Connected Lighting Platform Market Analysis

Component (Hardware, Software, Services)

The hardware segment is attributed to hold 48% share of the global connected lighting platform market during the forecast period. The growing popularity of connected lighting devices and fixtures that can change color, dim light, or turn them on using a control device such as a mobile phone or tablet is reflected in the hardware demand segment.  A total of 6.8 billion mobile phone users are now in the world. Given the world's population is in excess of 8 billion, this would mean a 75 % penetration rate for smartphones.

Connectivity (Wired, Wireless)

The wireless segment in the connected lighting platform market is expected to hold 55% of the revenue share by 2036. Consumers who need a connection range of less than 5 km are highly preferred to network in an intelligent lighting environment, and that segment is expected to grow significantly over the forecast period. Wireless technology such as Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee connects lighting fixtures with smartphone apps to control the light bulb's functions. The residential sector has majorly adopted wireless technology to control the luminaire hues and colors for aesthetic purposes within a confined space. The number of wireless broadband subscriptions around the world is set to reach 6.044 billion by 2020.

Our in-depth analysis of the global market includes the following segments: