The North America Power Over Ethernet (Poe) Lighting Market would witness market growth of 29.4% CAGR during the forecast period (2023-2030).
PoE lighting has several advantages in comparison to traditional lighting systems. It simplifies installation by removing the need for distinct electrical wiring, reducing complexity and expenses. In addition, Poe lighting permits centralized control and monitoring, which enables sophisticated lighting management and automation features. Additionally, it offers scalability and flexibility for reconfiguration as lighting needs change, making it suited for dynamic environments. PoE lighting systems can also integrate with other smart building technologies, such as occupancy sensors and building management systems, to enable thorough control and energy efficiency.
The market is anticipated to expand significantly over the forecast period due to rising government investments, initiatives, and demand for connectivity. Furthermore, it is projected that the rising demand for smart workplaces in developing nations would offer attractive prospects for expanding the market. The primary reasons propelling the market's growth are the rising adoption of PoE lighting solutions in commercial and healthcare applications, the penetration and declining cost of LEDs, and the rising demand for reasonably priced lighting solutions. Opportunities for the industry include expanding automated system usage, better PoE standards for increased power, speed, and efficiency.
The region has witnessed increased population awareness and residential and commercial space costs. Foreign travel is essential to the US economy. Before the pandemic in 2019, foreign tourists contributed around $640 million per day to the American economy by spending $233,5 billion. The travel & tourism industry has created $1.9 trillion in economic output and contributed 2.9% to the nation's gross domestic product. Furthermore, the region's government supports the sector and provides cultural experiences, promotes participation in sports activities in Ontario, Canada, to raise the standard of living, and promotes the region's economic growth. Therefore, the increasing tourism and smart homes construction is leading to a boom in demand for PoE lighting, which will aid in the expansion of the regional market in the future years.
The US market dominated the North America 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 $1,382.1 million by 2030. The Canada market is showcasing a CAGR of 32.3% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 31.1% 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 Up to 25 Watt. Based on Application, the market is segmented into Industrial, Commercial, and Residential. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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.
By Offering
By Wattage
By Application
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