The Internet of Things: Turning $3 Lightbulbs Into A $60 Billion Opportunity

Shelly Dutton

Over the past year, we’ve seen IoT-enabled innovations enter our homes, cars, phones, and air space – and even appear on our bodies. Will they make our lives safer, simpler, healthier, and more environmentally responsible? Only time will tell. But on rare occasions, an innovation comes along that can transform our world right before our eyes.

This is the case for Koninklijke Philips N.V., one of the world’s largest manufacturers of lighting. During his SAPPHIRE NOW session, “Find Out How Philips Used IoT Strategies to Unlock the $60B Connected Lighting Market,” Vasanth Philomen, public segment leader at Philips Lighting, observed, “This was just an idea three-and-a-half years ago. When you take a look at your innovation from the perspective of the customer, you can achieve a lot in a short amount of time.”

What was this idea? It was a reimagined commodity that we all rely on, opening the door to a $60 billion market opportunity. Philips is refurbishing streetlights, parks, bus stops, buildings, and bridges around the world with LED lightbulbs. But these are not just standard $3 lightbulbs – they’re connected and controlled through a remote management system.

Cities can now keep their residents safer by monitoring storm drains during heavy rains. They can even adjust lighting levels to strike a balance between public safety and costs related to energy consumption and maintenance. More important, they’re making the world safer, brighter, and a little more beautiful.

Watch this replay of the SAPPHIRE NOW session “Find Out How Philips Used IoT Strategies to Unlock the $60B Connected Lighting Market” to learn how the company is setting the stage for the connected lightbulb market while helping cities and towns benefit from digital transformation.

SAPPHIRE NOW + ASUG 2016 is over, but you can still watch on-demand replays of keynotes, strategic sessions, press conferences, and more from the event on-demand.