Dimmer and Color Tunable Market Garner to $27 billion by 2031, At 8.5% CAGR | Key Dynamics

Innovation of wireless voice-controlled dimmer and color tunable drive the global dimmer and color tunable market.

WILMINGTON, DELAWARE , UNITED STATES, February 20, 2024 /EINPresswire.com/ — Dimmer and Color Tunable Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (Dimmer, Color Tunable), by Type (Incandescent and Halogen, Fluorescent, Light-Emitting Diode (LED), High Intensity Discharge (HID)), by Application (Commercial, Residential, Industrial): Global Opportunity Analysis and Industry Forecast, 2022-2031

The dimmer and color tunable market was valued at $12.4 billion in 2021, and is estimated to reach $27 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031. The market in Asia-Pacific was the largest in 2021, accounting for nearly two-fifths of the global dimmer and color tunable market and is likely to maintain its dominance during the forecast timeframe.

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A dimmer is a device that is used to control the brightness of a light. It does this by reducing the amount of electrical current that is supplied to the light, which in turn reduces the amount of light that is produced. A dimmer can be used with any type of light, including incandescent, fluorescent, and LED lights. A color tunable light is a type of light that can be adjusted to produce different colors of light. This is typically achieved by using a combination of different colors of LEDs, or by using filters to change the color of the light. Color tunable lights are often used in settings where the color of the light needs to be changed to match a particular mood or atmosphere, such as in stage lighting or in home theaters. They can also be used to help with tasks that require different colors of light, such as in photography studios or scientific laboratories.

Increase in use of smart lighting for energy conservation, integration of dimmer and color tunable with other smart home devices, and innovation of wireless voice-controlled dimmer and color tunable fuel the growth of the global dimmer and color tunable market. However, high cost, no compatibility with existing light systems, limited adoption of smart home technology and competition from other lighting controls hinder the global market growth. On the other hand, technological advancements in internet of things (IoT), home automation and LED lighting in dimmer and color tunable market will present new growth opportunities for the global dimmer and color tunable market in the coming years.

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Dimmer and color tunable lighting are increasingly used in vertical farming, to control the intensity and spectrum of light for different stages of plant growth. For example, during the vegetative stage, plants typically require more blue light, while during the flowering stage they require more red light. By using dimmer and color tunable lights, farmers can provide the specific light spectrum that their plants need at each stage of growth, which can help to optimize plant health and yield. Additionally, dimming the lights can also help to reduce energy consumption and costs.

In offices, dimmer and color tunable lights are used to create a comfortable and productive work environment. For example, using cooler white light during the day can help to increase alertness and concentration, while using warmer white light in the evening can help to reduce eye strain and improve sleep quality eventually increasing the dimmer and color tunable market share. In hospitality, dimmer and color tunable lights are used to create different ambiances in different areas of a hotel or restaurant, such as a cozy and pleasant atmosphere in a lounge or a bright and energetic atmosphere in a fitness center. Overall, dimmer and color tunable lights provides a wide range of benefits in different industries by creating a better work environment and reducing the energy consumption. These are the few dimmer and color tunable market trends witnessed during the forecast period.

The development of wireless voice-controlled dimmer and color tunable, integration of dimmer and color tunable with other smart home devices, and increased use of smart lighting for energy conservation are important factors influencing the growth of the global dimmer and color tunable industry. The market for dimmer and color tunable is anticipated to grow significantly during the forecast period. Additionally, technological advancements in internet of things (IoT), home automation, and LED lighting are anticipated to present huge opportunities for the expansion of the dimmer and color tunable market during the forecast period. The dimmer and color-tunable market, on the other hand, is being held back by rising costs, incompatibility with present lighting systems, a delayed uptake of smart home technologies, and competition from alternative lighting systems.

Based on application, the industrial segment contributed to the largest share of more than half of the global dimmer and color tunable market in 2021 and is likely to dominate the market in 2031. This is due to increasing adoption of smart lighting technology and the growing focus on sustainability in industrial settings. Industrial dimmers and color tunable lighting could potentially be used in vertical farming applications to help create the optimal growing conditions for plants. However, the residential segment is projected to witness the fastest CAGR of 9.25% from 2022 to 2031. Color tunable lighting allows homeowners to adjust the color temperature of light to suit their preferences. This trend has become increasingly popular in recent years as it allows homeowners to easily create the desired ambiance in a room.

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The key players profiled in the report include ACUITY BRANDS, INC., Cree Lighting, Eaton Corporation, Honeywell International Inc., Hubbell, Koninklijke Philips N.V, Legrand, Lite-Puter,Lutron Electronics Inc, and OSRAM GmbH. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the dimmer and color tunable market growth.

KEY FINDINGS OF THE STUDY
• In 2021, the dimmer segment accounted for maximum revenue and is projected to grow at a notable CAGR of 7.88% during the dimmer and color tunable market analysis.
• The color tunable segment is estimated to reach $million by 2031, at a significant CAGR of 9.05% during the forecast period.
• The industrial segment was the highest revenue contributor to the market in 2021.
• The light-emitting diode (led) segment was the highest revenue contributor to the market, with a CAGR of 10.32%.
• Asia-Pacific and North America collectively accounted for around 63.79% share in 2021.

David Correa
Allied Market Research
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