The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The development of smart cities are expected to drive innovation in smart LED bulbs manufacturing, thus driving the market during the forecast period.

The global smart LED bulbs market is expected to grow from $11.08 billion in 2022 to $13.81 billion in 2023 at a compound annual growth rate (CAGR) of 24.6%. The global smart led bulbs market is expected to grow to $29.42 billion in 2027 at a CAGR of 20.8%.

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Global Smart LED Bulbs Market Segments Include:

• By Technology:Wired Technology, Wireless Technology
• By Application:Indoor Lighting, Outdoor Lighting
• By Installation Type:New Installation, Retrofit
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global smart LED bulbs market in 2021.

Major Market Players in the smart LED bulbs market include Legrand S.A., Acuity Brands Inc., Eaton Corporation, General Electric Company, OSRAM Licht, Honeywell International Inc., Hubbell Incorporated.

Wi-Fi-enabled LED bulbs are 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 players 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 Smart LED Bulbs Global Market Report 2023 provides a smart LED bulbs market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smart LED bulbs market forecast analyzes smart LED bulbs market size, smart LED bulbs market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A smart bulb is an internet-enabled LED light bulb that allows the lighting to be personalized, programmed, and regulated. Smart LED bulbs are used in indoor and outdoor lighting.

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