Navigant Research, the research institute, recently released the Lighting Industry IoT Impact Report, which identified Philips Lighting as the pioneer of the Internet of Things influence in the lighting industry in the commercial real estate market.
The report will be 15 lighting companies through the nine evaluation criteria for scoring, including corporate vision, market strategy, partners, professional technology, market size, sales promotion, solution implementation, solution portfolio and development prospects.
Navigant Research defines the concept of lighting the Internet of Things as "beyond the added value of lighting itself." Lighting IoT aims to provide consumers with entirely new lighting experiences and data-based insights by connecting light sources and luminaires, collecting their lighting data, and gathering information from other devices in the environment.
According to Navigant Research's forecast, the lighting internet of things market will show a tremendous increase in the future. Relying on technological innovations and increasing consumer demand for data and building insights, the global lighting Internet of Things market is expected to reach $5.5 billion in 2027, and this number is only $800 million in 2018.
Philips Lighting achieved high scores in various rating criteria initiated by Navigant Research for its end-to-end lighting IoT solution. The report mentioned that "Philips Lighting is a pioneering technology in lighting IoT solutions, confirming its strong development prospects in this area."