The Asia Pacific Power Over Ethernet (Poe) Lighting Market would witness market growth of 31.1% CAGR during the forecast period (2023-2030).
The increasing prevalence of connected devices across various industries presents lucrative possibilities for market companies to broaden their global footprint. As a result of PoE lighting technology's communication with Alexa and Siri, and other smart home and virtual assistant devices, it has been widely adopted by consumers globally. The product’s demand is also aided by Next-Generation Light-Fidelity (Li-Fi) technology. Using a light emitting diode (LED), Li-Fi is an advanced wireless communication system that transmits data wirelessly. Lighting over PoE eliminates the need for pricey installation. This is another crucial aspect that affects acceptance in professional and industrial settings.
Smart retail trends are other major variables influencing market growth. Organizations are embracing digital disruptions to remain relevant, profitable, and talent attractive. Owners and operators of commercial facilities are increasingly interested in PoE lighting for enhanced energy management and performance. PoE enables installers to operate, manage, and power a building's lighting system. Businesses are increasingly motivated to combine multiple systems into a single, secure network infrastructure to boost flexibility, efficiency, and performance, stimulating market revenue growth. Furthermore, the use of PoE to power network devices is expanding in acceptance due to the growing popularity of remote offices and smart retail. Therefore, as commercial companies adopt more automated and smarter systems, the PoE lighting market is anticipated to grow.
Asia Pacific is experiencing a boom in the market. Due to the affordability of the land for the construction of new commercial buildings and manufacturing facilities, the presence of several lighting manufacturers, and the continued expansion of commercial, industrial, and smart office buildings, China is expected to create huge demand for PoE lighting. The nation adopts technology more rapidly than other nations in the region and is an industry leader in the production of lighting equipment.
As incentives for industrial growth investments, Chinese cities offer affordable land, adequate infrastructure, and a sizable workforce. The rapidly expanding economies of China, Japan, India, and South Korea are expected to drive the APAC market. By 2032, the demand for electricity in the residential and commercial building sectors is expected to increase by 5 and 3 times, respectively. All these factors will uplift the regional market expansion in upcoming years.
The China market dominated the Asia Pacific Power Over Ethernet (Poe) Lighting Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $412 million by 2030. The Japan market is experiencing a CAGR of 30.1% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 31.7% during (2023 - 2030).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Wattage, the market is segmented into Above 25 Watt, and Upto 25 Watt. Based on Application, the market is segmented into Industrial, Commercial, and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Power Over Ethernet (Poe) Lighting Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 30.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ALLNET GmbH, Axis Lighting, Inc., Cisco Systems, Inc., Herbert Waldmann GmbH & Co. KG, Hubbell Incorporated, Koch Industries, Signify N.V., Wipro Lighting (Wipro Enterprises Private Limited), H. E. Williams, Ideal Industries, Inc.
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