February 27, 2018ByAnthony Capkun
February 27, 2018 – According to a new “Leaderboard Report” from Navigant Research, Osram, Eaton, Philips Lighting and Acuity Brands are the top influencers in the commercial building market for IoT (internet of things) lighting.
“The leaders within this report have separated themselves from the competition through a broad solution portfolio, strong partner relationships and advanced technology development,” says Navigant’s Krystal Maxwell.
The report, “Navigant Research Leaderboard: IoT for Lighting”, evaluates 15 vendors in the IoT lighting for commercial buildings market, which were rated on things like go-to market strategy, partners, technology, portfolio, etc.
“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,” added Maxwell.
The vendor ecosystem for the IoT lighting solutions market is growing, says Navigant, as additional company types—including those who do not manufacture their own luminaires—enter the market to focus on sensors and controls or platforms.
Over the next decade, Navigant expects to see strong global growth for IoT lighting solutions thanks to technology advancements and customer demand for increased data and building insight. According to the report, the total global market for IoT lighting is expected to grow at 23.9% CAGR, from $808.2 million in 2018 to $5.5 billion in 2027.
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