Industry Background:
The globally connected bulb market is expected to high in the forecasted period due to increased demand from outdoor lighting applications. A connected bulb is an internet-capable LED light bulb that allows lighting to be customized, scheduled and controlled remotely. Several industry giants have collaborated to provide wireless technology that offers seamless connectivity and operability among IoT-type devices. Connected bulbs work very efficiently and are more durable than incandescent bulbs. These bulbs along with smart appliances offer end-users numerous benefits like reduced energy costs, remote access, safety, and a better quality of living.
This growth is primarily driven by Rising Demand For Intelligent Lighting Solutions and Growing Requirement Of Energy Efficient Lighting.
Globally, a noticeable market trend is evident Increasing Awareness about Energy Saving Among Government and Consumers
. The Electric Utilities sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Cree (United States), Osram Sylvania (United States), Philips (Netherlands), GE Lighting (United States), Belkin (United States), LiFi Labs (United States), Wink Labs Inc (United States) and Ilumi Solutions Inc (Hong Kong) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 5th September 2019, Signify, the world leader in lighting is unveiling a suite of new bulbs and smart accessories from smart lighting brand Philips Hue at a special event during IFA, including filament bulbs, smart plugs, smart buttons and more, to help bring connected lighting to all homes. and On 13th May 2019, Cree, Inc. has announced today that it has completed the sale of its Lighting Products business unit to IDEAL INDUSTRIES, Inc. The transaction includes the LED lighting fixtures, lamps, and corporate lighting solutions business for commercial, industrial and consumer applications.
On 28th November 2018, Cree, Inc. has announced the FLEX Series LED Troffer, a new lighting system that gives architects and lighting specifiers remarkable design freedom, to address the USD 1.2 billion specification tier of the industry.
Market Drivers
- Rising Demand For Intelligent Lighting Solutions
- Growing Requirement Of Energy Efficient Lighting
Market Trend
- Increasing Awareness about Energy Saving Among Government and Consumers
- Modernization and Infrastructure Developments Worldwide
Restraints
- High Installation Cost Associated with Connected Bulb
Opportunities
Growing Number of Smart City Projects and Development Of Various Technology in Lighting Solutions
Challenges
Absence of Universal Open Standard
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Connected Bulb Study Sheds Light on
The Connected Bulb Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Connected Bulb industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Connected Bulb industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.