NanoMarkets Report: Next-Generation Smart Lighting Systems Revenues Will Reach $1.0 Billion by 2020
Industry: Market Research
NanoMarkets sees 2015 as a breakout year for smart lighting with the next-generation of smart lighting systems emerging
Glen Allen, Virginia (PRUnderground) February 18th, 2015
In a new report, “Smart Lighting Market Opportunities: Smart Bulbs and the Rise of Local Lighting Intelligence,” NanoMarkets concludes that the market for these new systems (bulbs and hubs combined) will reach just over $1 billion by 2020. This report is based on NanoMarkets ongoing program of industry analysis covering the advanced lighting business.
NanoMarkets sees 2015 as a breakout year for smart lighting with the next-generation of smart lighting systems emerging. There is a new emphasis on local intelligence; smart bulbs in particular and a shift from energy efficiency to mood lighting. Smart bulbs can be controlled over the Internet using a smartphone, are now widely available
For more details of the report see: http://nanomarkets.net/market_reports/report/smart-lighting-market-opportunities-smart-bulbs-and-the-rise-of-local-light
About the report:
In addition to analyzing the products and markets for the new smart lighting, this report also includes a granular eight-year forecast for smart lighting with breakouts by type of lighting (residential, industrial and commercial, public buildings and outdoor) and market geography. These forecasts are presented in both volume and value terms, with hubs and smart bulbs forecast separately. The report also profiles the strategies of 20 companies.
Companies discussed in this report include: Acuity Brands, Belkin, Cree, Daintree, Echelon, Elgato, Fujikom, GE, Greenwave Systems, Honeywell, Insteon, LG, LIFX, Lutron, Osram, Panasonic, Philips, Samsung, Sensity Systems, Tabu, Toshiba, and TCP.
From the report:
Marketing channels for smart bulbs have expanded to include large retailers such as Staples, Home Depot and Amazon, making them easier to purchase. Shipments of these products are currently low but expected to exceed 40 million units by 2020.
Energy-efficiency remains part of the marketing story for smart lighting, but it is harder to sell smart lighting on that basis. Energy efficiencies of smart lighting systems do not vary much and falling energy prices mean energy efficiency is less of a selling feature. The latest generation of smart lighting emphasizes color; some systems allow users to store pre-set color scenes, for example. It remains to be seen whether consumers will place value on such gimmicky features. But they are a place to start. In the future, NanoMarkets expects to see the incorporation of more effective daylight harvesting into smart lighting systems as well as color-tuning features designed specifically to improve health, mood and job performance.
The market for next-generation smart lighting hubs will exceed $120 million by 2020. These hubs are evolving from dedicated controllers into gateways to automation platforms such as Nest and Wink. They are also adding programmable features that go well beyond what was possible with legacy lighting controllers. These include: the ability to program and save lighting configurations, theatrical lighting effects like gradual fades or color palettes.
Meanwhile, control of smart lighting using smartphones is rapidly becoming the way that smart lighting systems are controlled. Smartphones also provide residential and small business with information that formerly only the mangers of large businesses could obtain from their lighting management systems – energy usage for each light fixture and which smart features are being used in which room.
NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. Visit www.nanomarkets.net for a full listing of NanoMarkets’ reports and other services.