- Market research firm ranks Philips Lighting as the top scoring Leader in its new report Navigant Research Leaderboard: IoT in Lighting
- Navigant Research forecasts IoT lighting to grow to $5.5 billion by 2027
Eindhoven, the Netherlands - Philips Lighting (Euronext: LIGHT), the world leader in lighting, announced that it has been ranked as the leading Influencer in a new Leaderboard report on Internet of Things (IoT) lighting for the commercial building market from industry market research firm Navigant Research.
The report entitled, Navigant Research Leaderboard: IoT in Lighting assessed 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 $5.5 billion globally by 2027, from just over $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 a recognized name within the lighting industry and is on the forefront of new technology developments for IoT lighting solutions, which provides the company a strong staying power within this market.”
An executive summary of the report is available for free download from the Navigant Research website.