CHICAGO, May 19, 2021 /PRNewswire/ — According to the report “Power Over Ethernet Lighting Market with COVID-19 Impact Analysis by Offering (Hardware, Software and Services), Wattage (Up to 25 Watts, Above 25 Watts), Application (Commercial, Industrial), and Geography – Global Forecast to 2026”, published by MarketsandMarkets™, the PoE Lighting market is projected to reach USD 922 million by 2026 from USD 243 million in 2021; it is expected to grow at a CAGR of 30.6% from 2021 to 2026. North America has the largest market share for PoE lighting. Whereas, APAC is expected to witness the highest growth during the forecast period owing to the rapidly changing face of technology and customer needs in high-potential markets such as China, Japan, South Korea, and Australia. Due to advancements in technology and the emergence of new business models as well as new constructions in the developing cities of the region, the PoE lighting market is exhibiting an upbeat outlook. The booming commercial and industrial sectors would further fuel the adoption of PoE lightings in APAC. Furthermore, growth in end-use sectors and mounting investments from government bodies are also favoring the growth of the PoE lighting market in the region. China is projected to witness the highest demand for PoE lighting in the region.
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The above 25-watt segment, in the market by wattage, of the PoE lighting market, is…
