Philips Hue smart light bulbs are lighting up more smart homes than ever, although the brand that helped create the smart light bulb market is facing an ever-larger roster of lower-priced competitors according to Strategy Analytics.
Across the four countries included in the research group’s survey, Philips Hue was the most frequently mentioned brand, cited by more than 50% of consumers overall, a percentage nearly twice that of the next brand, IKEA. Philips Hue as of 2020 is the heavyweight in the smart light bulb market, with a brand strength rivaled only by Ring in video doorbells and Nest in smart thermostats.
However, dozens of companies are mimicking Philips Hue’s features, and selling them at a fraction of Philips Hue’s prices. Dozens of these smaller brands and their lower-priced bulbs will help stoke demand for smart light bulbs, making them the fastest growing smart home device segment over the next five years according to Strategy Analytics smart home survey revealed smart light bulbs are the third-most popular smart home device overall among the US, UK, France, and Germany, just a few percentage points behind the most and second-most popular devices, smart thermostats and surveillance cameras, respectively.
Inexpensive and easy-to-install smart light bulbs are a perfect starter smart home device for consumers as well as brands seeking to gain traction in the smart home market. Popularity of smart light bulbs was highest in the US, as expected, followed by the UK, then Germany, then France.