The Dimmer and Color Tunable Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dimmer and Color Tunable Global Market Report 2024, The dimmer and color tunable market size has grown strongly in recent years. It will grow from $16.89 billion in 2023 to $18.52 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to energy efficiency regulations, consumer demand for customization, architectural and interior design trends, environmental awareness, government incentives.
The dimmer and color tunable market size is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to smart home integration, iot connectivity, commercial sector growth, health and well-being trends, regulatory standards. Major trends in the forecast period include advanced led technologies, integration with smart home systems, customization and personalization, regulatory compliance, technological innovations.
The increasing demand for energy-saving LEDs is expected to propel the growth of the dimmer and color-tunable market going forward. LEDs (Light Emitting Diodes) refer to semiconductor devices that emit light when an electric current is passed through them. LEDs have emerged as a popular choice for use in dimmers and color-tunable lighting solutions due to their long lifespan, color-tuning capabilities, and versatility. For instance, according to the U.S. Department of Energy, a US-based federal agency, LED lighting is becoming increasingly popular, accounting for 84% of all lighting installations and offering the potential to save 4.8 quads of energy every year by 2035. Therefore, increasing demand for energy-saving LEDs drives the dimmer and color-tunable market.
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The dimmer and color tunable market covered in this report is segmented –
1) By Product: Dimmer, Color Tunable
2) By Light source: Incandescent And Halogen, Fluorescent, Light-Emitting Diode (LED), High-Intensity Discharge(HID)
3) By End-User: Commercial, Residential, Other End-User
Top Major Players:
Acuity Brands Lighting Inc
Cree Lighting Inc.
Eaton Corporation PLC
Daintree Networks Inc.
Honeywell International Inc.
Asia-Pacific was the largest region in the dimmer and color tunable market in 2023.
Product innovation has emerged as a key trend gaining popularity in the dimmer and color tunable market. Major players operating in dimmer and color tunable market are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in June 2023, URC, a US-based residential and commercial automation company launched URC Lighting LT-3300 dimmer/switch device. Installers can easily configure the next-generation smart products as either a dimmer or switch, swiftly programming the LT-3300 products to establish unique atmospheres for various occasions, such as entertaining or quiet family events. Owners have the seamless capability to activate customized scenes, receive system notifications, and control intuitive lighting programs, according to the company. Utilizing URC’s Total Control system and Accelerator software, URC Lighting is seamlessly networked to offer comprehensive integration. This integration enables the launch of highly customized or frequently used lighting sequences, such as Good Morning, Dinner Party, and Good Night scenes.
The dimmer and color tunable market report table of contents includes:
1. Executive Summary
2. Dimmer and Color Tunable Market Characteristics
3. Dimmer and Color Tunable Market Trends And Strategies
4. Dimmer and Color Tunable Market – Macro Economic Scenario
5. Global Dimmer and Color Tunable Market Size and Growth
…
31. Global Dimmer and Color Tunable Market Competitive Benchmarking
32. Global Dimmer and Color Tunable Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Dimmer and Color Tunable Market
34.Dimmer and Color Tunable Market Future Outlook and Potential Analysis
35. Appendix
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