Philips Lighting, Acuity Brands, Eaton, and OSRAM are among the leading players in the Internet of Things (IoT) for lighting market, according to a new report from Navigant Research.
The report, which can be found here, assesses 16 vendors in total, including larger vendors, such as Cisco, Intel, Schneider Electric, and Siemens. These players are all placed as challengers, as opposed to contenders or leaders.
Navigant Research argues that the total global market for IoT lighting is set to hit $5.5 billion by 2027, up from $808.2 million this year.
The research firm defines IoT for lighting as ‘adding value beyond illumination.’ “Connectivity and communication can happen between devices within the lighting system and between lighting devices and non-lighting devices,” it adds. “Within lighting systems, such communication can be accomplished through lighting controls. Networked lighting controls achieve many of the aspects described in this definition of IoT lighting solutions.”
The report assesses a variety of questions, including the drivers pushing ahead the IoT for lighting market, global revenue forecasts, and the strengths and weaknesses of each company.
“The leaders within this report have separated themselves from the competition through a broad solution portfolio, strong partner relationships, and advanced technology development,” said Krystal Maxwell, Navigant research analyst. “Contenders and challengers in this market will need to improve in various ways, from expanding their solution offerings, to increasing sales, to differentiating themselves through unique features and applications.”
In terms of how smart lighting equates to the IoT, a blog post from OSRAMexplains the link. “Currently, we are at the infancy stage of what the IoT will enable – today we are seeing just a sliver’s worth of applications from a very big pie of potential applications,” the blog notes. Smart lighting is playing a pivotal role, unlocking the power of the IoT and smart building applications.
“Lighting is ubiquitous throughout all buildings and every luminaire is connected to a source of power,” it adds. “It is the perfect conduit for collecting data on what is happening in the building at any given time.”