Global Bluetooth LED Bulbs Market to Reach $544.1 Million by 2027
Amid the COVID-19 crisis, the global market for Bluetooth LED Bulbs estimated at US$193.6 Million in the year 2020, is projected to reach a revised size of US$544.1 Million by 2027, growing at a CAGR of 15.9% over the analysis period 2020-2027. Residential, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$238.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 16.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $57.3 Million, While China is Forecast to Grow at 15.4% CAGR
The Bluetooth LED Bulbs market in the U.S. is estimated at US$57.3 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$94.7 Million by the year 2027 trailing a CAGR of 15.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14% and 13.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR.
Industrial Segment to Record 17.2% CAGR
In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 17% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$35.9 Million in the year 2020 will reach a projected size of US$107.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$65.7 Million by the year 2027.
Select Competitors (Total 43 Featured):
Amid the COVID-19 crisis, the global market for Bluetooth LED Bulbs estimated at US$193.6 Million in the year 2020, is projected to reach a revised size of US$544.1 Million by 2027, growing at a CAGR of 15.9% over the analysis period 2020-2027. Residential, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$238.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 16.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $57.3 Million, While China is Forecast to Grow at 15.4% CAGR
The Bluetooth LED Bulbs market in the U.S. is estimated at US$57.3 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$94.7 Million by the year 2027 trailing a CAGR of 15.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14% and 13.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR.
Industrial Segment to Record 17.2% CAGR
In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 17% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$35.9 Million in the year 2020 will reach a projected size of US$107.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$65.7 Million by the year 2027.
Select Competitors (Total 43 Featured):
- Acuity Brands Lighting Inc.
- Delta Light
- Eaton Corporation PLC
- Evluma
- General Electric Company
- ilumi Solutions Inc.
- LEDVANCE GmbH
- Luceco PLC
- Opple Lighting Co. Ltd.
- OSRAM GmbH
Frequently Asked Questions about the Global Market for Bluetooth LED Bulbs
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| Report Attribute | Details |
|---|---|
| No. of Pages | 111 |
| Published | April 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 193.6 Million |
| Forecasted Market Value ( USD | $ 544.1 Million |
| Compound Annual Growth Rate | 15.9% |
| Regions Covered | Global |
Table of Contents
I. METHODOLOGY
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
IV. COMPETITION
