Market Research Report
Global Bluetooth LED Bulb Market - Segmented by Material (Plastic, Metal, Glass), and Region - Growth, Trends and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||393531|
|Published||Content info||101 Pages
Delivery time: 1-2 business days
|Global Bluetooth LED Bulb Market - Segmented by Material (Plastic, Metal, Glass), and Region - Growth, Trends and Forecast (2018 - 2023)|
|Published: May 14, 2018||Content info: 101 Pages||
The global bluetooth LED bulb market is expected to witness a CAGR of 8.64% over the forecast period of 2018-2023. The report discusses end-users of this technology. While the regions considered in the scope of the report include North America, Europe, etc., it also emphasizes on how increasing demand for energy-efficient lighting systems is affecting the market.
Bluetooth LED bulb is a novel technology that makes the use of intelligent lighting control systems to manage light, based on various parameters, like movement, color, temperature, occupancy, and amount of natural light. Due to it's increasing cost competitiveness, this technology has begun to compete in a variety of lighting applications successfully. Also, these bulbs can now be operated through specially designed remote controls or smartphone app features. Moreover, the growing significance of smart homes is further expected to drive the demand for these Bluetooth connected bulbs. Given the flexibility of LEDs, in terms of color variation and brightness, it makes more sense for connected systems using Bluetooth to incorporate LEDs than traditional lighting sources. In addition to this, the longevity of LED's compared to substitutes is anticipated to drive the demand for LED deployment across end-users.
Increasing Demand For Energy-Efficient Lighting Systems to Drive the Market
LEDs emit light in a specific direction, reducing the need for reflectors and diffusers. This feature makes LEDs more efficient for many uses such as recessed downlights and task lighting. Moreover, unlike incandescent bulbs, which release 90% of their energy as heat LEDs use energy far more efficiently with little-wasted heat. Also, changes in regulatory standards favoring the use of energy-efficient lighting applications in all major end-user industries have been one of the primary drivers for the growth of the LED market. For instance, the European Union has banned the use of mercury vapor lamps from 2015 in favor of more energy-efficient lamps. In addition to this, the integration of sensors and intelligent lighting controls will offer greater flexibility to end users in terms of energy efficiency and ease of use. Thus, driving the Bluetooth LED bulb market.
Rising Demand from Industrial Sector to Augment the Growth
The factory and production lines are the largest application area for industrial lighting solutions. Factory and production lines are upgrading to critical lighting solutions, such as LEDs and connected lighting solution, to receive an immediate payback on their investment through improved light quality and control. Moreover, technological advancements in manufacturing along with high investments owing to 'Industrial 4.0' revolution is helping the LED fixtures market make rapid strides in industrial applications.
Asia-Pacific is the Fastest Growing Market
Asia-Pacific is currently experiencing a tremendous shift in lighting systems, where companies in this region have been identified to adopt LED lights in industries and manufacturing plants, as compared to its counterparts like incandescent and LFL owing to the improved efficiency of LED lighting systems. China has been gradually reducing the sale of incandescent light bulb products over the last five years, ensuring that the outdated technology is replaced by something more advanced and profitable. In India, the government supported plan of deploying cost-effective LED's across the end-users has received a warm response. According to the government, LED adoption is driving to an annual energy savings of over 3,340 crore kWh and resulting in avoidance of over 6,725 MW of peak demand. Also, the growing smart homes market in India is expected to increase the demand for Bluetooth LED bulbs.
Key Developments in the Market
January 2018: LEDVANCE announced Bluetooth mesh qualified LED lighting products, which leverage Cypress' Bluetooth mesh technology. Cypress' solutions facilitate a low-cost, low-power mesh network of devices that can communicate with each other and with smartphones, tablets and voice-controlled home assistants, via simple, secure, and ubiquitous Bluetooth connectivity.
The major players include - GENERAL ELECTRIC COMPANY, ACUITY BRANDS LIGHTING, INC., OSRAM GMBH, EATON CORPORATION PLC., LEDVANCE GMBH, OPPLE LIGHTING CO., LUCECO PLC., DELTA LIGHT, ILUMI SOLUTIONS INC., EVLUMA, amongst others.
Reasons to Purchase the Report
To analyze the effects of increasing demand for energy-efficient lighting systems on the market.
Analyzing various perspectives of the market with the help of Porter's Five Forces Analysis.
To identify the end-users that are expected to grow the fastest during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
List not Exhaustive