Report Says Lighting is Smarter than Ever

A recently released report that surveyed the Smart Lighting industry indicates that the last 18 months has been huge for the space, and opened opportunities for expansion in several areas of the vertical. The report was compiled by ReportsnReports.com, an online market research reports library of more than 500,000 in-depth studies of more than 5000 micro markets.

The report predicts how investments in the smart money arena will be spent in the next few years, and examines vendors’ market strategies. Many of the changes are coming about because of the “cool” factor, according the report. Smart lighting systems have historically been sold as the newest versions of traditional lighting systems. In the last year and a half, smart lighting has become a cool electronic product, and the report sets itself the goal of determining whether this shift is creating new smart lighting markets.

In addition to analyzing the products and smart lighting markets, the report also includes an eight-year forecast for the industry with breakouts by type of lighting and market geography. Some of the brands included in the report are: Belkin, Bridgelux, Daintree Networks, Echelon, Elgato, Fujikom, GE, Google, GreenWave Reality, Honeywell, Insteon, LIFX, Philips, Sensity Systems, Sensus, Silver Spring Networks and Spark Devices.

ReportsnReports’ research has forecast a more than 36 percent annual growth rate for the lighting market until 2018, and that concerns about energy-efficiency is a key contributor to the growth. One challenge outlined is the high cost of replacement of existing lighting. Other factors in the growing demand, as identified by ReportsnReports, include the rapid rate of urbanization, increase in mobility and energy costs. Key vendors will be: Koninklijke Philips Electronics N.V., OSRAM GmbH, Samsung Electronics Co. Ltd., and Zumtobel Lighting GmbH.

Looks like the IoT is finally starting to see the light.