SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Power over Ethernet (PoE) Lighting - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 5; Released: November 2021
Executive Pool: 1042
Companies: 34 - Players covered include Allnet GmbH; Cisco Systems; Deco Lighting; Eaton Corporation; H.E. Williams Company; Herbert Waldmann GmbH & Co. Kg (Waldmann Lighting); Hubbell Incorporated; Ideal Industries (CREE); Igor Inc; Innovative Lighting (Genisys); Leviton; Microsemi Corporation (Microchip Technology Inc.); Microsens (Euromicron Ag); Molex (Koch Industries); Netgear; North American Manufacturing Enterprises (NAME) Energy Group (MHT Lighting); Nuleds; Signify Holding (Philips Lighting N.V.); The IBS Group LLC; Ubiquiti Networks, Inc.; Wipro Lighting (Wipro Enterprises) and Others.
Coverage: All major geographies and key segments
Segments: Offering (Hardware, Software & Services); Wattage (Up to 25W, Above 25W); Application (Commercial, Industrial, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Power over Ethernet (PoE) Lighting Market to Reach US$738.9 Million by the Year 2026
Power-over-Ethernet is an evolving technology that has been designed for delivering data and power on an Ethernet cable simultaneously. Modeled on the basis of telecommunication systems that supply power to telephones, PoE delivers power to devices without the requirement of an additional AC power outlet. The growing popularity of PoE in this increasingly unified and intelligent world can be put into perspective by the fact that over 90% of VoIP applications utilize PoE, while the technology's penetration in smart lighting and security surveillance are growing rapidly. PoE lighting is garnering much interest of owners as well as operators of industry facilities, as they allow enhancement in performance and better energy management. PoE lighting solutions can have a major positive impact on cost-saving and sustainability strategies of these facilities. Similar to IoT systems, PoE systems allow for collection of real-time insights and other useful data about production costs and operational efficiencies. The systems can also gather data about potential problems which could occur in the facilities. PoE lighting is being considered a cost-effective lighting solution especially for industry facilities, smart buildings and such other deployments which demand immediate RoI. PoE lighting control systems enables users to also simplify control system management so that their facilities are operated more efficiently.
Amid the COVID-19 crisis, the global market for Power over Ethernet (PoE) Lighting estimated at US$191.7 Million in the year 2020, is projected to reach a revised size of US$738.9 Million by 2026, growing at a CAGR of 25.2% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 23% CAGR to reach US$562.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software & Services segment is readjusted to a revised 29.4% CAGR for the next 7-year period. This segment currently accounts for a 30.9% share of the global Power over Ethernet (PoE) Lighting market.
The U.S. Market is Estimated at $78 Million in 2021, While China is Forecast to Reach $117.8 Million by 2026
The Power over Ethernet (PoE) Lighting market in the U.S. is estimated at US$78 Million in the year 2021. The country currently accounts for a 33.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$117.8 Million in the year 2026 trailing a CAGR of 34.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21.1% and 24.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 24.6% CAGR while Rest of European market (as defined in the study) will reach US$67.5 Million by the end of the analysis period. Developed economies of North America and Europe represent the leading regional markets for PoE solutions. In North America, the presence of several leading manufacturers of PoE equipment, including Broadcom, Cisco, HPE and Dell EMC, is favoring market growth. The growth in PoE solutions market is also supported by the increasing adoption of IoT for factory and building automation purposes. European market for PoE solutions will be fostered by growing acceptance of the solutions supported by favorable government policies. More
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