(EnergyIndustry.Net, July 07, 2021 ) Wi-Fi enabled LED bulbs are a key trend gaining popularity in the smart lighting market. The smart Wi-Fi LED Bulb is an internet-enabled LED light bulb that can be remotely operated, scheduled and personalized. The smart Wi-Fi LED bulb contains user data capabilities and can protect user information on the cloud via its smartphone app. For instance, in October 2020, Panasonic introduced a smart LED bulb which provides multi-color lighting options and automatic scheduling features. The smart bulb can be operated via the Panasonic smart Wi-Fi app, which can link to and use the Wi-Fi activated Smart bulb via the Google and Alexa Assistant vocal control features.
The smart lighting market consists of sales of smart lighting products and services used as a lighting medium for ensuring energy efficiency. The use of sensors for instances like automatic light dimming or adjusting the brightness of light depending on the mood of the user is one of the features of smart lighting. A smart lighting system ensures high-cost savings and lower energy usage.
Smart Lighting Market Report Segments:
1) By Product: Smart Bulbs, Fixtures, Lighting Controls
2) By Application: Commercial, Government, Residential, Others
3) By Light Source: LED, HID, Others
4) By Communication Technology: Wired, Wireless
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The global smart lighting market is expected grow from $11.07 billion in 2020 to $12.62 billion in 2021 at a compound annual growth rate (CAGR) of 14%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.57 billion in 2025 at a CAGR of 16%.
Smart Lighting Market - By Product (Smart Bulbs, Fixtures, Lighting Controls), By Light Source (LED, HID, Other Light Sources), By Communication Technology (Wired, Wireless), By Application (Commercial, Governmental, Residential, Others) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, smart lighting market segments and geographies, smart lighting market trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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