Global Dimmer And Color Tunable Market Size 2024, Forecast To 2033
6 Mar, 2024
The dimmer and color tunable market has demonstrated robust growth, increasing from $16.89 billion in 2023 to $18.52 billion in 2024, reflecting a solid compound annual growth rate (CAGR) of 9.6%. The growth in the historic period is attributed to factors such as energy efficiency regulations, heightened consumer demand for customization, prevailing architectural and interior design trends, growing environmental awareness, and government incentives supporting the industry. Moving forward, the dimmer and color tunable market is expected to maintain its strong growth trajectory, reaching $25.67 billion in 2028 at a CAGR of 8.5%. The growth in the forecast period is associated with factors including the integration of smart home systems, increased Internet of Things (IoT) connectivity, growth in the commercial sector, trends related to health and well-being, and adherence to regulatory standards. Major trends for 2028 encompass the adoption of advanced LED technologies, seamless integration with smart home systems, a continued emphasis on customization and personalization, adherence to regulatory compliance, and ongoing technological innovations.
Global Dimmer and Color Tunable Market Key Driver
The increasing demand for energy-saving LEDs is expected to propel the growth of the dimmer and color-tunable market going forward. LEDs (Light Emitting Diodes) refer to semiconductor devices that emit light when an electric current is passed through them. LEDs have emerged as a popular choice for use in dimmers and color-tunable lighting solutions due to their long lifespan, color-tuning capabilities, and versatility. For instance, according to the U.S. Department of Energy, a US-based federal agency, LED lighting is becoming increasingly popular, accounting for 84% of all lighting installations and offering the potential to save 4.8 quads of energy every year by 2035. Therefore, increasing demand for energy-saving LEDs drives the dimmer and color-tunable market. In 2023, the dimmer and color-tunable market was valued at $X billion, and by 2024, it is projected to reach $Y billion. Looking ahead to 2028, the market size is anticipated to grow to $Z billion.
Get A Free Sample Of The Global Dimmer and Color Tunable Market ReportGlobal Dimmer and Color Tunable Market Segments
The dimmer and color tunable market covered in this report is segmented –
1) By Product: Dimmer, Color Tunable
2) By Light source: Incandescent And Halogen, Fluorescent, Light-Emitting Diode (LED), High-Intensity Discharge(HID)
3) By End-User: Commercial, Residential, Other End-User
By Geography:The regions 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
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
Major Dimmer and Color Tunable Industry Players
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
Get The Full Global Dimmer and Color Tunable Market Report
Dimmer and Color Tunable Market Overview
Dimmer and color-tunable refer to devices that are used to control the brightness and color temperature of lighting systems. It is commonly used in homes, offices, and public spaces to adjust the lighting levels to meet the needs of the users.
Dimmer and Color Tunable Global Market Report 2023 provides data on the global dimmer and color tunable market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The dimmer and color tunable market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.