Commercial application to hold largest size of PoE lighting market during forecast period

The PoE lighting market is projected to reach USD 1,174 million by 2024 from USD 256 million in 2019, at a CAGR of 35.6%. The major drivers for the market’s growth are 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. Opportunities for the market include improving POE standards for higher power, speed, and efficiency; growing adoption of smart and automated systems; and rising demand for smart workplaces.

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Commercial application to hold largest size of PoE lighting market during forecast period

Growing affordability and higher efficiencies are driving the use of PoE lighting in commercial buildings. The market for the commercial segment is also driven by the growing adoption of PoE lighting for offices and healthcare applications. As PoE lighting is more viable where there is existing IT infrastructure, the commercial segment is best suited for deploying PoE lighting solutions. PoE lighting makes installing or expanding a network much simpler and cheaper in office buildings where it is too expensive to install new power lines. Owing to such benefits, the market for PoE lighting solutions is likely to propel further.

North America is expected to hold largest size of PoE lighting market during forecast period

The leading position of North America can be attributed to the high demand for PoE lighting systems in this region due to the presence of a large number of PoE power sourcing equipment as well as powered device manufacturers. Companies such as Innovative Lighting (GENISYS) (US), Hubbell Incorporated (US), Ideal Industries (Cree) (US), H.E. Williams (US), Cisco Systems (US), Koch Industries (Molex) (US), Igor Inc. (US), and NuLEDs (US) are headquartered in this region. The region is also one of the early adopters of the technology, and the demand is majorly derived from the growing adoption of PoE lighting systems for commercial applications in the US.

Signify (Philips Lighting) (Netherlands), Hubbell Incorporated (US), Innovative Lighting (GENISYS) (US), Deco Lighting (US), Ideal Industries, Inc. (Cree) (US), Eaton Corp. (Ireland), Herbert Waldmann GmbH & Co. Kg (Waldmann Lighting) (Germany), H.E. Williams (US), NAME Energy Group (MHT Lighting) (US), Ubiquity Networks (US), and ALLNET GmbH (Germany) are some of the major OEMs and solution providers of PoE lighting. Cisco Systems (US), Igor Inc. (US), NuLEDs (US), Koch Industries (Molex) (US), and Leviton (US) are among the few other important players in the market. Microchip Technology Inc. (Microsemi Corporation) (US), NETGEAR (US), Wipro Enterprise (Wipro Lighting) (India), euromicron AG (Microsens) (Germany), and The IBS Group LLC (US) are the key innovators operating in this space.

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