Focus on Minimizing Energy Consumption and Innovations to Aid Market Growth
Energy consumption in urban cities across the world is on the rise. As government authorities and municipalities across the world, particularly of the developing countries of Asia Pacific, Africa, and Latin America continue to invest resources in the development of new infrastructure and industrialization, energy conservation has also emerged as a key area of focus. Energy conservation regulations around the world continue to emphasize on using smart lighting and electric systems across buildings to minimize energy consumption. Over the past decade, energy consumption across non-residential and commercial buildings has increased at a steady pace. The focus on maximizing energy efficiency and minimizing energy consumption has led to a significant rise in the demand for dimmer and color-tunable products over the past few years, a trend that is expected to continue during the forecast period.
Some of the other factors that are expected to drive the dimmer and color tunable market include the advent of new construction techniques, advancements in LED technology, focus on innovation, large-scale production of ‘smart’ lighting systems, and dwindling costs of new products technologies. At the back of these factors, the global dimmer and color tunable market is expected to reach a value of ~US$ 36 Bn by the end of 2027.
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High Energy-saving Potential of Advanced Dimmers to Increase Demand
As maximizing energy efficiency of lighting systems across the world continues to gain significant momentum, dimmers have emerged as an ideal solution to attain that objective. In recent years, daylight integration in controlled systems and strategies has gained considerable traction. In addition, adaptive dimming schemes that are predominantly centered on daylight pipe that is integrated with indoor lighting control systems have exhibited exceptional energy-saving potential. At present, dimming is extensively available via single-light switches and as the adoption of smart lighting systems continues to grow, the demand for dimmers is likely to increase at a steady pace. The advanced LED technology coupled with the Bluetooth technology is expected to accelerate the demand for dimmers and color-tunable products. Smart digital dimmers are increasingly being used in houses, hotels, commercial, residential, and an array of non-residential buildings across the world.
Research and development activities within the dimmer and color tunable market are on the rise and are investigating the potential of leveraging the location-awareness technology to develop advanced dimming lighting control systems. In addition, several research activities are also increasingly focusing on assessing the energy reduction rate, while simultaneously monitoring the performance of the indoor lighting environment. In addition, as energy consumed across the building sector worldwide accounts for nearly 40% of the total energy consumed, minimizing energy consumption using smart dimmers and novel technologies is expected to gain traction in the coming years.
Advancements in Technologies and Rise in Number of Smart Cities to Propel Market Growth
Progress in wireless technologies, advent of smart street lighting systems, sensor technologies, and the introduction of smart lighting technologies are expected to provide winds to the sails for the growth of the dimmer and color tunable market during the forecast period. As brands continue to focus on innovations and new technologies, the dimmer and color tunable market is expected to be flooded with new innovative smart dimmer and color-tunable products during the forecast period. Technological advancements within the current market landscape are predominantly aimed toward enhancing lighting performance and minimizing energy consumption. In recent times, as the efficiency of LED technologies continues to improve, the demand for dimmer and color-tunable products has witnessed notable growth. Innovations, including tunable liquid lenses have played a key role in the development of luminaries wherein focus, beam pattern, and temperature color can be adjusted. Technologies such as ambient/optimum lighting and distribution system lighting, passive infrared motion sensing-based lighting and motion sensor lighting systems have revolutionized the lighting space in recent years. The onset of such technologies is likely to propel the dimmer and color tunable market in the coming years.
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Manufacturers to Address Supply-chain Challenges Amidst COVID-19 Pandemic
The advent of the COVID-19 pandemic is expected to influence the expansion of the market for dimmer and color tunable products in the first half of the forecast period. Although new technologies are entering the market space at a rapid pace, the demand for dimmer and color tunable products is expected to witness a decline particularly in the first half of 2020. Companies are increasingly focusing on minimizing supply chain disruptions, as lighting systems are critical in both outdoor as well as indoor applications. Market players are likely to focus on addressing the demand from the infrastructure sector. However, a shortage of electric components sourced from China, along with disruptions in international trade is projected to impact the demand-supply equation in the near future.
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