IoT lighting revenue grows to $4.5 billion by 2026 17 NOVEMBER 2017

According to new research, the IoT lighting market is expected to deliver revenue of $4.5 billion by 2026, up from $651.1 million in 2017.

Opportunities for energy and operational cost savings, occupant health and well-being, and insights from data analytics are driving this market forward. Commenting on the global IoT lighting market, Krystal Maxwell, research analyst at Navigant Research, said: “Data generation has increased due to the continual growth of connected devices.

“The level of granular data produced from an IoT lighting system can be utilised by other building systems and provide greater insight into the building as a whole, making lighting an ideal entrance for IoT in commercial buildings.”

Networked lighting controls and easy-to-use sensors, enables the accelerated evolution of intelligent lighting control systems to IoT lighting systems. While lighting controls were originally designed for dimming or day lighting, they have evolved to also assist with space utilisation, conference room management, increased employee productivity, and improved operational efficiency through the removal of labor required by facility managers or other building personnel.

The report, IoT for Lighting, examines the global market for IoT lighting solutions – hardware, software, and services – within commercial buildings.

Use cases are explored, along with case studies highlighting IoT lighting solutions in select building types.

Not just about IoT lighting

In other IoT news, Kevin Bloch, Cisco CTO, has revealed that 75% of all IoT projects are failing due to segmentation and a lack of experience by companies developing them.

“The inaugural phase of IoT is characterised by numerous point solutions from a multitude of new — often startup — vendors. Typically, these solutions have been designed to solve a particular societal problem such as lighting or parking. In each case, a complete IT stack needs to be built in support of the solution,” Bloch explained.

“Eventually, customers find themselves with multiple siloes from multiple vendors that don’t interoperate, are not cybersecure, use different protocols, and generate more complexity at greater cost.”

Bloch advises that companies should utilise a platform that is able to cope with multiple different sensors, vendors, applications, and data interchanges.

Bloch also cautioned that “cybersecurity crime is already at an all-time high and negatively impacting global economies by upwards of 1% of GDP,” he said.

“We are becoming more mobile, we are using more cloud services, and we are expanding IoT deployment to tens of billions of connected things, thereby expanding exploitation and attack opportunities. Our situation will inevitably get worse if we don’t take the right precautions.

His advice: “If you don’t secure it, don’t connect it.”