The global Power over Ethernet (PoE) lighting market accounted for $191.61 million in 2018 and is expected to reach nearly $2.6 billion by 2027, according to a report from Research and Markets. growing at a CAGR of 33.6% during the forecast period. Rising need for cost-effective lighting solutions and increasing penetration and decreasing cost of LEDs are the factors driving the growth of the market. However, high cost of PoE switches and requirement of additional equipment is restraining the market.
PoE describes any of several standards or ad-hoc systems which pass electric power along with data on twisted pair Ethernet cabling. This allows a single cable to provide both data connection and electric power to devices such as wireless access points, IP cameras and VoIP phones.
Among end-users, the industrial segment has a growing prominence in the near future. The industrial segment includes lighting in production halls, warehouses and other indoor areas. The utilization of PoE can improve the execution of a smart lighting system in an office or industrial application. Industries and factories are now concentrating on energy-efficient lighting solutions attributable to the government regulations for energy saving. Along these lines, POE lighting is among the favored solutions being adopted by them.
Based on geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to increasing infrastructure development projects being undertaken in the region, primarily in China, where smart lighting makes ready for the modernization of infrastructure. The industries present in this region are concentrating on the modernization of their spaces. This is further likely to make open doors for PoE lighting vendors.
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Power Over Ethernet Lighting – Global Market Outlook (2018-2027)