Emergence of Wireless Networking Technologies Will Drive the Global Connected Bulb Market Until 2020, Says Technavio
By Business Wire News
By Business Wire News
According to the latest market research report by Technavio, shipments in the global connected bulb marketare expected to surpass 191 million units by 2020.
In this report, Technavio covers the present scenario and growth prospects of the global connected bulb market for 2016-2020. Technavio researchers have covered some of the major technologies used for manufacturing connect bulbs. The report also presents the major vendors that manufacture connected bulbs across regions such as the Americas; APAC; and Europe, the Middle East, and Africa (EMEA).
“The emergence of various wireless networking technologies such as Bluetooth, Wi-Fi, ZigBee, and Z-Wave has led to the launch of next-generation lighting systems. Lighting manufacturers utilize these wireless communication technologies to manufacture their connected devices and ecosystems. Zigbee, which is based on the IEEE 802.15.4 standard for personal area networks, will emerge as a leader in the low-power networking market,” said Sunil Kumar Singh, one of Technavio’s lead industry analysts for embedded systems.
Global meal replacement market by geography 2015
- Americas 49.10%
- EMEA 35.21%
- APAC 15.69%
Source: Technavio research
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Connected bulb market in the Americas: largest region
In 2015, the Americas dominated the market with a share of approximately 49.1%. Government agencies and utilities are focusing on advanced metering infrastructure, which will indirectly accelerate the adoption of connected bulbs in the region. The installed base of ZigBee smart meters in the Americas is expected to reach more than 200 million units by 2020. The installation of ZigBee or Wi-Fi smart meters will compel consumers to build wireless technology infrastructure for their homes. The energy benefits derived by the use of smart meters will encourage them to equip their homes with smart devices and accelerate the adoption of connected bulbs.
Connected bulb market in the EMEA: second-largest region
EMEA accounted for 35.21% of the global connected bulb shipments in 2015. Government regulations to ban low-voltage halogen lamps and the increasing focus on energy-efficient lighting solutions are some of the major factors that augment the adoption of connected bulbs in the region.
Rising power prices in countries such as France, Italy, Spain, and the UK have compelled both consumers and government utilities to adopt energy-efficient solutions. Consumers are adopting smart home devices to conserve energy and reduce their electricity bill expenses. EMEA is the second-fastest-growing region in terms of the number of smart homes. In 2015, the smart home penetration rate in the region was close to 14%, and it is expected to reach 29% by 2020.
Connected bulb market in the APAC
APAC is the highest-growing market in terms of connected bulb unit shipments, growing at a CAGR of 152.9% during the forecast period. In 2015, it accounted for 15.69% of the market share because of low internet penetration. The penetration rate of connected households in the region was only 5%, and the IoT infrastructure that includes connected devices, networks, platforms, and applications, was found to be not as developed when compared to the other two regions. However, this landscape is expected to change by 2020 as government agencies, organizations, and consumers have realized the return on investments promised by the implementation of IoT.
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