The Smart LED Bulbs Global Market Report 2023 by The Business Research Company, provides smart led bulbs market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with the insightful revelations presented in The Business Research Company’s Smart LED Bulbs Global Market Report for the year 2023, an anticipatory trajectory is discerned, propelling the market size from the commendable $11.08 billion attained in 2022 to an estimable $13.81 billion by the close of 2023. This ascendancy is underpinned by a robust compound annual growth rate (CAGR) of 24.6%, indicative of the industry’s dynamic resilience and evolutionary thrust.
Regrettably, the geopolitical reverberations of the Russia-Ukraine conflict have cast a formidable shadow over the global economic recuperation in the immediate aftermath of the COVID-19 pandemic. The ensuing sanctions, upswing in commodity prices, and labyrinthine supply chain disruptions have precipitated a pervasive inflationary wave across commodities and services, resonating in multifarious markets worldwide. In this intricate landscape, the global smart LED bulbs market is poised to burgeon exponentially, envisioning a noteworthy augmentation to $29.42 billion by 2027, riding the crest of a commendable CAGR of 20.8%.
A pivotal catalyst steering this surge is the advent of smart cities, a transformative phenomenon that augurs well for the smart LED bulb market. The illumination of smart cities stands as a linchpin for prospective expansion, with the future of street lighting systems being inexorably tethered to LED lighting networks. The concomitant rise of smart cities is set to galvanize the lighting controls industry, fomenting a revolution in the realms of light management across nations.
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The smart led bulbs market is segmented:
1) By Technology: Wired Technology, Wireless Technology
2) By Application: Indoor Lighting, Outdoor Lighting
3) By Installation Type: New Installation, Retrofit
Top 5 Major Players:
Within the contours of emerging trends, Wi-Fi-enabled LED bulbs emerge as a lighthouse, guiding the course of the smart LED bulbs market. These technologically adept luminaires seamlessly integrate with home routers, obviating the need for extraneous networks, thereby mitigating clutter and operational impediments. The user-friendly interface, facilitated through brand-connected applications, empowers effortless control, further complemented by compatibility with virtual assistants such as Alexa and Google, affording users the convenience of light monitoring.
Among the vanguard proponents of this paradigm shift is Lifx, poised as a preeminent competitor to industry stalwart Philips. Notwithstanding a premium price point, Lifx distinguishes itself by radiating a brilliance that outshines contemporaries, boasting extended lifespan, and emitting infrared light conducive to outdoor applications, particularly in proximity to security cameras, thereby positioning itself as a torchbearer in the realm of intelligent lighting.
The smart led bulbs market report table of contents includes:
1. Executive Summary
2. Smart LED Bulbs Market Characteristics
3. Smart LED Bulbs Market Trends And Strategies
4. Smart LED Bulbs Market – Macro Economic Scenario
5. Smart LED Bulbs Market Size And Growth
…..
26. Africa Smart LED Bulbs Market
27. Smart LED Bulbs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart LED Bulbs Market
29. Smart LED Bulbs Market Future Outlook and Potential Analysis
30. Appendix
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