From 2014 through 2023, the worldwide shipments of residential lighting controls will reach approximately 1.1 billion worldwide, reports Navigant Research.
It is estimated that LEDs will catch additional momentum as many countries have begun banning the use of incandescent bulbs.
At present, the residential energy-efficient lighting market is going through a transformation.
The main reason for this make over is decreasing LED costs in addition to the budding up advanced lighting technologies.
Most of the LEDs used recently for residential purposes come with advanced technology like remote control facilities, enabling interaction between devices.
For residential consumers, connected lighting is a convenient way to manage energy as they link elements of safety, security, and functionality which can be operated with just a couple swipes of a smartphone.
“The home energy management and home automation movements are ramping up, and smart lighting plays an important role in both,” says Jesse Foote, senior research analyst, Navigant Research.
Alternatives like compact fluorescent lights (CFLs) are of course comparatively cheaper but LEDs offer better performance and are associated with minimum health concerns.