According to the latest research report on the global dimmer and color tunable market for the forecast period of 2022–2031, growing popularity of dimmers and color-tunable lights in a large number of industries, including medical & pharmaceutical, agriculture, and automotive across the globe is expected to boost the global market during the forecast period.
In terms of revenue, the global dimmer and color tunable market is estimated to reach value of ~US$ 36 Bn by 2027, expanding at a CAGR of ~8% during the forecast period.
Rising Demand for Color-tunable LED Luminaires Worldwide: A Key Driver
LED lighting is gaining significant popularity worldwide, owing to its higher energy efficiency than other light sources such as incandescent light. Regions, including North America, Europe, and Asia Pacific are continuously focusing on the replacement of traditional incandescent lights with LED lighting. With the advancement in technology, lighting from LEDs can be easily adjusted in accordance with the application or event. These lights are called color-tunable LED lights or luminaires.
Color tunable LED luminaires are the products whose CCT (correlated color temperature) can be controlled. Demand for color-tunable LED luminaires is on the rise across the globe, due to their increasing adoption in commercial as well as residential spaces. These lights are being adopted by restaurants and households, as they can mimic incandescent light.
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Moreover, color-tunable LED luminaires offer several health benefits, as they can mimic daylight exactly. This has a positive impact on the natural system as well as the circadian system of the human body.
Increasing demand for color-tunable LED luminaires is expected to have a high positive impact on the global dimmer and color tunable market in the near future.
Advancements in Color-tunable Light Technology: Latest Trend in Global Market
Color-tunable lighting has the ability to change the correlated color temperature (CCT) of light by using a controller. The global dimmer and color market is still undergoing the development stage. Demand for color-tunable lighting is continuously rising, owing to its benefits including high productivity and enhanced mood. With the rising demand for color-tunable lights, the technology is also evolving and manufacturers are coming up with technologically advanced products for a wide range of applications.
For instance, in October 2019, Lumishore, a manufacturer of luminaires, launched a new color-tunable light for marine smart lighting. The new product is especially made for use in the marine environment.
Furthermore, in April 2019, scientists from Lehigh University demonstrated color tuning of GaN-based (gallium nitride-based) LEDs. This would make a single LED capable of color tuning, as opposed to multiple LEDs used for color tuning.
Issues with Testing and Control of Color-tunable Products: A Major Challenge for Global Market
A large number of color-tunable lights are being launched in the global market, as a result of several benefits associated with them. Several manufacturers design and provide color-tunable lighting, such as Eaton and Lutron Electronics Co., Inc. However, multiple manufacturers applying different approaches or techniques while producing color-tunable products creates issues pertaining to control and testing of these products.
Guidelines for performing testing of color-tunable lighting are yet to be completely established. These guidelines hold key importance, as established testing methods neither enable precise comparison among different products nor help in identifying the difference between efficiency of products.
The impact of this restraint on the global market is projected to be low during the forecast period, as government agencies, such as the U.S. Department of Energy (DoE), are taking steps to come up with guidelines pertaining to testing of color-tunable products. With the emergence of more number of guidelines, this trend is projected to further continue during the forecast period.
Dimmer and Color Tunable Market: Competition Landscape
Degree of competition in the global dimmer and color tunable market is moderate, as well-established as well as emerging players are striving to gain a competitive edge by developing new and technologically advanced products to attract more number of customers
For instance, in January 2020, General Electric Company, a manufacturer of lighting products, announced the launch of new smart dimmers to be used in household applications. These dimmers have the ability to connect directly with a wireless network.
Furthermore, in October 2019, Lumishore, a manufacturer of luminaires, launched a new color-tunable light. The new product is especially made for use in the marine environment.
Dimmer and Color Tunable Market: Key Developments
Well-established players strive to gain a competitive edge by developing new and technologically advanced products to attract more customers.
In the report on the global dimmer and color tunable market, we have discussed individual strategies, followed by company profiles of providers of dimmers and color-tunable lights. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global dimmer and color tunable market.
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