More and more building owners are installing networked lighting controls as prices of the systems fall, driving growth in revenue for the controls from $2.2 billion in 2015 to $4.8 billion in 2024, according to a new report by Navigant Research.

“Intelligent Lighting Controls for Commercial Buildings” estimates total revenue for the commercial market at $38.2 billion from 2015 to 2024.

“The falling cost of including controls in lighting projects has made the decision to implement these systems much easier,” says Jesse Foote, senior research analyst with Navigant Research. “From dimming ballasts to controls software, as well as the prices of LEDs themselves, all of the key components in networked lighting controls systems are becoming less expensive.”

Navigant sees the market for networked lighting controls paralleling society’s shift away from the fluorescent lighting to light-emitting diodes (LEDs).

The report discusses key industry players Honeywell International and Schneider Electric, two large controls vendors. Leading lighting vendors listed are Acuity Brands, Bridgelux, Cree, GE Lighting, OSRAM and Philips Lighting. Lighting controls focused companies included in the report are Daintree Networks, Digital Lumens and Enlighted.