Bluetooth LED Bulb Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.44 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bluetooth LED Bulb Market Analysis
The Bluetooth led bulb market is expected to register a CAGR of 9.44% over the forecast period of (2021 - 2026). Bluetooth LED bulb is a novel technology that makes the use of intelligent lighting control systems to manage light, based on various parameters, like movement, color, temperature, occupancy, and amount of natural light. Due to it's increasing cost competitiveness, this technology has begun to compete in a variety of lighting applications successfully. Also, these bulbs can now be operated through specially designed remote controls or smartphone app features. Moreover, the growing significance of smart homes is further expected to drive the demand for these Bluetooth connected bulbs. In August 2018, the Chicago Department of Transportation announced the implementation of Streetlight Modernizing Program with the aim to replace 270,000 conventional street lights with LED bulbs in the next four years. Such developments of the government and Industrial bodies to reduce energy cost has been impact the LED light demand and is expected to positively impact the market.
- 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
This section covers the major market trends shaping the Bluetooth LED Bulb Market according to our research experts:
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
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Acuity Brands Lighting Inc.
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Delta Light N.V.
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Eaton Corporation PLC.
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General Electric Company
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Osram GmbH
*Disclaimer: Major Players sorted in no particular order
Bluetooth LED Bulb Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Demand for Energy-Efficient Lighting Systems
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4.2.2 Smart Lighting Shaping Infrastructure Modernization
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4.3 Market Restraints
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4.3.1 Lack of Awareness Regarding Installation Costs and Payback Periods
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4.4 Industry Attractiveness - Porter's Five Force Analysis
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4.4.1 Bargaining Power of Buyers/Consumers
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4.4.2 Bargaining Power of Suppliers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By End-User
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5.1.1 Industrial
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5.1.2 Commercial
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5.1.3 Residential
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5.2 Geography
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5.2.1 North America
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5.2.2 Europe
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5.2.3 Asia-Pacific
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5.2.4 Rest of the World
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Acuity Brands Lighting Inc.
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6.1.2 Delta Light N.V.
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6.1.3 Eaton Corporation PLC.
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6.1.4 Evluma
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6.1.5 General Electric Company
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6.1.6 Ilumi Solutions Inc.
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6.1.7 Ledvance GmbH
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6.1.8 Luceco PLC.
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6.1.9 OPPLE Lighting Co.
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6.1.10 Osram GmbH
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Bluetooth LED Bulb Industry Segmentation
Bluetooth LED bulb is a technology that makes the use of intelligent lighting control systems to manage light, based on various parameters, like movement, color, temperature, occupancy, and amount of natural light. Due to it’s increasing cost competitiveness, this technology has begun to compete in a variety of lighting applications successfully. Also, these bulbs can now be operated through specially designed remote controls or smartphone app features.
| By End-User | |
| Industrial | |
| Commercial | |
| Residential |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Bluetooth LED Bulb Market Research FAQs
What is the current Bluetooth LED Bulb Market size?
The Bluetooth LED Bulb Market is projected to register a CAGR of 9.44% during the forecast period (2024-2029)
Who are the key players in Bluetooth LED Bulb Market?
Acuity Brands Lighting Inc., Delta Light N.V., Eaton Corporation PLC., General Electric Company and Osram GmbH are the major companies operating in the Bluetooth LED Bulb Market.
Which is the fastest growing region in Bluetooth LED Bulb Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bluetooth LED Bulb Market?
In 2024, the Europe accounts for the largest market share in Bluetooth LED Bulb Market.
What years does this Bluetooth LED Bulb Market cover?
The report covers the Bluetooth LED Bulb Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bluetooth LED Bulb Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bluetooth LED Bulb Industry Report
Statistics for the 2024 Bluetooth LED Bulb market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Bluetooth LED Bulb analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
