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Smart Home Devices, Automation, Controls

Q2 2023

Smart Product Market Assessment

Smart Lighting Market Assessment 2023

This Smart Product Market Assessment identifies key and emerging players in the residential smart lighting market.  It tracks consumer adoption and purchase trends over 5 years, including  use cases, control preferences, and top purchase channels. It includes unit sales and revenue forecasts for smart lights, smart plugs, and smart switches.

Key Questions Answered:

What are the major trends currently impacting the smart light market?
What product innovations are driving the market?
How can product manufacturers differentiate and charge a premium price in a quickly commoditizing market?
How is high inflation and a tough housing market impacting consumer demand for smart lighting?
What is consumer interest in energy, security, and wellness features in smart products? 
 

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Download Table of Contents (PDF)

Key Product Categories and Definitions

Smart Home Lighting Ecosystem

Executive Summary

Smart Light and Power Ownership, Purchases, Intentions

Top Features for Smart Lighting Device Purchase

Attitudes Towards Home Energy Consumption

% Rating Energy Monitoring in Smart Plugs “Very Important”

US Forecast - Smart Lighting Revenue: Annual Sales Revenue at End-user Value ($M)

Lighting Industry Trends

Competitor Landscape Shifts and Acquisitions

Interoperability & Networking

Product Design & Innovative Features

Sensing and Intelligence

Pricing & Installation

US Market Sizing & Forecast

Market Drivers

Market Barriers

US Forecast - Smart Light Bulbs: Annual Unit Sales (#M)

US Forecast - Smart Light Bulbs: Annual Sales Revenue at End-user Value ($M)

US Forecast - Light In-Wall Switches/Dimmers: Annual Unit Sales (#M)

US Forecast - Light In-Wall Switches/Dimmers: Annual Sales Revenue at End-user Value ($M)

US Forecast - Smart Plugs: Annual Unit Sales (#M)

US Forecast - Smart Plugs: Annual Sales Revenue at End-user Value ($M)

Market Activity and Competitors: Smart Light Bulbs

Smart Bulb Market Trends and Features

Smart Lighting – Market Activity

Market Activity and Competitors: Smart In-Wall Switches

Smart In-Wall Switches Market Trends and Features

Smart In-Wall Switches – Market Activity

Market Activity and Competitors: Smart Plugs/Power Strips

Smart Plugs/Power Strips – Market Trends and Features

Smart Plug/Power Strips – Market Activity

Smart Lighting Market Context: Familiarity, Affordability, and Ownership

Smart Light Bulbs: High Rating for Familiarity, Perceived Value, and Affordability

Smart Light Bulbs: High Familiarity by Technology Adoption Segment

Smart Energy, Power Device Ownership

Average Number of Smart Lighting/ Power Devices Owned Among Owners

Smart Home Devices: Net Promoter Score

Smart Lighting Use: Controls, Energy Monitoring

Primary Smart Lighting Control Methods

Devices Plugged into Smart Plug

Attitudes Towards Home Energy Consumption

Energy-Saving Actions Taken Over the Past 12 Months

Device Purchases, Acquisition, Installation

Smart Energy, Power Device Purchases

Average Numbers of Smart Lighting/ Power Devices Purchased

Smart Lighting/Power Devices: Average Purchase Price

Smart Lighting/Power Devices: Category of Purchase

Smart Lighting/Power Devices: Number of Devices Purchased as First Time Ever

Smart Lighting/Power Devices: Purchases, Gifts, and Pre-installed

Smart Lighting/Power Devices: Channel Purchase Location

Smart Lighting/Power Devices: Installation Methods

Smart Lighting/Power Devices: Disposal When Moved

Smart Lighting/Power Devices: Purchase Considerations

Devices Acquired as Part of Security System

Devices Acquired as Part of System, by Installation Method

Devices Added After Security System Installation by Installation Method

Smart Lighting Brand Performance

Brands Owned: Smart Light Bulb

Brand Purchased: Smart Light Bulb

Brand Considered: Smart Light Bulb

Brands Owned: Smart Plug/Power Strip

Brand Purchased: Smart Plug/Power Strip

Brand Considered: Smart Plug/Power Strip

Brands Owned: Smart In-wall Outlet/Switch or Dimmer

Brands Owned: Smart Lighting Control System

Purchase Intention & New Features

Purchase Intention: Smart Lighting/Power Devices

Important Features for Smart Lighting Device Purchase

Interest in Smart Light Bulb Replenishment Service

Preferred Type of Smart Light Bulb Service

Important Features for Smart Plug Purchase

High Interest in Energy Monitoring Feature, Among Select Groups

Device Returns and Technical Support

Smart Light/Power Product Returns

Smart Home Device: Technical Problems Experienced

Reasons for Returning Smart Home Devices

Actions after Returning Smart Home Devices

Smart Lighting Owner Demographics

Tech Adopter Segments

Age Distribution

Household Income Distribution

Gender Distribution

Children at Home

Home Ownership

Residential Region

Appendix

Published by Parks Associates
© 2023 Parks Associates | Addison, Texas 75001

All rights reserved. No part of this document may be reproduced, in any form or by any means, without permission in writing from the publisher. Printed in the United States of America.
Disclaimer: Parks Associates has made every reasonable effort to ensure that all information in this document is correct. We assume no responsibility for any inadvertent errors.

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