Lighting Control System Market worth $39.0 billion by 2024

According to the new market research report "Lighting Control System Market by Installation Type (New and Retrofit), Offering (Hardware, Software, and Services), End-use Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2024", The lighting control system market is estimated to grow from USD 19.5 billion in 2019 and projected to reach USD 39.0 billion by 2024,  at a CAGR of 14.8%. The most significant factor driving the growth of this market is the requirement for energy-efficient connected lighting controls. This requirement is due to the increased awareness to reduce energy consumption. Growing demand for intelligent solutions for street lighting systems, upcoming smart city projects in developing economies, rising adoption and decreasing cost of LEDs, increasing awareness of worldwide consumers and governments about the importance of saving energy, along with modernization and infrastructure development, are the major factors contributing to the growth of the lighting control system market.