DUBLIN--(BUSINESS WIRE)--The "Bluetooth LED Bulb Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
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.
Major industry players profiled as part of the report are Signify Holding, FLUX Lighting, LG, and General Electric Company among others.
Bluetooth LED bulb market has been analyzed through following segments:
- By Compatible Device Type
- By Application
- Signify Holding
- FLUX Lighting
- General Electric Company
- Jimi Software
- EGLO Leuchten GmbH
For more information about this report visit https://www.researchandmarkets.com/research/vk8znl/341_million?w=4