Lighting up the Market: $922 Million PoE Lighting Market Projections by 2026
With a focus on products including hardware, software, and services, wattage classifications (up to 25 watts and above 25 watts), and applications in the commercial and industrial sectors, the Power Over Ethernet (PoE) Lighting Market is examined in a global forecast up to 2026. It is anticipated that the market would expand significantly, rising from USD 243 million in 2021 to a sizeable USD 922 million by 2026, at a compound annual growth rate (CAGR) of 30.6% throughout this time frame. This expansion is attributable to PoE technology's expanding usage in the lighting business, which shows the technology's ability to revolutionise the market and its ongoing integration into commercial and industrial applications.
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Power over Ethernet (PoE) lighting presently has the biggest market share in North America, but the Asia-Pacific (APAC) region is expected to have impressive growth over the course of the projection period. The dynamic technological environment and changing consumer needs, particularly in important economies like China, Japan, South Korea, and Australia, are credited with this rise in APAC. A favourable prognosis for the PoE lighting market is provided by the region's advantages in technical development, novel business strategies, and ongoing construction work in developing cities. PoE lighting usage in APAC is being accelerated by the increasing commercial and industrial sectors. The PoE lighting market is also being driven by government investments and the expansion of numerous end-use industries, with China anticipated to have the biggest demand in the area.
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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).
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 forecast period, the above 25-watt segment of the PoE lighting market is anticipated to hold the majority of the market share. This market already has a sizable share in 2020, and it is anticipated to increase faster than average over the forecast period. Improved PoE standards and the increased need for high input-powered lighting products are two factors contributing to this growth. Higher input power is required because Original Equipment Manufacturers (OEMs) are integrating solutions into luminaires. The market for high-wattage PoE lighting systems is being driven by the growing demand for supply Source Equipment (PSE) with increased output to efficiently supply the Power Devices (PDs). PoE lighting that uses more than 25 watts has a number of benefits, including increased brightness and illumination as well as support for more direct and indirect loads. A flood of new PoE systems and Internet of Things (IoT) applications, including those for lighting, plug loads, office workstations, device charging, and several other uses, are being brought in by the ongoing digital revolution.
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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 predicted to account for the greatest share of the Power over Ethernet (PoE) lighting market. In 2020, this market had already demonstrated a strong amount of domination. The rapid deployment of PoE lighting in commercial structures is being fueled by its increased affordability and increased efficiency. The commercial category offers a sizable market opportunity and includes a variety of settings including offices, retail locations, healthcare facilities, educational institutions, stadiums, and hospitality venues. Stakeholders like building owners, municipalities, and utilities are putting more of an emphasis on energy-efficient solutions like PoE lighting in order to address the necessity of reducing energy use. An important strategy in this direction is the installation of more energy-efficient lighting sources, such as LEDs.
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 greatest Compound Annual Growth Rate (CAGR) for the market for Power over Ethernet (PoE) lighting from 2021 to 2026. Major economies including China, Japan, Australia, South Korea, and other nations in the region are included in the APAC market. The usage of PoE lighting is predicted to expand the fastest there, indicating tremendous potential for the worldwide PoE lighting market. The increase is attributable to linked lighting systems' quick adoption across a variety of applications, particularly in the field of smart workplaces, underscoring the region's leadership in advancing PoE lighting technology.
Lighting companies with Chinese roots are starting to pose a serious threat to their counterparts in the North American and European lighting markets. Cities in China offer an alluring combination of affordable land, strong infrastructure, and a large labour pool, all of which serve to attract investments in industrial development. Within the Asia-Pacific (APAC) region, China is anticipated to dominate the Power over Ethernet (PoE) lighting industry. This is because there is an abundance of lighting manufacturers, affordable land is available for setting up manufacturing facilities and building commercial spaces, and commercial, industrial, and smart office space are constantly expanding. The nation is in a superior position to other countries in the region due to its proficiency in the production of lighting equipment and its quick acceptance of new technology.
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