Parks Associates: Sales of Smart Light Bulbs in Western Europe to Reach 8.8 Million Units by 2020

DALLAS, TX--(Marketwired - Sep 5, 2016) - Parks Associates today announced new IoT research forecasting annual sales of smart light bulbs in Western Europe will reach 8.8 million units by 2020, a CAGR of 20%. The international research firm shows North American annual sales increasing from nine million units in 2016 to 19.1 million units by 2020. Parks Associates will address the smart lighting landscape at CONNECTIONS™ Europe: Smart Home, IoT, and the Connected Consumer, 2-3 November 2016 at the NH Grand Hotel Krasnapolsky in Amsterdam.

"Adoption of smart lighting devices and systems is growing due to the convenience of self-installable devices that can be standalone products, part of self-installed home control systems, or self-installed add-ons to professionally installed interactive security systems," said Brad Russell, Research Analyst, Parks Associates. "These devices offer enhanced ambience, entertainment, energy, security, safety, and even health benefits."

Smart Lighting Landscape for the Connected Home addresses key industry players, market drivers, and industry trends in lighting devices and systems, while also providing five-year forecasts for selected smart lighting devices. Additional data from the report shows:

• North American annual sales of smart plug/adapter modules are forecast to increase from 2.9 million units in 2016 to 5.3 million units by 2020.
• Annual sales of smart plug/adapter modules in Western Europe during the same period will increase from 1.3 million to 2.4 million with a CAGR of 14%. 

"The market is likely to see more smart light bulbs integrated in or included with new fixtures, which will further challenge retail sales and replacements," Russell said. "The revenue opportunities are stronger for smart switches, dimmers, outlets, and plugs that can leverage a variety of sensor data, and enable the creation of value-added applications."

Parks Associates will present new smart home research at CONNECTIONS™ Europe, which will address challenges for the IoT and smart home with over 150 industry executives in an intimate networking environment. Topics for the event include:

• Video, digital media, home networking, home control, and access and support services
• Growth strategies for smart home and Internet of Things markets
• Trends, data, and predictions for areas of significant growth
• Strategies for service providers to compete on services and innovation
• Case studies for digital home customer support
• The role of service and applications providers and equipment vendors in saving support costs
• A global look at consumers habits and expectations

CONNECTIONS™ Europe features keynotes from Allianz and Panasonic, Amazon, Nest, and SmartThings, and the conference has early sponsorship support from ASSA ABLOY, Ayla Networks, EVRYTHNG, Icontrol Networks, ROC-Connect, Z-Wave, and ZigBee.

For more information on CONNECTIONS™ Europe, visit http://www.connectionseurope.com or contact sales@parksassociates.com, 972-490-1113. To schedule a meeting with an analyst or to request specific research data, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About CONNECTIONS™ Europe
Produced by Parks Associates, the 11^th-annual CONNECTIONS™ Europe is a two-day executive conference focused on the impact of IoT on the consumer. The event explores innovative business strategies, new crossover industry partnerships, and advancements in IoT (Internet of Things) solutions that are creating more consumer engagement and business opportunities for smart home, cloud services, and connected entertainment solutions. Parks Associates industry analysts moderate all sessions, with discussion, insights, and networking with leading executives representing all IoT ecosystems. CONNECTIONS™ Europe will take place 2-3 November 2016 in Amsterdam at the NH Grand Hotel Krasnapolsky. http://www.connectionseurope.com