Navigant Research ranks Philips Lighting as Leading Influencer for IoT in Lighting
- Philips Lighting ranked as the top scoring Leader in its new report
- Navigant Research forecasts IoT lighting market to grow to USD 5.5 billion by 2027
Navigant Research, a market research firm, has issued a report entitled, Leaderboard: IoT in Lighting, in which it ranks Philips Lighting (Euronext: LIGHT) as the leading Influencer for Internet of Things (IoT) lighting for the commercial building market.
The report assesses 15 lighting suppliers based on nine criteria: vision, go-to-market strategy, partners, technology, geographic reach, sales & marketing, solution performance, solution portfolio, and staying power.
Navigant Research defines the concept of IoT in lighting as adding value beyond illumination. Lighting in IoT is focused on connected lights and luminaires that gather information on their performance and the environment devices around them. Providing customers with new lighting experiences and data-based insights.
Navigant Research forecasts this market to grow strongly, to USD 5.5 billion globally by 2027, from just over USD 800 million in 2018, driven by advancements in technology and customer demand for increased data and building insight.
Philips Lighting was rated highly across all criteria for its end-to-end IoT lighting. According to the report: “Philips Lighting is on the forefront of new technology developments for IoT lighting solutions, which provides the company a strong staying power within this market.”
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Philips Lighting
Philips Lighting (Euronext: LIGHT), the world leader in lighting products, systems and services, delivers innovations that unlock business value, providing rich user experiences that help improve lives. Serving professional and consumer markets, we lead the industry in leveraging the Internet of Things to transform homes, buildings and urban spaces. With 2017 sales of EUR 7.0 billion, we have approximately 32,000 employees in over 70 countries. News from Philips Lighting is located at the Newsroom, Twitter and LinkedIn. Information for investors can be found on the Investor Relations page.
