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Bluetooth LED Bulb Market Size, Share, Opportunities, And Trends By Compatible Device Type (Smartphones, Laptops, Tablets), By Application (Residential, Commercial), And By Geography - Forecasts From 2019 To 2024

Published: May 2020 | Report Code:  KSI061610433 | Pages:  114

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.

Segmentation

Bluetooth LED bulb market has been analyzed through following segments:

By Compatible Device Type

Smartphones

Laptops

Tablets

 

By Application

Residential

Commercial

 

By Geography

North America

U.S.

Canada

Others

 

South America

Brazil

Others

 

Europe

UK

Germany

France

Others

 

Middle East and Africa

Saudi Arabia

UAE

Israel

Others

 

Asia-Pacific

Japan

China

India

Others


Frequently Asked Questions (FAQs)

Q1. What will be the bluetooth LED bulb market size by 2023?
A1. The bluetooth LED bulb market is projected to reach a market size of US$341.326 million by 2023.
 
Q2. What is the size of global bluetooth LED bulb market?
A2. Bluetooth LED Bulb market was valued at US$136.847 million in 2017.
 
Q3. What are the growth prospects for bluetooth LED bulb market?
A3. The global bluetooth LED bulb market is projected to grow at a CAGR of 16.45% over the forecast period.
 
Q4. What factors are anticipated to drive the bluetooth LED bulb market growth?
A4. The 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.
 
Q5. Which region holds the largest market share in the bluetooth LED bulb market?
A5. Asia Pacific holds the largest market share of the bluetooth LED market owing to the falling LED prices in this region.

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