This market research report presents a comprehensive analysis of the global connected bulb market by technology (ZigBee, Wi-Fi, Bluetooth, and others) and by geography (the Americas, APAC, and EMEA). Key vendors in this market are Belkin, Cree, LiFi Labs, Osram Sylvania, Philips, and GE.
Technavio has released a new market research report on the global connected bulb market, which is expected to grow at a CAGR of almost 120% by 2020. Connected bulbs enable consumers to control their lights via wireless technologies such as Bluetooth low energy (BLE), ZigBee, Wi-Fi, Z-Wave, Thread, and 6LoWPAN. Connected LED bulbs have a low carbon footprint and consume less power compared to the competing technologies such as compact fluorescent lamps. Currently, the Americas lead the global connected bulb market, accounting for around 40% of the total market share. Much of this region’s high growth comes from the high internet penetration and the presence of a well-developed IoT infrastructure.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Rise in energy prices have created a string demand for smart homes. Wireless technology helps consumers connect items like thermostats, electric meters, lighting, heating, and appliances to save energy. 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. Many vendors in this industry are raising project capital through crowdfunding and harnessing consumer interest right from the start, which in turn will augment the prospects for growth in this market until 2020,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
The ZigBee technology is expected to occupy around 57% of the global connected bulb market during the forecast period. Since it is a low-power version of Wi-Fi and is ideal for applications like security, controlling temperatures, and remote control, it is the leading wireless technology for connected devices.
The key players in the global connected bulb market are Belkin, Cree, LiFi Labs, Osram Sylvania, Philips, and GE. With a lot of new developments happening in wireless and networking technologies like Bluetooth and ZigBee, the smart device manufacturers are able to offer innovative products like connected bulbs. The global market for connected bulbs is very fragmented due to the presence of a large number of vendors in the market.
A more detailed analysis is available in the Technavio report, Global Connected Bulb Market 2016-2020.
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