The report "Power Over Ethernet Lighting Market by Offering (Hardware, and Software and Service), Wattage Type (Up to 25W and Greater Than 25W), Application (Commercial, Industrial, and Residential), and Geography - Global Forecast to 2024", is projected to reach USD 1,174 million by 2024 from USD 256 million in 2019, at a CAGR of 35.6%. 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 PoE lighting market include improving POE standards for higher power, speed, and efficiency; growing adoption of smart and automated systems; and rising demand for smart workplaces. Major restraints for the market are the high cost of PoE switches and the requirement of additional equipment. Limited transmission distance and power delivery rates pose a major challenge for the PoE lighting market.
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PoE lighting market segmentation:
In this report, the PoE lighting market is segmented into the following categories:
PoE lighting market, by Wattage:
- Up to 25W
- Greater than 25W
PoE lighting market, by Offering:
- Hardware
- Software and Services
PoE lighting market, by Application:
- Commercial
- Industrial
- Residential
PoE lighting market, by Region:
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
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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