Bluetooth LED Bulb Industry

Bluetooth LED Bulb Market Analysis

The Bluetooth LED Bulb Market is expected to register a CAGR of 9.44% during the forecast period.

• Rising awareness regarding technologies such as wireless optical networking data transmission, light fidelity, and the Internet of Things (IoT) is expected to positively impact the market. Over the past few years, the growing demand for energy-efficient lighting systems has been promoting the adoption of advanced products including Bluetooth LED bulbs.
• Increasing adoption of smart lighting solutions for hospitality, home, and the office is majorly driving the demand for Bluetooth LED bulbs. With the rising number of smartphone and tablet users, demand for smart LED bulbs controlled by Bluetooth connectivity is also driving.
• Other factors that are propelling the growth of the global Bluetooth LED bulb market include declining prices of LED bulbs and supportive government initiatives.
• Governments are adopting smart lighting projects to save energy and money. As per a report by the US Energy Information Administration, around 39% of total energy cost is incurred through lighting. It has been observed that smart LED lighting has the ability to reduce energy costs in office buildings and industrial installations by 90%.
• One of the major factors restraining the growth of the Bluetooth LED bulb market is increasing competition from IoT and wi-fi enabled LED bulbs.

Bluetooth LED Bulb Market Trends

Rising Demand from Industrial and Commercial 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 the ‘Industrial 4.0’ revolution is helping the LED fixtures market make rapid strides in industrial applications.
• Factors such as high demand for cost-effective and energy-saving LED lighting, government campaign towards LED adoption, and the need for replacing traditional lighting are expected to fuel the growth of the industrial and commercial LED lighting market. However, voltage sensitivity and temperature dependence are expected to hinder the market growth. On the contrary, surge in need for smart lighting is expected to offer lucrative opportunities for industrial and commercial LED lighting market expansion.
• Lighting consumes approximately 15% of total global power consumption. Moreover, lights produce around 5% of global carbon emission. Thus, the United Nations Environment Programme (UNEP) has released certain guidelines on energy-saving lighting solutions to reduce carbon emissions.
• With rapid urbanization and rapid economic growth, the lighting industry is expected to grow exponentially over the next two decades, resulting in more high demand for LED-based lighting. Thus, the need for more LED-based lighting for effective energy saving and cost saving is expected to drive the Industrial and commercial LED lighting market growth in the coming years.

Asia-Pacific to be 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 outdated technology is replaced by something more advanced and profitable.
• In India, the government supported the plan of deploying cost-effective LED’s across the end-users has received a warm response. According to the government, LED adoption was driving 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.

Bluetooth LED Bulb Industry Overview

The Bluetooth led bulb market isfragmented due to the market consist of many large players as well as new players.Companies are also trying to innovate their existing products to cater to increasing demand from consumers which makes the market competitive. Some of the major players areAcuity Brands Lighting Inc.,Delta Light N.V.,Eaton Corporation PLC., Evluma, General Electric Company,Ilumi Solutions Inc.,LedvAcuity Brands Lighting Inc.ance GmbH,Luceco PLC.,OPPLE Lighting Co., Osram GmbH, among others.

• October 2018 - General Electric announced that its smart LED bulbs series C had been integrated to work with Google Home devices via a Bluetooth connection, which will let the consumer control lightings through voice commands.

Bluetooth LED Bulb Market Leaders