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New York City, NY, 17 December, 2019/ 24 Market Reports: It is expected for the PoE lighting market to reach USD 1,177 million by 2024 from that of USD 253 million in 2019 witnessing the growth at a CAGR of 35.9% during the forecast period of 2019 to 2024. The increasing penetration and decreasing cost of LEDs, growing adoption of PoE lighting solutions in commercial and healthcare applications, and rising need for cost-effective lighting solutions are the major factors driving the growth of the market during the forecast period. Improving POE standards for higher power, speed, and efficiency; growing adoption of smart and automated systems; and rising demand for smart workplaces are the opportunities available in the market. Factors like the high cost of PoE switches and the requirement of additional equipment are hindering the growth of the market during the forecast period.
Hardware segment to account for the largest share in the market during the forecast period
Hardware, software and services are the segmentation for the PoE market. Luminaires, switches, and other accessories are the categories for the hardware segment in the PoE market. In the year 2018, the hardware segment accounted for over 80% of the share in the market and is estimated to continue the trend over the forest period. The driving factor for the PoE lighting market for hardware is the increasing demand for energy-saving lighting systems. The improving PoE standards are allowing new, standardized switches to commercialize which would further propel the market for PoE lighting.
Greater than 25w segment, by wattage type, is estimated to dominate the market
Based on the wattage type, up to 25w and greater than 25w are the segmentation for the PoE lighting market. During the forecast period, it is estimated for the greater than 25w segment to dominate the market. More brightness and illumination, and support for more direct/indirect loads are the advantages of the more than 25w PoE lighting. Improving PoE standards, coupled with the growing demand for high input-powered devices for lighting are driving the growth for the market during the forecast period.
A commercial segment to drive heavy growth for the market throughout the forecast period
With growing affordability and higher efficiencies, the use of PoE lighting in commercial buildings is taking place at a rapid pace. The growing adoption of PoE lighting for offices and healthcare applications is also one of the major factors that are driving the growth of the PoE market during the forecast period. The commercial segment is best suited for deploying PoE lighting solutions where there is an existing IT infrastructure as PoE lighting is more viable for such infrastructure. In-office buildings, where it is too expensive to install new power lines, PoE lighting makes installing or expanding a network much simpler and cheaper, thud driving the growth of the market.
APAC region to dominate the global PoE market throughout the forecast period
Driven by countries such as China, Japan and India the APAC region is expected to have tremendous growth potential for the market during the forecast period. Increasing infrastructure development projects being undertaken in the region, mainly in China, where smart lighting paves the way for the modernization of infrastructure is the factor driving the growth of the market during the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global PoE lighting market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the PoE lighting market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global PoE lighting market and their future potential during next decade?
- How competitive landscape is evolving in minimally global PoE lighting market?
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