Transparency Market Research delivers key insights on the global dimmer and color tunable market. In terms of revenue, the global dimmer and color tunable market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global dimmer and color tunable market.
A dimmer is a device that helps in adjusting or controlling the intensity or brightness of the light source, including incandescent, HID, LED, and CFL. It helps in reducing the energy usage by various light sources, which helps in conserving a large amount of energy. Furthermore, color-tunable products enable variation or adjustment in the CCT (correlated color temperature) through input control. Color-tunable products also help in improving the work efficiency and increasing the productivity, as they are capable of mimicking various light sources.
Dimmer and Color Tunable Market: Dynamics
Lighting consumes a significant portion of energy across the world. With the evolution of technologies, LED lighting is introduced, which offers a higher level of energy efficiency than the traditional lamps. Governments of countries across the world are encouraging the use of LED lights in residential, commercial, and industrial premises. In addition to this, governments of countries in Europe, North America, and Asia Pacific are phasing out conventional light sources by replacing them with energy-efficient LED lights. Furthermore, in view of energy saving, various lighting companies, including Lutron Electronics Company and Cree, Inc., have introduced color-tunable and dimmable lights.
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These lights can help organizations and households across the globe in conserving energy and protecting the environment. Moreover, for promoting the adoption of dimmable lights in commercial spaces, technological advancements are continuing worldwide. For instance, in 2019, the CSIR-Advanced Materials and Processes Research Institute (CSIR-AMPRI) introduced the dimmable LED street lighting technology. The new technology would be useful to save a large amount of energy. Government efforts to save a large amount of energy require prominent use of LED lights that are dimmable as well as color tunable.
Several luminaires have drivers and engines that drive the current from AC voltage supply toward the LED light. In case of any issue with the light, drivers can be easily replaced. Since the demand for color-tunable LED luminaires is increasing across the world led by various benefits associated with them, manufacturers are also investing in producing technologically advanced light drivers. This helps in altering the color temperature of light to make it suitable for use in various applications. For instance, in 2019, OSRAM Licht AG, a lighting manufacturer based in Germany, launched a tunable white light system for use in healthcare settings, offices, and educational spaces. The new system consists of LED drivers and engines that can be adjusted within the range of 2,700 K – 6,500 K.
Dimmer and Color Tunable Market: Prominent Regions
The dimmer and color tunable market in North America is projected to expand at a significant rate, in terms of value, during the forecast period, owing to growing adoption of the dimmer and color tunable technology in the region. The U.S. is home to several well-established players that design and offer dimmers and color-tunable products, such as Acuity Brands Lighting, Inc., Daintree Networks, Inc., Lutron Electronics Co., Inc., and Hubbell Lighting, Inc. These players have introduced technological advancements in their dimmer and color tunable offerings.
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In terms of volume, Asia Pacific is the most rapidly expanding market for dimmers and color tunables. This is attributable to the growing number of smart cities planned in the region, especially across major countries such as China, Japan, Australia, South Korea, and India. Moreover, countries such as China and India are densely populated, which increases the adoption of lighting. Furthermore, growth of the commercial lighting sector led by increasing spending on lighting in shopping malls is also driving the market in Asia Pacific. Moreover, rapid urbanization in the region has resulted in upgrade of traditional lighting systems into smart lighting, including dimmers and color-tunable products.
Dimmer and Color Tunable Market: Key Players
The bargaining power of buyers is moderate, owing to presence of a large number of well-established as well as emerging players in the global dimmer and color tunable market, which design, manufacture, and supply dimmers and color-tunable lights worldwide. Key market players are Acuity Brands Lighting, Inc., Apple Inc., Cooper Industries, Inc., Daintree Networks, Inc., Hubbell Lighting, Inc., Honeywell International Inc., Osram GmbH, Legrand S.A., and Lutron Electronics Co, Inc.