Philips Lighting (Signify) is a leading global player in LED and connected lighting, and this profile provides an analysis of its connecting lighting strategy. It includes its go-to-market strategy, strengths and weaknesses, and technology and ecosystem development.
- Philips Lighting's digital transformation of its business and change in strategy to a more service-based model is now reaping measurable benefits. Philips Lighting has developed an innovative lighting-as-a-service (LaaS) business model for B2B customers. Customers pay per lux – thereby, on a usage basis – rather than simply paying for devices and a standard managed service. This changes the business model from a high capex outlay along with opex, to a pure opex solution.
- The business case for connected lighting is often driven by cost savings from a move to LED. The timing of this shift is usually a trigger for a connected lighting deployment, but this has yet to happen for many potential customers, creating significant opportunities for Philips Lighting. It is a more difficult sale once a city or enterprise has already moved to LED. It is a more difficult sale once a city or enterprise has already moved to LED. However, at present, Philips estimate that fewer than 18% of the world's 350 million street lights are LED, with fewer than 2% connected, so there remains huge growth opportunities for Philips Lighting.
Features and Benefits
- Provides recommendations for Philips Lighting and and other players in the ecosystem.
- Includes detailed assessment of Philips Lighting's connected lighting strategy and approach to key vertical markets, as well as partners.
Key questions answered
- What is Philips Lighting's positioning in the IoT market and how does its strategy differ from those of peer competitors?
- What are the key elements of its technology strategy for IoT?
- Which major IoT verticals is Philips Lighting targeting and why?
Table of contents
Download 1: IoT Vendor Strategy Case Study: Philips Lighting (Signify) B2B Strategy