Global power over ethernet (POE) lighting market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Power over ethernet (POE) enables the LAN switching infrastructure to deliver power to an endpoint over a copper ethernet cable. Power over ethernet (POE) lighting is a system that offers both data connection and electric power to the light fixtures with the help of single standard Cat 5 or Cat 6 cable.
The factors that are playing a major role in the growth of the market are the increasing demand for POE based products in the commercial sector, high level of dependability, and cost-efficient installation. However, the high cost of POE switches may restrain overall market growth in the years to come. Power over ethernet (POE) lighting market is segmented based on the product type, application, and region.
Powered device controllers & ICs and power sourcing equipment controllers & ICs are the product types that could be explored in power over ethernet (POE) lighting market in the forecast period. Powered device controllers & ICs sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come.
The market could be categorized based on applications like industrial, residential, commercial, and others could be explored in power over ethernet (POE) lighting in the forecast period. The commercial sector accounted for the significant market share of power over ethernet (POE) lighting and is estimated to continue its dominance in the years to come. The reason behind the overall sector growth could be the growing demand for POE-based products. Also, the residential sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial market share of power over ethernet (POE) lighting industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising demand for POE controllers & ICs and the presence of key manufacturers in this region. The United States and Canada are the major consumers of power over ethernet (POE) lighting in this region.
The Asia Pacific and Europe are also estimated to have a positive influence on future growth. The Asia Pacific is the second largest region with significant market share. The developing countries like India and China are the major consumers of power over ethernet (POE) lighting in this region. However, Europe is estimated to grow at the highest CAGR in the forecast period. The key players of power over ethernet (POE) lighting market are Igor, Cisco Systems, NuLEDs, Innovative Lighting, Cree, Molex, and Philips Lighting. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.