Efficiency and Sustainability: The Green Potential of PoE Lighting Market
The Global Power Over Ethernet (PoE) Lighting Market is anticipated to rise significantly over the next few years. The market is anticipated to reach USD 922 million by 2026, with a CAGR of 30.6% from 2021 to 2026, according to the analysis. The growing use of PoE lighting systems in commercial and industrial settings is responsible for this expansion. The market has also been affected by the COVID-19 pandemic, which has increased interest in energy-efficient lighting options.
The Power Over Ethernet (PoE) Lighting Industry now has the largest market share in North America, but the Asia-Pacific (APAC) region is anticipated to experience the highest growth throughout the course of the forecast. The fast altering technological landscape and changing consumer demands in nations like China, Japan, South Korea, and Australia are to blame for this increase. The region's growing cities, as well as technological improvements and new business models, are what's fueling the market's upbeat outlook for PoE lighting. The adoption of PoE lighting in APAC is also being boosted by investments from the government and the region's expanding commercial and industrial sectors. Notably, the region's demand for PoE lighting is expected to be strongest in China.
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The above 25-watt segment, in the market by wattage, of the PoE lighting market, is projected to account for a larger share during the forecast period.
During the projection period, the Power Over Ethernet (PoE) lighting market segment classified as above 25 watts is anticipated to have a greater share. This market has a sizable share in 2020 and is anticipated to develop at a faster compound annual growth rate (CAGR) going forward. Improved PoE standards and the rising demand for high-input powered devices in lighting applications are two factors propelling this market. Power Source Equipment (PSE) with high output is becoming more and more necessary as Original Equipment Manufacturers (OEMs) are introducing integrated solutions in luminaires that need higher input power. Advantages including improved brightness, illumination, and support for greater direct and indirect loads are available on the market for above-25-watt PoE lighting systems. The advent of PoE systems for diverse lighting, plug load, workstation, and device charging applications is further fueled by the digital revolution and the growth of Internet of Things (IoT) applications.
In applications, the commercial segment projected to hold the largest share of the PoE lighting market during the forecast period
During the forecast period, the commercial sector is anticipated to account for the greatest share of the Power Over Ethernet (PoE) lighting market. It already held the biggest market share as of 2020. Commercial buildings are adopting PoE lighting systems due to their rising affordability and improved efficiencies. Offices, retail stores, healthcare facilities, educational institutions, stadiums, and hospitality facilities are just a few of the establishments included in this section. For building owners, governments, and utilities, the goal of reducing energy usage is a major motivator. One answer is to switch out conventional lighting with more energy-efficient models like LEDs, however this strategy is not scaleable.
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The PoE lighting market in APAC projected to have the highest CARG during the forecast period (2021-2026)
The Asia-Pacific (APAC) region is predicted to have the highest compound annual growth rate (CAGR) for the Power Over Ethernet (PoE) lighting market from 2021 to 2026. This region includes nations like China, Japan, Australia, South Korea, and the Rest of APAC (India, Indonesia, Singapore, Taiwan, Malaysia, Thailand, Vietnam, Bangladesh, and the Philippines). The use of connected lighting systems in more and more applications, notably in smart offices and workspaces, is predicted to make this area the PoE lighting market with the greatest growth. PoE lighting solutions have a huge growth potential in the APAC market.
The PoE lighting market is seeing fierce competition from Chinese lighting manufacturers for North American and European businesses. Due to their affordable land, excellent infrastructure, and large labour pool, Chinese towns are drawing investments in industrial growth. With these benefits, China is predicted to dominate the Asia-Pacific (APAC) region's PoE lighting industry. The nation houses numerous lighting manufacturers, provides affordable land for manufacturing facilities and new commercial structures, and has ongoing growth in commercial, industrial, and advanced office buildings. China's market supremacy is also attributed to its proficiency in producing lighting equipment and its rapid technological adoption.
Some of the major companies in the PoE lighting market are Signify Holding (Philips Lighting) (Netherlands), Hubbell Inc. (US), Cisco Systems (US), H.E. Williams (US), Molex (Koch Industries) (US), Ubiquiti Networks Inc. (US), Siemon (US), Silvertel (UK), NETGEAR (US), Ideal Industries (Cree) (US), Herbert Waldmann GmbH & Co. Kg (Waldmann Lighting) (Germany), Prolojik (UK), Innovative Lighting (GENISYS) (US), Deco Lighting (US), Wipro Lighting (India), Axis Lighting (Canada), Igor Inc. (US), ALLNet GmbH (Germany) and NuLEDs (US).
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