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PoE lighting market projected to 33.6% CAGR through 2027

Jan. 30, 2020

Rising organizational need for cost-effective lighting solutions, plus the increasing penetration and decreasing cost of LEDs, are seen by technology industry analyst Research and Markets as major factors driving the growth of the market.

The "Power Over Ethernet Lighting - Global Market Outlook (2018-2027)" report has been added to the offering of ResearchAndMarkets.com (Dublin, Ireland). According to the researcher, the global Power over Ethernet lighting market accounted for $191.61 million in 2018 and is expected to reach $2,598.31 million by 2027 growing at a CAGR of 33.6% during the forecast period.

Per the report's summary, "Power over Ethernet or PoE describes any of several standard or ad-hoc systems which pass electric power along with data on twisted-pair Ethernet cabling. This allows a single cable to provide both data connection and electric power to devices such as wireless access points, IP cameras, and VoIP phones."

Rising need for cost-effective lighting solutions and increasing penetration and decreasing cost of LEDs are seen as factors driving the growth of the market. However, the high cost of PoE switches and requirements for additional equipment is seen as restraining the market.

According to the analyst, among end users, the PoE industrial segment will have growing prominence in the near future. The industrial segment includes lighting for production halls, warehouses, representative rooms, and other indoor areas.

"The utilization of PoE can improve the execution of a smart lighting system in an office or industrial application," notes the report's summary. The analyst adds, "Industries and factories are now concentrating on energy-efficient lighting solutions attributable to the government regulations for energy saving. Along these lines, PoE lighting is among the favored solutions being adopted by them."

Based on geography, the analyst projects Asia-Pacific to have lucrative market growth during the forecast period, owing to increasing infrastructure development projects being undertaken in the region, primarily in China, where demand for smart lighting heralds the modernization of infrastructure. Industries present in this region are concentrating on the modernization of their spaces, and this is likely to open further doors for PoE lighting vendors, says the analyst.

Companies mentioned in the report include:

Ubiquiti Networks, Inc.

The IBS Group LLC

Signify Holding (Philips Lighting N.V.)

Nuleds

Molex (Koch Industries)

Microsens (Euromicron AG)

Microsemi Corporation (Microchip Technology Inc.)

Leviton

Innovative Lighting (Genisys)

Igor Inc.

Ideal Industries (CREE)