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In-Depth Analysis of the Smart LED Bulbs Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Smart LED Bulbs Market Share
The smart LED bulb market is being propelled by the rapid evolution of smart cities. The role of lighting in these digitally advanced localities will be crucial for future expansion, with LED lighting systems taking over street lighting. As smart cities continue to rise, so will the lighting controls industry, prompting a dramatic shift in light management practices worldwide. For example, the number of smart cities has grown from 118 in 2021 to 141 in 2023, as reported by the International Institute for Management Development's (IMD) Smart City Index Report in April 2023. Thus, the upscaling of smart cities is anticipated to fuel the growth of the smart LED bulb market.
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What is the projected compound annual growth rate (CAGR) of the smart led bulbs market from 2025 to 2034, and what factors influence it?
The market size of smart LED bulbs has experienced exponential growth in the past few years. The market size is set to expand from $16.95 billion in 2024 to $20.98 billion in 2025 marking a compound annual growth rate (CAGR) of 23.8%. Factors driving growth during the historical period include an increase in energy efficiency and cost savings, the integration of smart homes, environmental sustainability, convenience and automation, and the reduced cost of LED technology.
The market size for smart LED bulbs is projected to experience quick expansion in the near future, with an estimated worth of $39.9 billion in 2029, growing at a compound annual growth rate (CAGR) of 17.4%. The growth during this period can be ascribed to factors such as incorporation with voice assistants, lighting features designed for health and wellness, the proliferation of smart lighting in commercial areas, progress in connected lighting technologies, and governmental strategies towards energy efficiency. Trends to look out for during the forecast period include the integration of human-centric lighting and circadian rhythms, the application of thread protocol for connectivity, inclusion of advanced sensors, growth in smart led strips and panels, and rising usage of Bluetooth mesh networking.
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How are the latest trends influencing the growth of the smart led bulbs market?
A significant trend in the smart LED bulb market is Wi-Fi-enabled LED bulbs. These particular bulbs connect directly to the home's router, eliminating the need for an additional network and thus reducing mess and potential issues. Using the corresponding brand's application, these Wi-Fi-integrated lights are simple to control. Additionally, they can work in conjunction with smart assistants like Alexa and Google for light regulation. Lifx, rising in popularity for Wi-Fi LED lights, is largely viewed as a main competitor to Philips, pioneering in the field of advanced lighting solutions. Despite Lifx lights being pricier than their Philips counterparts, they shine brighter, endure longer, and emit infrared light in darkness, making them ideal for external and entrance lights close to security cameras.
What are the major segments of the smart led bulbs market and their role in driving growth?
The smart LED bulbs market covered in this report is segmented -
1) By Technology: Wired Technology, Wireless Technology
2) By Installation Type: New Installation, Retrofit
3) By Application: Indoor Lighting, Outdoor Lighting
Subsegments:
1) By Wired Technology: Power Line Communication (PLC), Zigbee Wired Solutions
2) By Wireless Technology: Wi-Fi Enabled Bulbs, Bluetooth Enabled Bulbs, Zigbee Wireless Solutions, Z-Wave Wireless Solutions
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Which regions are key players in the growth of the smart led bulbs market?
Asia-Pacific was the largest region in the smart LED bulbs market in 2024. Western Europe was the second-largest region in the global smart LED bulbs market share. The regions covered in the smart led bulbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the smart led bulbs market?
Major companies operating in the smart LED bulbs market include General Electric Company, Panasonic Corporation, LG Electronics Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd, Eaton Corporation plc, Koninklijke Philips N.V., Wipro Enterprises Ltd, Legrand S.A., Signify N.V., OSRAM Licht AG, Hubbell Incorporated, Acuity Brands Lighting Inc., Dialight PLC, Zumtobel Group AG, Cree Inc., Lutron Electronics Co. Inc., Leviton Manufacturing Company Inc., Helvar Ltd, Synapse Wireless Inc., Enlighted Inc., LightwaveRF PLC, TVILIGHT B.V, Adesto Technologies Corporation, RAB Lighting Inc.
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What Is Covered In The Smart LED Bulbs Global Market Report?
•Market Size Forecast: Examine the smart led bulbs market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart led bulbs market for a structured understanding.
•Key Players Overview: Analyze major players in the smart led bulbs market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart led bulbs market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart led bulbs market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart led bulbs market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart led bulbs market.
•Competitive Landscape: Review strategic developments in the smart led bulbs market, including expansions, agreements, and new product launches.
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