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 vertical accounted for the largest share of the power over Ethernet solutions market in 2015
The power over Ethernet solutions market is led by the commercial vertical, which is further segmented into office buildings, healthcare, retail, and others. The high demand for power over Ethernet technology-based products from office buildings, especially for connectivity and security & access control applications, is one of the major factors driving the growth of the power over Ethernet solutions market for the commercial vertical.
PoE lighting market in APAC expected to grow at highest CAGR during forecast period
The PoE lighting market has been segmented based on geography into four major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The APAC region is expected to have tremendous growth potential for the market, driven by countries such as China, Japan, and India. The growth in APAC can be attributed to increasing infrastructure development projects being undertaken in the region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. The industries present in this region are focusing on the modernization of their spaces. This is further likely to create opportunities for PoE lighting vendors. Improving IEEE standards are expected to further boost the market.
Key Market Players
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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