Dimmer and Color Tunable Global Market Report 2024

The primary product categories within this domain include dimmers and color tunable devices. Dimmers, electronic devices designed for controlling the brightness or intensity of a light source, are compatible with various light sources such as incandescent and halogen, fluorescent, light-emitting diode (LED), and high-intensity discharge (HID) lamps. These devices serve diverse end-users, including commercial, residential, and other sectors.

The dimmer and color-tunable market research report provides dimmer and color-tunable market statistics, including dimmer and color-tunable industry global market size, regional shares, competitors with a dimmer and color-tunable market share, detailed dimmer and color-tunable market segments, market trends and opportunities, and any further data you may need to thrive in the dimmer and color-tunable industry. This dimmer and color-tunable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The dimmer and color tunable market has grown strongly in recent years. It will grow from $16.89 billion in 2023 to $18.52 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%.The expansion observed in the historical period can be credited to several factors, including energy efficiency regulations, a growing consumer demand for customization, prevailing architectural and interior design trends, increasing environmental awareness, and government incentives. These elements collectively contributed to the growth witnessed during this timeframe.

The dimmer and color tunable market is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be linked to several factors, including the integration of smart home systems, the connectivity provided by the Internet of Things (IoT), expansion in the commercial sector, trends emphasizing health and well-being, and adherence to regulatory standards. Key trends expected during this forecast period encompass advancements in LED technologies, increased integration with smart home systems, a focus on customization and personalization, compliance with regulatory standards, and ongoing technological innovations. These trends are anticipated to contribute significantly to the growth of the industry during the forecasted timeframe.

The dimmer and color-tunable market is poised for growth, driven by the escalating demand for energy-saving LEDs. LEDs, characterized by their ability to emit light when an electric current passes through them, have gained popularity in dimmers and color-tunable lighting solutions due to their extended lifespan, color-tuning capabilities, and versatility. Notably, LED lighting is on the rise, constituting 84% of all lighting installations, as highlighted by the U.S. Department of Energy. This surge in LED adoption is anticipated to contribute to energy savings, with the potential to save 4.8 quadrillion British thermal units (quads) annually by 2035. Consequently, the increasing demand for energy-efficient LEDs serves as a catalyst for the growth of the dimmer and color-tunable market.

The expansion of the commercial construction sector is expected to be a driving force for the dimmer and color-tunable market. Commercial construction involves the planning, design, and construction of structures intended for commercial purposes and business activities. Dimmer and color-tunable lighting solutions play a crucial role in this sector, offering enhanced flexibility and ambiance to spaces while catering to specific functional and aesthetic requirements. The integration of dimmers enables adjustable light levels, optimizing energy efficiency and creating adaptable environments suitable for various activities. Notably, in May 2023, the United States Census Bureau reported a 3.8% increase in construction spending, rising from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023. This growth in the construction industry contributes to the overall expansion of the dimmer and color-tunable market.

Product innovation stands out as a prominent trend gaining traction in the dimmer and color-tunable market, with major players directing their efforts towards creating cutting-edge solutions to solidify their market positions. An illustrative example of this trend is seen in the launch of the URC Lighting LT-3300 dimmer/switch device by URC, a US-based residential and commercial automation company, in June 2023. This next-generation smart product can be easily configured as either a dimmer or switch, allowing installers to swiftly program LT-3300 devices to establish unique atmospheres for various occasions, such as entertaining or quiet family events. Owners benefit from seamless activation of customized scenes, system notifications, and control over intuitive lighting programs. The integration with URC's Total Control system and Accelerator software enables comprehensive networking, facilitating the launch of highly customized or frequently used lighting sequences, such as Good Morning, Dinner Party, and Good Night scenes.

Major players in the dimmer and color-tunable market are focusing on developing fully tunable LED light fixtures to provide homeowners and designers with greater control over their lighting environments. Fully tunable LED light fixtures empower users to regulate various lighting parameters, including brightness, color temperature, and hue. Crestron Electronics, a US-based electronics manufacturer, exemplifies this trend with the introduction of a range of fully tunable LED light fixtures in February 2022. These fixtures are designed to integrate with Crestron Home systems, offering control over hue, saturation, color temperature, and light intensity to create personalized lighting experiences. The emphasis is on supporting improved health and wellness in the home by optimizing lighting for well-being, mood, concentration, and creativity.

In June 2022 when Signify, a Netherlands-based lighting company, acquired Fluence for an undisclosed amount. This strategic acquisition aims to broaden Signify's offerings in LED lighting systems and services for growers. Fluence, a US-based company specializing in dimmers and LED lights, becomes part of Signify's portfolio through this acquisition.

Major companies operating in the dimmer and color tunable market report are Acuity Brands Lighting Inc., Cree Lighting Inc., Eaton Corporation plc, Daintree Networks Inc., Honeywell International Inc., Hubbell Inc., Koninklijke Philips N.V., Lutron Electronics Co. Inc., OSRAM GmbH, Leviton Manufacturing Co. Inc., Lite Puter Enterprise Co. Ltd., Cooper Industries, Schneider Electric SE, ABB Ltd., General Electric Company, Panasonic Corporation, Sensata Technologies Inc., Sharp Corporation, Maxim Integrated Products Inc., Linear Technology Corporation, Vishay Intertechnology Inc., Texas Instruments Incorporated, Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Silicon Laboratories Inc., Lifx.

Asia-Pacific was the largest region in the dimmer and color tunable market in 2023. The regions covered in the dimmer and color tunable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the dimmer and color tunable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The dimmer and color-tunable market consists of sales of wall-mounted switches, inductive dimming, switch dimming, white-tunable, and full-color-tunable. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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