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Tag: LED lighting

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SWOT Analysis of the LED Smart Lights Industry: Illuminating the Key Opportunities and Challenges

The rising demand from residential and commercial segments opens up new growth opportunities for LED smart lighting companies in the years to come. As a result, the market competition in the LED smart lighting category has been skyrocketing at an unprecedented rate with several companies competing to produce and sell innovative LED smart lighting solutions for household, administrative, and business uses.

As exciting as this new segment in the lighting industry looks, it is not completely free of glaring issues that must be tackled. Experts at Infiniti Research conducted a comprehensive SWOT analysis to help companies identify opportunities and address issues and key challenges in the sector.

LED smart lighting

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Strengths of LED smart lights: Smart innovation

A decade back, who would have thought that technology will enable controlling light bulbs with the help of a smartphone! Using LED smart lighting technology, bulbs can connect to a smart device using wireless technology. Motion sensors can also be set up on these lights to switch them on or off based on a person’s proximity to the sensor. Such innovations give the user complete control of their lighting system and this is one of the major benefits of LED smart lights. Another major benefit of LED smart lighting technology is the reduced electricity consumption.

Due to the increased sustainability, smart LED lights manufacturers can expect greater government incentives to support their operations. Although this is a breakthrough innovation, the setup of these smart bulbs is as simple as it can get. Once the bulb gets inserted into the light source, all it takes is to download an appropriate app and set up the wireless connectivity, making it simple and easy to use.

Weaknesses of LED smart lights: Barriers to market entry

Since this technology is relatively new, not a lot of people are aware of these bulbs. Furthermore, some of the top companies producing LED smart lights also deal with conventional bulbs, making this a tough market to battle against.  As such, smart lighting companies must focus more on the tech-savvy population, especially millennials who have an affinity towards such innovations.

Moreover, as the pricing of these bulbs are on the higher side, there are greater chances of reluctance from customers to buy this product. Another important drawback of an LED smart bulb is that not all of these bulbs follow the same setup process. While most models use wireless technology to connect, some of them may require additional hubs or switches to function as expected. Such complicated installation processes make it even more difficult to make such technology mainstream.

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Opportunities for LED smart lights: Market expansion and growth

The rising government incentives for energy-saving products is an opportunity for LED smart lighting companies to expand their business operations by making more products available to the market.

Factors such as rapid urbanization and the rising need for mobility could also largely fuel the growth of this industry. Furthermore, companies in the sector can also plan to move beyond catering to domestic needs and expand at an industrial or organizational scale. As a greater number of companies are trying to incorporate sustainable practices and the benefits of longer-lasting bulbs is a key incentive to attract corporate clients.

Threats facing LED smart lights: Traditional products remain market dominants

The lighting industry is characterized by cut-throat competition, with market players offering similar products and aiming to be leaders in the smart lighting segment. However, traditional bulbs continue to dominate the market with only a small population of buyers for smart bulbs currently. Moreover, the traditional lighting options are much cheaper than the smart lighting solutions, making it a more favored segment among buyers. Another major barrier is the complications involved in the set-up and usage of smart bulbs. Due to the relatively complex procedures involved, buyers may choose to go with the traditional options available.

Want to know more about the market trends and strategies to gain a better foothold in the LED smart lighting industry?

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Emergence of Cost Effective and Green Lighting Technologies to Drive Value Growth of Lighting Sector

The recent market intelligence assessment by Infiniti Research on the lighting sector identifies and obtains information on the important stakeholders and decision makers responsible for solutions across the US and Canada.

Smart lighting technologies

The increasing awareness for cost reduction, energy efficiency, and environmental sustainability is propelling the growth of new forms LEDs, such as OLED and AMOLED. The leading manufacturers are integrating effective software, hardware, and the Internet to lighting solutions to promote smart lighting technologies in the market. The advent of connected lighting devices enables consumers to control and manage to light from their smartphones and smartwatches. The rising concern towards a sustainable environment is paving its way for smart, wireless lighting controls in the industry. Moreover, the introduction of horticulture lighting that helps with the reduction of carbon footprint, investigation of grain sterility, and support in germination is revolutionizing the market. The competitive intelligence assessment by Infiniti identifies possible stakeholders and decision makers responsible for lighting solutions with the help of account-based marketing strategies.

The launch of self-learning control systems reduces manual intervention and results in higher energy savings. These are smart lighting solutions that adapt to the surrounding environment and can detect a change in the condition of the light and other light sources. Some of these devices control the thermostats from a remote location via connected devices. Technological innovations are helping manufacturers launch energy-efficient solutions that offer easy and comfort to the end-users.

Emergence of camera-based lighting control

The implementation of the camera in lighting devices acts as sensors to control the lighting and shade applications. These devices are used for effective lighting control functions, fire detection and security, automatic lighting controls, and promoting energy savings. Moreover, these can be integrated with smartphones, enabling a cost-effective method of remotely controlling lighting devices.

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Wireless lighting

Wireless lighting technologies are energy-saving, cost-efficient, and low maintenance devices that are gaining immense popularity in the market. These devices find applications in industrial, architectural, and backlighting applications. Additionally, these functional designs are incorporated into the home security systems and outdoor lighting systems. These devices are controlled through automated systems that can adjust the color, intensity, and brightness.

Solutions and recommendations

The recent competitive intelligence assessment by Infiniti Research helps develop an estimation of lighting solutions’ demand and gathers details for the key decision makers in the industry. Some of the solutions offered include:

  • Identify and obtain information of the key stakeholders and decision makers
  • Gather contact details of the important decision makers to develop effective account based marketing strategies
  • Evaluate and improve a large database of companies across the US and Canada
  • Analyze various industry research reports to gain insights into the market landscape and leading players in the market
  • Offer insights on the current needs and purchase decision-making process of the competitors

Read our comprehensive case study on how we helped a leading client with a competitive intelligence assessment for the lighting sector

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