Smart Color Light Bulb Market Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - Philips Lighting, General Electric Company

The global Smart Color Light Bulb Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 20.26% during the review period (2022 to 2027)

Smart Color Light Bulb Market Overview

Smart Color lighting is designed to manage luminance remotely. It ensures energy efficiency and contains automated controls and highly efficient fixtures that could be adjusted depending on conditions such as occupancy and external lighting. Smart Lighting is an intentional use of light to add practical and aesthetic effect to a space. Also, these systems include general, accent, and task lighting. Also this, smart lighting systems ensure lower energy usage and high cost savings. Technological advancements and developments in several countries have revolutionized the outdoor luminescence from on & off system to smart luminescence. Adoption of IoT and AI technology in the lighting industry has improved the demand for smart lighting for city streets. This leads to the increase in need for luminescence systems that provide automated operations. Modern smart lighting systems are based on light-emitting diode (LED) technology and involve progressive drivers with dynamic spectral light reproduction and advanced sensing capabilities. The ultimate feature is additional advanced facilities serving as the hub for optical communications that allow coexistence with traditional WiFigateways in indoor environments. In the diverse digital communication interfaces intended for smart lighting, WiFi is appropriate for the programming of predefined areas and spaces. In these systems, usually, the areas are segmented depending on the people or events. The LED bulbs can be controlled from wherever using a WiFi network and mobile Internet. Features of this system contain dimmable lights to remotely turn them on or off. Custom schedules can be defined to control each light separately or as a group in different areas of a house. The system can be turned on automatically at sunset or changed to be dimmable to watch a movie or turn off later the user leaves home.

Industry News

March 2021 - Hubbell Control Solutions presentation a new and improved NX Distributed Intelligence™ Lighting Control Panel (NXP2 Series) that centralizes connection points in an enclosure providing an installer-friendly solution that reduces time and costs to deploy code compliant-lighting control. The new NX Panel willsupport various internal and external lighting applications, including commercial, retail, education, industrial, and parking, and site lighting.

September 2020 - LIFX (Buddy Technologies) presentation new Lifx Clean LED in North America. This smart light was the world's first antibacterial, germicidal smart light that works as a disinfectant with different colors and had a voice control feature as well.

What are the major Applications, Types and Regions for Smart Color Light Bulb Market?

By Type, it is segmented int

• Wifi Light Bulb


• Speaker Light Bulb


• Bluetooth Light Bulb


• Others

By Applications it is segmented into

• Household


• Commercial


• Others

Smart Color Light Bulb Market Regional Analysis

In current years, the Asia-Pacific region saw significant growing in the smart lighting market, and over the forecast period, it is probable to have the highest growth. Creating and developing smart infrastructure in the region, scaled establishment of smart lighting framework over the private and commercial sectors, and growing investments by the government on public infrastructure are increasing the growth of the market in the region.

GSMA estimates that China might account for approximately 4.1 billion IoT connections, which is almost one-third of the global IoT connections, by 2025. Smart lighting systems are probable to be the biggest beneficiary of the trend, during the forecast period. Technology giants in the country, like Tencent, Baidu, JD, and Alibaba, are introducing their smart system solutions. Majority of the Chinese market share is distributed between these giants. These domestic brands are trendy and are probable to drive the market growth.

The Indian housing industry is one of the quickest rising sectors of India. Smart City Mission for 100 cities in the country is driving the market for smart lightings. With a new initiative undertaken in Chandigarh, India plans to convert 3,802 street lights into sensor-based intelligent lighting system, below the Smart City Mission. Initiatives like these, taken by other states as well, could drive the market progress during the forecast period.

North America

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  • US
  
  
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• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Smart Color Light Bulb Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Smart Color Light Bulb Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Smart Color Light Bulb Market Report Scope?

Key Takeaways from this Smart Color Light Bulb Report

• Evaluate Smart Color Light Bulb market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Smart Color Light Bulb market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

FAQ -

What is the study period of this market?

The Smart Color Light Bulb Market is studied from 2017 - 2027.

 What is the growth rate of Smart Color Light Bulb Market?

The Smart Color Light Bulb Market is growing at a CAGR of 20.26% over the next 5 years.

What regions does this Smart Color Light Bulb Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.