Power Over Ethernet Lighting Market: Software & services segment to grow at higher CAGR during forecast period

The PoE lighting marketPoE 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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Software and services segment to grow at higher CAGR during forecast period

The PoE lighting market has been segmented based on offering into hardware, and software and services. PoE technology offers intelligent lighting solutions through a connected network of light fixtures and sensors that allow them to send and receive data. A PoE lighting system can deliver energy savings of up to 80% and unprecedented insight and control over commercial, industrial, and public spaces. Command and control platforms, which are used to control and manage PoE lighting solutions, allow users to set up multiple control policies for each group of LED fixtures. For instance, the brightness and color of a fixture can be managed by a software platform. The market for the software and services segment is projected to grow at a higher CAGR during the forecast period. Software are used to evaluate energy optimization and savings, emission reductions, and financial viability.

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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