Press release
COVID 19 Impact On Smart LED Bulbs Market 2020-2030: Competitive Analysis By Legrand S.A., Acuity Brands, Inc. , Eaton Corporation, General Electric Company, OSRAM Licht
Smart LED Bulbs Market
The global smart LED bulbs market is expected to decline from $8.82 billion in 2019 and to $7.5 billion in 2020 at a compound annual growth rate (CAGR) of -15%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted negatively. The market is then expected to recover and reach $14.09 billion in 2023 at CAGR of 23.4%.
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The smart LED bulbs market consists of sales of smart LED bulbs and related services that are used in indoor and outdoor lighting. The smart LED bulb establishments are primarily engaged in the manufacturing smart LED bulbs and required accessories. Smart bulb is an internet-enabled LED light bulb that allows the lighting to be personalized, programmed and regulated.
The development of smart cities is a key factor driving the growth of the smart LED bulbs market. The lighting of smart cities will play a major role in the future growth and the future of street lighting systems in smart cities will be LED lighting network. With the rise of smart cities, the lighting controls industry will be driven as countries will witness a revolution in the areas of light management. For instance, in 2019, the Indian government is committed to creating 100 smart cities, and as part of the US$ 14 billion plan, 99 cities have already been announced. Therefore, the development of smart cities is expected to drive the smart LED bulbs market.
Smart LED Bulbs Market Segmentation: -
By Technology
Wired Technology
Wireless Technology
By Application
Indoor Lighting
Outdoor Lighting
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Few Points From Table Of Content
1. Executive Summary
2. Smart LED Bulbs Market Characteristics
3. Smart LED Bulbs Market Size And Growth
4. Smart LED Bulbs Market Segmentation
5. Smart LED Bulbs Market Regional And Country Analysis
.....
25. Smart LED Bulbs Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Smart LED Bulbs Market
27. Smart LED Bulbs Market Trends And Strategies
28. Smart LED Bulbs Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Smart LED Bulbs Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Smart LED Bulbs Market are Legrand S.A., Acuity Brands, Inc. , Eaton Corporation, General Electric Company, OSRAM Licht, Honeywell International Inc., Hubbell Incorporated, Koninklijke Philips N.V., Cree, Inc., Lutron Electronics
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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