Two new articles now at the Cortet by CEL website explain how a lighting manufacturer can successfully leverage emerging Smart Lighting Control trends and IoT technologies to expand their product lines and services, to ensure profitability in rapidly growing and evolving industrial and enterprise environments.
The IoT based, Smart Lighting Control market is poised to grow by over 35% to $3.7bn in revenue by 2020. Lighting luminaire and lamp OEMs have unique competitive advantages: unmatched knowledge of the ‘things’ that are being controlled and deep, long-standing industry relationships.
So why is this the right time to make a play in IoT lighting control?
- Features and capabilities of lighting control systems have become much more sophisticated, and the technology behind them has become far more accessible.
- The many new entrants and new approaches in the lighting control space have vastly increased the number of partners available. The ecosystem is there.
- If you made an unsuccessful attempt to enter the market in the past, most of the roadblocks and pitfalls you may have faced are going away.
Cortet solutions for IoT networking and control allows OEMs and manufacturers to focus on what they know and do best – luminaires and lamps – while providing the opportunity to easily expand sales, increase margins and create new revenue streams by adding IoT control.
“OEMs with successful non-IoT products now have an easier and more profitable way to enter new markets with IoT-enabled products with much less risk,” said Erik Davidson, Cortet by CEL. “In addition to expanding product lines and profit margins, Smart Lighting Control delivers the ability to build and grow subscription-based, recurring revenue streams over time.”