Market Size of Bluetooth LED Bulb Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.44 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bluetooth LED Bulb Market Analysis
The Bluetooth led bulb market is expected to register a CAGR of 9.44% over the forecast period of (2021 - 2026). Bluetooth LED bulb is a novel technology that makes the use of intelligent lighting control systems to manage light, based on various parameters, like movement, color, temperature, occupancy, and amount of natural light. Due to it's increasing cost competitiveness, this technology has begun to compete in a variety of lighting applications successfully. Also, these bulbs can now be operated through specially designed remote controls or smartphone app features. Moreover, the growing significance of smart homes is further expected to drive the demand for these Bluetooth connected bulbs. In August 2018, the Chicago Department of Transportation announced the implementation of Streetlight Modernizing Program with the aim to replace 270,000 conventional street lights with LED bulbs in the next four years. Such developments of the government and Industrial bodies to reduce energy cost has been impact the LED light demand and is expected to positively impact the market.
- Rising awareness regarding technologies such as wireless optical networking data transmission, light fidelity, and the Internet of Things (IoT) is expected to positively impact the market. Over the past few years, the growing demand for energy-efficient lighting systems has been promoting the adoption of advanced products including Bluetooth LED bulbs.
- Increasing adoption of smart lighting solutions for hospitality, home, and the office is majorly driving the demand for Bluetooth LED bulbs. With the rising number of smartphone and tablet users, demand for smart LED bulbs controlled by Bluetooth connectivity is also driving.
- Other factors that are propelling the growth of the global Bluetooth LED bulb market include declining prices of LED bulbs and supportive government initiatives.
- Governments are adopting smart lighting projects to save energy and money. As per a report by the US Energy Information Administration, around 39% of total energy cost is incurred through lighting. It has been observed that smart LED lighting has the ability to reduce energy costs in office buildings and industrial installations by 90%.
- One of the major factors restraining the growth of the Bluetooth LED bulb market is increasing competition from IoT and wi-fi enabled LED bulbs.
