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LONDON, GREATER LONDON, UNITED KINGDOM, November 22, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The smart LED bulbs market has grown exponentially, from $13.8 billion in 2023 to $17.2 billion in 2024 at a CAGR of 24.6%. This growth is attributed to energy efficiency, home automation, environmental sustainability, and the decreasing cost of LED technology.
What Are the Forecasts in the Global Smart LED Bulbs Market Size for Market Growth and Annual Expansion?
The smart LED bulbs market is forecast to grow rapidly, reaching $34.57 billion by 2028 with a CAGR of 19.1%. Growth drivers include voice assistant integration, smart lighting expansion, and energy efficiency initiatives. Trends include human-centric lighting, sensor integration, and Bluetooth mesh networking.
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What Are The Key Growth Drivers In The Smart LED Bulbs Market?
The development of smart cities is fueling the growth of the smart LED bulb market. As smart cities emerge, LED lighting networks will play a key role in lighting solutions, contributing to the growth of this market.
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Who are the Key Industry Players Stepping Up in the Smart LED Bulbs Market?
Major companies operating in the market report are General Electric Company, Panasonic Corporation, LG Electronics Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd, Eaton Corporation plc, Koninklijke Philips N.V., Wipro Enterprises Ltd, Legrand S.A.
What Trends Are Shaping The Growth Of The Smart LED Bulbs Market Size?
Wi-Fi-enabled LED bulbs are a popular trend in the smart LED bulbs industry, with brands like Lifx competing with Philips by offering brighter, longer-lasting lights that are ideal for use near security cameras.
What Are the Different Segments of the Global Smart LED Bulbs Market?
1) By Technology: Wired Technology, Wireless Technology
2) By Installation Type: New Installation, Retrofit
3) By Application: Indoor Lighting, Outdoor Lighting
Geographical Insights: Asia-Pacific Leading The Smart LED Bulbs Market
Asia-Pacific was the largest region in the smart LED bulbs global market in 2023. Western Europe was the second-largest region in the market share. The regions covered in the smart led bulbs report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Smart LED Bulbs Market?
A smart bulb is an LED light that connects to the internet, allowing users to remotely control, customize, and schedule lighting.
The Smart LED Bulbs Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Smart LED Bulbs Market Report: Trends, Opportunities, Strategies, and More
The Smart LED Bulbs Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the smart led bulbs market size, smart led bulbs market drivers and trends, smart led bulbs global market major players, smart led bulbs competitors' revenues, smart led bulbs global market positioning, and smart led bulbs market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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