The lighting market is changing rapidly. Prices for light-emitting diode (LED) lighting are falling fast and LED adoption is on the rise. Meanwhile control technology is improving, and it too is becoming less expensive. Building owners are beginning to expect fine control over their lighting systems, just as they have for their HVAC.
Navigant Research forecasts that revenue from networked lighting control equipment in commercial buildings will grow at a compound annual growth rate of 17.2 percent, reaching $5.3 billion globally by 2020.
We spoke to Jesse Foote of Navigant Research about the current vendor landscape, pricing and drivers of future adoption.