Future Growth of Global Smart LED Bulbs Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Major players in the smart LED bulbs market are Legrand S.A., Acuity Brands, Inc., Eaton Corporation, General Electric Company, OSRAM Licht, Honeywell International Inc., Hubbell Incorporated, Koninklijke Philips N.V., Cree, Inc., and Lutron Electronics. The Global Smart LED Bulbs Market is expected to decline from USD 8.82 billion in 2019 and to USD 7.5 billion in 2020 at a compound annual growth rate (CAGR) of -15%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted negatively. The market is then expected to recover and reach USD 14.09 billion in 2023 at CAGR of 23.4%. The smart LED bulbs market consists of sales of smart LED bulbs and related services that are used in indoor and outdoor lighting. The smart LED bulb establishments are primarily engaged in the manufacturing smart LED bulbs and required accessories. Smart bulb is an internet-enabled LED light bulb that allows the lighting to be personalized, programmed and regulated. Europe was the largest region in the smart LED bulbs market in 2019. North America and Asia Pacific were the fastest growing regions in the smart LED bulbs market in the forecast period. In October 2019, Signify, the world leader in connected LED lighting systems, software and services, acquired Eaton Corporation for USD 1.4 billion in cash. Through this acquisition Signify estimates that the Cooper deal will increase its revenues from the Professional sales sector from 42% to 53% of total sales. Increasing that sector revenue share will presumably rise the margins significantly. Eaton Corporation, an Ireland based company, provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. The smart LED bulbs market covered in this report is segmented by technology into wired technology; wireless technology. It is also segmented by application into indoor lighting; outdoor lighting. The higher cost of installation of smart LED bulbs is a key factor hampering the growth of the smart LED bulbs market. The initial cost of integrating or replacing the lighting system in industrial installations is high, especially for small and medium-sized industries. Popular brands of smart LED bulbs such as Philips Hue and LIFX can at times charge as much as USD 60 per bulb, depending on factors such as form, size and whether they can produce different colours or simply varying shades of white. Therefore, higher cost of installation is expected to limit the growth of the smart LED bulbs market. The Wi-Fi enabled LED bulbs is a key trend in the smart LED bulbs market. Wi-Fi-enabled LED bulbs connect to the home router and therefore, do not need a network that cuts down on clutter and problems. Wi-Fi capable lights can be operated easily through the brand-connected application. They can also be used with smart assistants, like Alexa and Google, to monitor the lights. Lifx is one of the upcoming player for Wi-Fi LED lights, the brand is widely seen as Philips’ top competitor, leading the way in new, intelligent lighting. Although Lifx lights are more expensive than the products of Philips, they burn brighter, last longer, and give off infrared light in the dark, making them suitable for outdoor and porch fixtures near security cameras. The development of smart cities is a key factor driving the growth of the smart LED bulbs market. The lighting of smart cities will play a major role in the future growth and the future of street lighting systems in smart cities will be LED lighting network. With the rise of smart cities, the lighting controls industry will be driven as countries will witness a revolution in the areas of light management. For instance, in 2019, the Indian government is committed to creating 100 smart cities, and as part of the USD 14 billion plan, 99 cities have already been announced. Therefore, the development of smart cities is expected to drive the smart LED bulbs market. For More Information, Click on the Link Below:- Global Smart LED Bulbs Market Related Reports:- Global Smart LED Bulbs Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 Global Smart LED Bulbs Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027 Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Acuity Brands Smart LED Bulbs Market Size, Asia-Pacific Smart LED Bulbs Market, Australia Smart LED Bulbs Market, China Smart LED Bulbs Market, Covid-19 Impact Global Smart LED Bulbs Industry, Covid-19 Impact Global Smart LED Bulbs Market, Eaton Corporation Smart LED Bulbs Market Revenue, Europe Smart LED Bulbs Market, General Electric Company Smart LED Bulbs Market Share, Germany Smart LED Bulbs Market, Global Smart LED Bulbs Industry, Global Smart LED Bulbs Industry Research Report, Global Smart LED Bulbs Market, Global Smart LED Bulbs Market Analysis, Global Smart LED Bulbs Market Forecast, Global Smart LED Bulbs Market Future Outlook, Global Smart LED Bulbs Market Growth, Global Smart LED Bulbs Market Major Players, Global Smart LED Bulbs Market Overview, Global Smart LED Bulbs Market Research Report, Global Smart LED Bulbs Market Share Global Smart LED Bulbs Market Revenue, Global Smart LED Bulbs Market Trends, India Smart LED Bulbs Market, Indoor Lighting Market, Japan Smart LED Bulbs Market, North America Smart LED Bulbs Market, OSRAM Licht Smart LED Bulbs Market Share, Outdoor Lighting Market, Smart LED Bulbs Market, Smart LED Bulbs Market Competitive Landscape, Smart LED Bulbs Market Regional Analysis, Smart LED Bulbs Market Segmentation, Smart LED Bulbs Market Supply Chain, Wired Technology Market, Wireless Technology Market