Power over Ethernet Lighting Market Insights
The Power Over Ethernet Lighting Market is likely to register significant revenue growth. Reformed government regulations would increase the market demand in the next few years. Market Research Future (MRFR) confirms that the global power over ethernet lighting market is poised to escalate from USD 0.77 MN in 2022 to USD 4.96 BN by 2030, with 26.28% CAGR throughout the review period (2023-2030).
An efficient lighting system is essential in smart infrastructures. Today, the highest-value connected lighting systems are extensively used in intelligent buildings. Energy conservation is viewed as the most focused execution program, and power over ethernet lighting offers countless scope. Therefore, PoE lighting systems perceive significant demand. The increasing number of IoT devices has also increased the adoption of PoE.
The increase in energy-efficient lighting solutions adoption and government initiatives to encourage energy conservation boosts the power over ethernet lighting market size. Also, growing urbanization and industrialization in emerging markets positively influence the power over ethernet lighting market growth. Augmenting demand for high-quality and reliable lighting solutions influences the power over ethernet lighting market value.
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Furthermore, rising R&D investments in developing efficient PoE lighting systems push market revenues. On the other hand, the high initial investment required to install PoE systems and lighting equipment hampers the market growth, restricting the adoption. Setting up a PoE network requires a significant upfront financial expenditure. Also, the considerable costs of maintaining power-sourcing equipment can be a hindrance.
Major Players
Leading PoE lighting market players are
- Cisco Systems (US),
- Hubbell Inc. (US),
- Signify Holding (Netherland),
- E. Williams (US),
- Prolojik (UK),
- Herbert Waldmann GmbH & Co. Kg (Germany),
- Siemon (US),
- Silvertel (UK),
- Ubiquiti Networks Inc. (US),
- ALLNet GmbH (Germany),
- Axis Lighting (Canada),
- Wipro Lighting (India),
- Ideal Industries (US), and
- NETGEAR (US), among others.
Power over Ethernet Lighting Market – Segments
The report is segmented into offering, wattage, application, and regions. Of these, the offering segment is bifurcated into hardware, software, and services. The wattage segment is bifurcated into up to 25 watts and above 25 watts. Similarly, the application segment is bifurcated into commercial, residential, industrial, and others. By region, the PoE lighting market is bifurcated into the Asia-Pacific, Americas, MEA, Europe, and the Rest-of-the-World.
Power over Ethernet Lighting Market – Regional Analysis
Asia-Pacific region dominates the global PoE lighting market. The availability of cost-effective land for setting up manufacturing plants and new commercial constructions fosters market growth. Besides, the strong presence of major market players and continued growth in commercial & industrial buildings and smart offices impact the market growth positively. Moreover, vast investments in industrial growth substantiate market revenues in the region, providing good infrastructure and a large workforce.
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Power over Ethernet Lighting Market – Competitive Analysis
Highly competitive, the PoE lighting market appears diversified due to the presence of several giant manufacturers. Industry players adopt strategies like mergers & acquisitions, collaboration, and product/technology launches to gain a larger competitive share. They make substantial investments to drive their R&D and expansion plans.
Industry/ Innovation/ Related News
Feb. 26, 2023 --- LV Energy Systems, a leading provider of PoE lighting solutions, announced its plan to revolutionize the lighting industry with its cutting-edge technology and the innovative PoE lighting design brand, Luminetworx. Adopting a more sustainable, efficient, and cost-effective luminaire future will revolutionize the space of home, office, and public lighting.
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