Smart Color Light Bulb Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global smart color light bulb market is anticipated to grow at a CAGR of 16.3% during the forecast period (2022-2028). The smart color light bulb comes with various features such as music sync function, control from anywhere, million color options, voice control, and dimmable, which makes it more efficient, power saving, cost effective, and a leisure choice for the consumers. Global demand for smart color light bulbs is predicted to rise due to advancements in wireless technology and a spike in IoT technology for hyper-connectivity between devices in smart infrastructure. In diverse applications such as vertical farming, automobile interiors, and smart homes, the integration of artificial intelligence and IoT in lighting systems delivers operational efficiencies such as auto-dimming and intelligent illumination as needed.

In today's market, there is a great need for the creation of technology that uses less energy. The majority of these systems are electronic or electrical and thus rely on power and energy sources to function. Due to the depletion of these energy sources, the development of energy-efficient technologies has accelerated. In comparison to traditional lighting, a smart color light bulb consumes significantly less energy, creating a potential smart color light bulb market opportunity. The global smart color light bulb market trends are driven by factors such as an increase in demand for intelligent street lighting systems in developing and developed countries, an increase in the need for energy-efficient lighting systems for sustainable development, and a high penetration of LED bulbs and lighting globally.

Some major players in the market include Acuity Brands, Inc, Cisco Systems, Inc., Cree, Inc., Deco Lighting, Inc., Eaton, and Syska Led Lights Pvt. Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.

Syska Led Lights Pvt Ltd offers Syska 12-Watt B-22 Wi-Fi Enabled Smart LED Bulb. Any Wi-Fi router will work. Adjustable Ambience from Warm to Cool Light. Controls for the App. Retro-Fit B-22 Set Timers. There are 16 million different color shades. Alexa and Google Assistant are compatible.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Connectivity Technology
•By Application
•By Lighting Technology
•By Industry Vertical
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Acuity Brands, Inc, Cisco Systems, Inc, Cree, Inc, Deco Lighting, Inc, Eaton, Syska Led Lights Pvt Ltd,among others.

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Global Smart Color Light Bulb Market Report by Segment
By Connectivity Technology
•Bluetooth
•WiFi
•Others
By Application
•Indoor Lighting
•Outdoor Lighting
By Lighting Technology
•LED
•Halogen
•Incandescent
•Fluorescent
•CFL
By Industry Vertical
•Residential
•Commercial
•Industrial
•Automotive
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

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This release was published on openPR.