According to the report analysis, ‘Global Smart LED Bulbs Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027’ states that GE Lighting, Philips Hue, Feit Electric, LIFX, Nanoleaf Aurora, Eaton, Cree, Inc., Sylvania and many more are the foremost entities which presently operating in the global smart LED bulbs market more proficiently for keep maintaining the governing position, ruling around the globe, registering the great value of market share, leading the highest market growth, obtaining the competitive edge and generating the highest percentage of revenue by improving the applications and advantages of smart LED bulbs, establishing the countless research and development programs, spreading the awareness connected to the benefits and features of smart LED bulbs, employing the young and active personnel, delivering the better customer satisfaction, implementing the policies of profit making and strategies of expansion, analysing the strategies and policies of government as well as similar entities and increasing the applications and advantages of smart LED bulbs.
On the basis of types, the global smart LED bulbs market is classified into ZigBee, Wi-Fi, and Bluetooth. On the basis of application, the global smart LED bulbs market is categorized into household and commercial.
In current years, the Asia-Pacific region saw noteworthy growth in the smart LED Bulb market, and over the review period, it is predicted to have the highest growth. Generating and developing smart infrastructure in the region, scaled establishment of smart lighting framework over the private and commercial segments, and growing investments by the government on public infrastructure are augmenting the growth of the market in the region.
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In addition, owing to advancements in technology and the development of new business models as well as new constructions in the underdeveloped cities of the region, the smart lighting market is unveiling an upbeat outlook. The booming commercial and industrial segments would further fuel the implementation of smart LED bulbs in APAC. Furthermore, growth in end-use sectors and increasing investments from government bodies are also favoring the growth of the smart LED bulb market in the region. The most noteworthy factor propelling the growth of this market is the necessity of energy-efficient connected lighting controls and ongoing and upcoming smart city projects in underdeveloped economies.
The initiation of integrated lighting control systems, forthcoming smart city projects in developing economies, growing adoption and deducting cost of LEDs, integration of lighting solutions with smart devices, and augmenting awareness about energy savings among consumers and governments globally are the foremost factors underwriting to the growth of the smart LED bulbs market.
Not only has this, the high requirement for public safety and communication infrastructure development and citizen enablement and engagement as well as the augmented adoption rate of advanced technologies are some of the foremost factors that are propelling the smart LED bulb market. Therefore, it is predicted that the market of smart LED bulb will increase around the globe more actively over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications