Bluetooth LED bulb market was valued at US$136.847 million in 2017 and is projected to grow at a CAGR of 16.45% over the forecast period to reach US$341.326 million by 2023.
Bluetooth LED bulb is a technology that makes the use of smart lighting control process to control light based on various parameters, namely color, movement, occupancy, and amount of natural light. Growing adoption of smart light technology and solution for hospitality, office, and home is majorly driving the demand for Bluetooth LED bulbs across the globe. Rising number of smartphone and tablet users is further fuelling the demand for smart LED bulbs that can be controlled with the help of these devices. Newly enacted stringent power efficiency standards by national as well as international organizations have also augmented the demand for more efficient and environmentally friendly LED bulbs. Other factors that are propelling the growth of global Bluetooth LED bulb market include declining prices of LED bulbs and supportive government initiatives. Asia Pacific holds the largest market share of global Bluetooth LED market owing to the falling LED prices in this region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Bluetooth LED bulb value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Bluetooth LED bulb market.
Major industry players profiled as part of the report are Signify Holding, FLUX Lighting, LG, and General Electric Company among others.
|Market size value in 2017||US$136.847 million|
|Market size value in 2023||US$341.326 million|
|Growth Rate||CAGR of 16.45% from 2017 to 2023|
|Forecast Unit (Value)||USD Million|
|Segments covered||Compatible Device Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Signify Holding, FLUX Lighting , LG, General Electric Company, Jimi Software™, SMARSSEN, SAMSUNG, EGLO Leuchten GmbH|
|Customization scope||Free report customization with purchase|
Bluetooth LED bulb market has been analyzed through following segments:
By Compatible Device Type
Middle East and Africa
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