Friday, 22 January 2021

Dimmer and Color Tunable Market 2021 | Latest Report Indicates Massive Growth by 2027

Transparency Market Research delivers key insights on the global dimmer and color tunable market. In terms of revenue, the global dimmer and color tunable market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global dimmer and color tunable market.

A dimmer is a device that helps in adjusting or controlling the intensity or brightness of the light source, including incandescent, HID, LED, and CFL. It helps in reducing the energy usage by various light sources, which helps in conserving a large amount of energy. Furthermore, color-tunable products enable variation or adjustment in the CCT (correlated color temperature) through input control. Color-tunable products also help in improving the work efficiency and increasing the productivity, as they are capable of mimicking various light sources.

Dimmer and Color Tunable Market: Dynamics

Lighting consumes a significant portion of energy across the world. With the evolution of technologies, LED lighting is introduced, which offers a higher level of energy efficiency than the traditional lamps. Governments of countries across the world are encouraging the use of LED lights in residential, commercial, and industrial premises. In addition to this, governments of countries in Europe, North America, and Asia Pacific are phasing out conventional light sources by replacing them with energy-efficient LED lights. Furthermore, in view of energy saving, various lighting companies, including Lutron Electronics Company and Cree, Inc., have introduced color-tunable and dimmable lights.

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These lights can help organizations and households across the globe in conserving energy and protecting the environment. Moreover, for promoting the adoption of dimmable lights in commercial spaces, technological advancements are continuing worldwide. For instance, in 2019, the CSIR-Advanced Materials and Processes Research Institute (CSIR-AMPRI) introduced the dimmable LED street lighting technology. The new technology would be useful to save a large amount of energy. Government efforts to save a large amount of energy require prominent use of LED lights that are dimmable as well as color tunable.

Several luminaires have drivers and engines that drive the current from AC voltage supply toward the LED light. In case of any issue with the light, drivers can be easily replaced. Since the demand for color-tunable LED luminaires is increasing across the world led by various benefits associated with them, manufacturers are also investing in producing technologically advanced light drivers. This helps in altering the color temperature of light to make it suitable for use in various applications. For instance, in 2019, OSRAM Licht AG, a lighting manufacturer based in Germany, launched a tunable white light system for use in healthcare settings, offices, and educational spaces. The new system consists of LED drivers and engines that can be adjusted within the range of 2,700 K – 6,500 K.

A unique research methodology is utilized by TMR to conduct comprehensive research on the global dimmer and color tunable market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

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Secondary research sources referred to by analysts during production of the report on the global dimmer and color tunable market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global dimmer and color tunable market, as a primary research source.

These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global dimmer and color tunable market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global dimmer and color tunable market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global dimmer and color tunable market more reliable and accurate.

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