Power over Ethernet (PoE) Lighting Market to Reach USD 2020.7 Million by 2030, Projected CAGR of 26.5%

The global Power over Ethernet (PoE) lighting market size is expected to reach USD 2020.7 Million in 2030 and register a revenue CAGR of 26.5%

NEW YORK, NY, UNITED STATES, June 19, 2023/EINPresswire.com/ -- The projected size of the global Power over Ethernet (PoE) lighting market is anticipated to reach USD 2020.7 Million by 2030, with a forecasted revenue compound annual growth rate (CAGR) of 26.5%. Factors contributing to the growth in market revenue include the rapid adoption of advanced lighting systems in smart buildings, declining costs of LEDs, increased utilization of PoE lighting solutions in commercial and healthcare applications, a rising demand for cost-effective lighting solutions, the growing adoption of smart and automated systems, and an increasing need for smart workplaces. Additionally, the expanding presence of connected devices across various industries presents attractive opportunities for market companies to expand their global presence. PoE lighting technology interfaces with smart home and virtual assistant devices such as Alexa and Siri, leading to its widespread adoption among consumers in different countries. Moreover, the emergence of Next-generation Light-Fidelity (Li-Fi) technology, which employs Light Emitting Diodes (LEDs) for wireless data transmission, also contributes to the market's revenue growth. The installation cost reduction offered by PoE lighting is another crucial factor that drives its acceptance in commercial and industrial settings. Furthermore, significant investments in smart building projects create new prospects for market expansion.

Furthermore, the growing trends of smart offices and smart retail are significant drivers for market revenue growth during the forecast period. Organizations are embracing digital disruptions to remain competitive, profitable, and appealing to talent. Commercial facility owners and operators are increasingly interested in PoE lighting for energy management and enhanced performance. PoE technology enables installers to power, control, and manage a facility's lighting system. Enterprises are also inclined towards consolidating separate systems into a single, secure network infrastructure to enhance flexibility, efficiency, and performance, which further propels market revenue growth. Additionally, the increasing popularity of remote workplaces and smart retail drives the adoption of PoE for powering network devices. Overall, as commercial enterprises continue to adopt smart and automated systems, the PoE lighting market is expected to expand.

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Segments Covered in the Report

When examining the outlook of the global Power over Ethernet (PoE) lighting market based on wattage, there are two distinct categories. The first category includes wattages up to 25 Watts, while the second category encompasses wattages above 25 Watts.

In terms of type, the market can be segmented into Power Sourcing Controllers and ICs, as well as Powered Devices Controllers and ICs. These different types play crucial roles in enabling the functionality and efficiency of PoE lighting systems.

Considering the application outlook, PoE lighting finds extensive use in commercial and industrial settings. The commercial sector encompasses various establishments such as offices, retail spaces, hospitality venues, and healthcare facilities, where the adoption of PoE lighting is rapidly growing. On the other hand, the industrial sector, which includes manufacturing plants, warehouses, and industrial complexes, also benefits from the advantages offered by PoE lighting solutions. In addition to these primary segments, there are other applications where PoE lighting is gaining traction, further expanding its market presence.

Overall, the Power over Ethernet (PoE) lighting market exhibits diverse opportunities across different wattage ranges, types of controllers and ICs, and various applications. As the demand for efficient and cost-effective lighting solutions continues to rise, the market is poised for significant growth in the coming years.

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Strategic development:

The Power over Ethernet (PoE) lighting market is experiencing strategic developments that are shaping its growth trajectory and competitive landscape. These strategic initiatives are aimed at enhancing the technology, expanding market reach, and driving innovation within the PoE lighting sector.

One of the key strategic developments in the PoE lighting market is the focus on research and development activities. Market players are investing in R&D to advance PoE lighting technology, improve energy efficiency, and develop innovative lighting solutions. These efforts aim to meet the evolving demands of customers for sustainable, intelligent, and connected lighting systems.

Another strategic development is the establishment of partnerships and collaborations. Companies are forming strategic alliances to leverage their complementary strengths, share resources, and jointly develop PoE lighting solutions. These partnerships enable participants to expand their product portfolios, access new markets, and offer integrated solutions to customers.

Market players are also engaging in strategic acquisitions and mergers. These transactions allow companies to consolidate their market position, acquire intellectual property, and expand their customer base. Through acquisitions and mergers, companies gain access to new technologies, manufacturing capabilities, and distribution networks, which contribute to their growth and competitiveness in the PoE lighting market.

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Competitive Landscape:

Cisco Systems, Inc., Monolithic Power Systems, Inc., STMicroelectronics, Texas Instruments Incorporated, Analog Devices, Inc., H.E. Williams, Inc., ALLNET GmbH, Signify Holding, Deco Lighting, Inc., and Siemon.

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