Osram Licht AG-Company profile, Business Overview, Financial Performance, Operating Segments, Strategic Moves, and Competitive Intelligence Report

Intelligent lighting control system is an automated technology, which comprises multiple lighting fixtures connected in a network to control lighting. These solutions do not have a centralized controller, rather they are equipped with autonomous controls. Intelligent lighting control systems improve energy efficiency and performance. Intelligent lighting controls have been increasingly adopted owing to the rising need for reducing energy consumption. Moreover, increasing awareness of energy management and electricity demand management have fostered the growth of the global intelligent lighting controls market. In addition, government regulations and incentives on the use of energy-efficient products would also boost the growth of the market. However, installation cost and longer payback period of the LED lights have limited the growth of these systems. In future, the introduction of low price sensors and plummeting prices of LED products would minimize the cost of installation; thereby, creating numerous growth opportunities for intelligent lighting controls market.