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September 03, 2021, New York, USA - A smart bulb is an internet-enabled bulb that allows the passage of customized lighting and to is scheduled and controlled with internal applications. The main purpose of a smart bulb is that you can dim them, brighten them according to your uses. They are connected wirelessly with your phone app and that itself is a very unique feature. It is a mechanism wherein they are connected to the sensors and controllers through a wireless methodology and within the system, it helps communicate and transmit the data.
You can dim a smart bulb without having to install dimmer switches in your home. They can be controlled from anywhere, which makes its application mobile. This is also a great security option for your house as it will never look empty secluded. Most of the smart bulbs offer a hub through which you can control all the settings of the bulb from one app only. So there is no need to install multiple levels of apps.
They have the function of changing colors. A smart bulb has the option of changing colors and adjusting them according to your use. It is possible to feel the warmth of light through a yellow color. You can also add a blue color. You can also change the color during any kind of festival if you want.
With the installation of a smart bulb, you can also listen to soothing music whenever you want as it also has the function of playing music. Another striking feature of the smart bulb is that it helps you sleep better. Some of the smart bulbs emit a temperature that can give a cooling and soothing effect and can provide a much-relaxed atmosphere.
Another feature of the Smart Bulb market is the eco-friendly technology which you can apply and the same can be adopted by the various customers. So in the global smart bulb market, florescent or halogen lightning technologies could rise in great demand.
The Global Smart Bulb market forecast-
The Global Smart Bulb market forecast is expected to project a value of $US 37.41 billion by the year 2026. It is also expected to rise at a CAGR of 20.26% over the forecast period of 2020-2026.
It needs to be observed that during the forecast period Asia-Pacific has registered the highest growth and will continue to be the highest growing factor globally. There are various reasons for it primarily, the growth and development of infrastructure, the establishment of the smart lighting network, and increasing level of investments by the government in the public and private sector.
The Indian Housing society is one of the fastest-growing sectors in India. The demand for the smart city and smart lighting system is one of the main reasons for the development of smart bulbs in India. There have been new and innovative initiatives being introduced under the smart city mission and India plans to convert alongside 3800 of the street lights into the smart city network.
The recent research also suggests that China will account for the highest growth in the IoT applications, 4.1 billion precisely and this is to be the highest number recorded globally.
It is going to reach almost one-third of the Global connections by the year 2025.
North America is however expected to dominate the growing market as they are focused on acquiring only the government contracts which are related to street lightning, monument, and architecture building. In the United States the smart bulb market takes up about 36.3% of the 8575 units and it is one of the largest sales regions. Europe is also one of the leading markets and is expected to expand eventually during the forecast period.
The end use of the Smart City market-
A smart LED system is essential for various commercial and industrial purposes and the booming Wi-Fi market is one of the mainstays of the Global smart bulb market. For Home use purposes the market makes up about 70% of the market.
The major manufacturers in the Global smart bulb market are-
General Electric Company
The market is also expected to have a paradigm shift in the increase in the market from the developed to the developing countries due to the few strict environmental regulations and the increase in the use of light street technology.
The forecast is so much on the positive side that the growth of the Smart Bulb market is expected to grow faster than the economy and is going to be on the higher side in the forecast period.
It is also used for various outdoor purposes namely for the highways and roadways lightning and highways, Along with architectural lighting for public places. The market for outdoor lighting is expected to grow at the highest CAGR during the forecast period and the emerging market for this domain is going to be the Asia Pacific market.
The overall growth factor for the Global Smart Bulb market is on the positive side and will witness many innovative methodologies by the companies and by government regulations.
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