The global residential lighting control market generated annual revenue of $963 million in 2018

According to a new report released by Navigant Research, the annual revenue of the global residential lighting control market will grow from $963 million in 2018 to $1.
5 billion
by 2027.

The global residential lighting control market generated annual revenue of $963 million in 2018

The residential market for connected LED lights, luminaires, and controllers is growing
.
The growing interest in smart homes and the desire for home automation have led to the global adoption of connected LED lighting
.

Despite the added value of networked LEDs, the overall market penetration of these products remains low
.
This is due to a lack of consumer understanding
of the value and use cases of connected lighting products.

Krystal Maxwell, research analyst at Navigant Research, said: "Falling LED prices and longer lifespans are helping to drive the adoption
of unnetworked LEDs.
However, these drivers are different for networked LEDs, with a focus
on safety and health centered on the growing popularity of smart homes and the added value of networked lighting.
”

Lighting manufacturers are reportedly turning to lighting control and connected products to continue creating value
for customers.
As revenue from residential luminaires declines, controls and networked LED products also provide manufacturers with new revenue streams
.
This is due to the drop in LED prices and the replacement of traditional lighting products
with LEDs with longer service life.
However, even with the increase in the number of available control products, the demand for control in the residential sector is still not high
.

Residential lighting controls include sensors, timers, dimmers, and networked controls
.
The report forecasts the global market to 2027 by region, technology type, product type, and building type
.

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