Page 60 - Lighting Magazine March 2019

SMARTER HOMES BIGGER SALES
EYE ON
IT
Not every showroom will be the ideal t for o ering smart home products, but as the fastest-growing category in lighting it deserves careful consideration. BY DAVID SHILLER
Noon Home o ers this consumer-friendly smart home system that is designed to be easily retro ed.
The projections for global home au- tomation sales in 2022 range from approximately $40 to $80 billion, depending on the study cited. Most remarkable is the growth of the smart
home device market, with a compound annual growth rate (CAGR) of 31 percent between now and 2022. There were 37 million units of smart lighting products shipped globally in 2018 — and that is projected to reach 105 million units by 2022, representing 8.3-percent market share for residential lighting.
GearinG Up for the ChallenGe
One showroom accepting the challenges and opportunities of the Internet of Things (IoT) is Hermitage Lighting in Nashville. Rachel Fleischer has taken the initiative and led the charge, pointing
56 enLIGHTenment Magazine | March 2019
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