The Business Research Company’s latest report Smart LED Bulbs Global Market Report 2020 covers Smart LED Bulbs market drivers, Smart LED Bulbs market trends, Smart LED Bulbs market segments, Smart LED Bulbs market growth rate, Smart LED Bulbs market major players, and Smart LED Bulbs market size. The report provides in-depth analysis of the impact of COVID-19 on the Smart LED Bulbs industry, along with revised market numbers due to the effects of the coronavirus.
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Smart LED Bulbs Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global smart LED bulbs market is expected to decline from $8.82 billion in 2019 and to $7.5 billion in 2020 at a compound annual growth rate (CAGR) of -15%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted negatively. The market is then expected to recover and reach $14.09 billion in 2023 at CAGR of 23.4%.
The report covers the Smart LED Bulbs market’s segments-
1) By Technology: Wired Technology, Wireless Technology.
2) By Application: Indoor Lighting, Outdoor Lighting.
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