costs, more straightforward infrastructure control, faster servicing, less downtime, improved installation flexibility, and reduced power consumption. However, leveraging technical advantages may lead to higher capital spending on electrical and data networks. Furthermore, a lack of energy supply and a slow pace of technology implementation might impede the industry’s growth. New applications and distribution mechanisms that enable users to migrate to IP services from POTS providing a flexible platform, are expected to fuel VoIP demand and concentrate over the forecast era. In addition, a rise in energy prices and an increase in the implementation of digital signage technologies are both estimated to fuel demand for PoE technology on the market.
North America is expected to witness the fastest growth in the market, followed by Europe. In North America, the fast Broadband use is projected to increase demand for PoE lighting system. The growth of the market in Europe is attributed to the increasing awareness of energy conservation, and the implementation of strict environmental regulations and various government policies. In Asia, China is expected to hold a major share in the Asia Pacific market, owing to the presence of leading manufacturers in the region. Moreover, rapid industrialization and the growing demand for advanced technology are expected to spur market growth, especially in the Asia Pacific, one of the fastest-growing regions. LATAM is another prominent region for the growth of the power over ethernet lighting market. The growing trend and demand of customers for smart home automation and control to centrally handle appliances and other electrical systems is expected to lead to the growth of applications in the residential sector, which will further provide an impetus to the power growth over ethernet lighting market globally.
Key Market Players
The major players in the market are Signify Holding, Hubbell Incorporated, Innovative Lighting, LLC, Waldmann Lighting, Microchip Technology Inc., Igor Inc., among Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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