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Smart LED Bulb Market Witnesses Significant Growth With Development of Smart Cities

Smart LED Bulbs Global Market Report 2022 by The Business Research Company – Market Size, Trends and Global Forecast 2022-2026
LONDON, Greater London, United Kingdom, March 4, 2022 /EINPresswire.com/ — The development of smart cities is a key factor driving the growth of the global smart LED light bulb market.Smart city lighting will play an important role in future growth, and the future of smart city street lighting systems will be the LED lighting network.With the rise of smart cities, the lighting control industry will be boosted, and countries will witness a revolution in lighting management.For example, in 2019 the Indian government committed to building 100 smart cities, and 99 cities have been announced as part of a $14 billion plan.Therefore, the development of smart cities is expected to drive the growth of the smart LED bulb industry.
Wi-Fi enabled LED bulbs are shaping the market for smart LED bulbs.The Wi-Fi enabled LED bulbs connect to the home router, so there’s no need for a network that reduces clutter and problems.Smart LED light bulb market trends include Wi-Fi enabled lights that can be easily operated via branded connected apps.They can also be used with smart assistants like Alexa and Google to monitor lights.Lifx is one of the upcoming Wi-Fi LED lights, and the brand is widely seen as Philips’ number one competitor, leading the way in new smart lighting.Although Lifx lights are more expensive than Philips’ offerings, they burn brighter, last longer, and emit infrared light in the dark, making them ideal for outdoor and porch fixtures near security cameras.
Read more about the Global Smart LED Bulbs Market Report: https://www.thebusinessresearchcompany.com/report/smart-led-bulbs-global-market-report
The global smart LED bulb market size is expected to grow from USD 8.89 billion in 2021 to USD 11.08 billion in 2022, at a compound annual growth rate (CAGR) of 24.6%.The market’s growth was primarily driven by companies resuming operations and adapting to the new normal while recovering from the COVID-19 impact, which earlier resulted in restrictive containment measures involving social distancing, remote work, and closure of business activities, which led to operations challenge.The smart LED bulb market is expected to reach USD 25.06 billion in 2026, growing at a CAGR of 22.6%.
Asia Pacific is the largest region for the smart LED bulb market in 2021.Western Europe is the second largest region for the smart LED bulb market.The regions covered in the Smart LED Bulb Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key players in the global smart LED light bulb industry include Legrand SA, Acuity Brands Inc., Eaton Corporation, General Electric Company, OSRAM Licht, Honeywell International Inc., Hubbell Incorporated, Koninklijke Philips NV, Cree Inc., and Lutron Electronics.
TBRC’s Global Smart LED Bulb Market report is classified by technology into wired technology, wireless technology, application to indoor lighting, outdoor lighting, installation type to new installation, retrofit.
Smart LED Bulbs Global Market Report 2022 – By Technology (Wired Technology, Wireless Technology), By Application (Indoor Lighting, Outdoor Lighting), By Installation Type (New Installation, Retrofit) – Market Size, Trends and 2022-2026 Global Forecast is one of a series of new reports from The Business Research Company that provides Smart LED Light Bulb Market Overview, Smart LED Light Bulb Market Forecast Smart LED Light Bulb Market Size and Smart LED Light Bulb Market Growth Overall Market, Smart LED Light Bulb Market Segmentation, Smart LED Light Bulb Market Light Bulb Market Geography, Smart LED Light Bulb Market Trends, Smart LED Light Bulb Market Drivers, Restraints, Revenue, Overview and Market Share of Leading Competitors.
Request a sample report on the Global Smart LED Light Bulb Market: https://www.thebusinessresearchcompany.com/sample.aspx?id=3170&type=smp
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Post time: Jan-01-2022