Press release
Smart Bulb Market Detailed Analysis and Huge Growth by Top Players - Acuity Brands (US), OSRAM (Germany), Cree (US)
According to this study, over the next five years the Smart Bulb market will register a 10.8% CAGR in terms of revenue, the global market size will reach $ 592.9 million by 2025, from $ 393.6 million in 2019.
The major key players covered in this report: Philips Lighting (Signify) (Netherlands), Acuity Brands (US), OSRAM (Germany), Cree (US), General Electric (US), Hubbell (US), Eaton (Ireland), Zumtobel Group (Austria), Honeywell (US), Hafele Group (Germany), Legrand (France), and Lutron Electronics (US).
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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In Smart Bulb market, the Home holds an important share in terms of applications, and it is expected to reach a volume of 27456 (K Units) by 2025, at a CAGR of 12.98% during 2019 and 2025.
APAC is expected to be the fastest-growing market for Smart Bulb during the forecast period. The market has enormous growth potential in APAC, and these systems are likely to be accepted by consumers as an integral part of a digitalized household. Moreover, the emerging economies of China and India have a positive impact on the overall market in APAC. The increased construction activities in APAC are contributing significantly to the growth of the market in the region. The expected construction of ~200 million homes in China and 18 million homes in India is likely to provide several new opportunities for energy-efficient lighting and home automation in the next few years in this region. Rising government expenditure on public infrastructure, increasing the adoption of energy-efficient lighting systems are the major driving factors for the growth of the Smart Bulb market in APAC.
This report segments the global Smart Bulb Market based on Types are:
ZigBee, Wi-Fi, Bluetooth, Others.
In 2018, Wi-Fi accounted for a major share of 41.02% in the global Smart Bulb market. And this product segment is poised to reach 337.8 million US$ by 2025 from 148.1 million US$ in 2018.
Based on Application, the Global Smart Bulb Market is Segmented into:
Home, Office, Shopping, Hospitality, Others.
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In August 2017, Osram (Germany) acquired Digital Lumens (US). This acquisition enabled OSRAM to strengthen its portfolio of connected lighting systems used in industrial buildings by leveraging the IoT expertise of Digital Lumens
In May 2017, GE (US) introduced Amazon Alexa-embedded lighting. It is a voice-driven lighting system for the residential application, which features with visual clock and sleep-enhancing light, among others
In August 2016, Cree (US) introduced the XLamp MHB-B LED. The XLamp MHB-B LED is a new high-power LED that offers a more effective way to lower system costs for high-lumen lighting applications, such as high-bay, roadway, and outdoor area, compared to mid-power LEDs.
In July 2016, Cree (US) and Avnet, Inc. (US) announced a strategic agreement to expand the coverage of Cree in the Americas for the distribution of its comprehensive portfolio of innovative LED components including Chip-on-Board and LED modules.
Regions covered By Smart Bulb Market Report.
North America: United States, Canada, and Mexico.
Central and South America: Brazil and Argentina.
The Middle East and Africa: Saudi Arabia, and Turkey.
Europe: Germany, France, UK, Italy, Spain, and Russia.
Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, and Singapore.
These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis of segmentation help in offering precise results about the markets related to industry.
Significant Features that are under Offering and Key Highlights of the Reports:
- Detailed overview of Smart Bulb Market
- Changing Smart Bulb market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected Smart Bulb market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Smart Bulb Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/01201783072/global-smart-bulb-market-growth-2020-2025?source=MW&mode=86
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and Chinese and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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