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Signify SWOT & PESTLE Analysis

ID : 521011653| Aug 2021| 18 pages

COMPANY PROFILE -Signify

Business Sector :Industrial Electronics- Lighting

Operating Geography :Netherlands, Europe, Global

About Signify :

Signify N.V. is a lighting company headquartered in Netherlands formed as a result of a demerge announced by Philips in 2016. The company changed its name to Signify N.V. in 2018, but it continues to manufacture and sell products under the Philips brand. Signify manufactures products like high-intensity discharge lamps (HID), light-emitting diodes (LED), various kinds of lamps for different purposes like, linear fluorescent lamps (LFL), compact fluorescent lamps (CFL) etc. The lighting solution provider strives to build innovative technology which permits constant development of new products. It operates through four segments namely the Lamps segment, the Professional segment, the LED segment and lastly the Home segment. Signify was the first company to develop a 60W light bulb that required power less than 10W. Apart from this the company also provides broadband services (Li-Fi) through their light source in areas where wireless connectivity is absent or weak. It manufactures electronic components for Internet of Things (IoT), such as electronic ballasts and drivers. Signify also provides comprehensive and personalized lighting systems. The company provides services such as light management and other value-added services like remote monitoring, design, audit and engineering of lights, etc. Signify has a total of approximately 36,000 employees and a strong presence worldwide. Its products are sold in over 180 countries as of 2021. Signify was awarded eight Red Dot Product Design Awards in 2020. The User Experience Lead at Philips Hue was declared a winner of Future Tech Awards held at Las Vegas in 2020. The company also won 10 prestigious iF Design Awards for its varied products in 2020.
Signify is the undisputed global leader in lighting for professionals and consumers and lighting for the Internet of Things. Philips product line, Interact connected lighting systems and data-enabled services, from Signify's stable, transforms life in homes, buildings and public spaces.

Signify Revenue :


Euro 6,502 million - FY ending 31st December 2020 (y-o-y growth 4.08%)
Euro 6,247 million - FY ending 31st December 2019

Competitive Analysis of Signify

SWOT
PESTLE
The SWOT analysis for Signify is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Sustainable products form a large portion of its revenue
2. Global leader in smart street lighting
3. Strong financial performance with cost reductions
1. Currency fluctuations affect sales and EBITDA of the company
2. Exposed to tax uncertainty with permanent establishment
OpportunitiesThreats
1. Hospitality industry is opting for LED and IoT green upgrades, thereby increasing LED demands
2. Leading player in the UV-C technology market, catering to the surged demand following the pandemic
3. Indoor vertical farming market in Europe is expected to grow by 2027
1. Semiconductor and other electronic component shortages impact supply chain
2. Highly competitive and low-priced Asian LED lighting companies pose market disruption risk
3. Increasing number of innovations and lower commercialization success creates R&D risk
4. Smart lighting solutions are vulnerable to cyber-attacks
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Signify

Strength

This section is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

1. Hospitality industry is opting for LED and IoT green upgrades, thereby increasing LED demands: The Paris agreement requires the hospitality industry to curb its carbon and GHG (Green House Gas) emissions by 66% as early as 2030, and subsequently achieve carbon neutrality by 2050. The hospitality industry is upgrading its infrastructure to reduce energy usage and emissions as much as possible. The hospitality industry aims to be more energy-efficient, hence adding more IoT (Internet of Things) based solutions in its hotels and lounges to reduce the usage of electric appliances in case of no occupancy. Advanced lighting solutions help turn lights on in case of occupancy. The IoT solutions also help in providing comfort by adjusting the thermostats to ambient temperature automatically. This helps to save energy. Signify provides an interactive hospitality solution that helps save 28% of energy and its green mode helps achieve an additional 10% saving. Signify is expected to see a rise in demand for this product as hotels continue to upgrade their infrastructure.

2. Leading player in the UV-C technology market, catering to the surged demand following the pandemic: Since the pandemic, the UV-C light LED market has witnessed a rise in demand, this is mainly due to the reason that this light source can reduce or inactivate 99% of SARS-CoV-2 virus in six seconds in a given room. This has found its applications in disinfecting small and medium-sized stores as well as meeting rooms and public vehicles. The UV-C based lamps are also installed in offices to sterilize cabins. Many manufacturers such as LG and Innotek have been selling similar products to the Republic of Korea before the pandemic. The market for UV-C based lighting products was estimated at $144 million in 2019 and is now expected to reach $2.5 billion by 2025. The sudden increase in demand has been attributed to the pandemic. Signify has partnered with Boston University to develop UV-C light-based LED products, the production of which has been ramped up in anticipation of the new opportunities.

The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.

Threat

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Major Competitors :

Major Brands :

  • Philips
  • Interact
  • Philips Hue
  • Color Kinetics
  • Wiz
  • Strand
  • TruLiFi by Signify
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TABLE OF CONTENTS
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References used in Signify SWOT & PESTLE Analysis Report

1. Signify Q2 2020 Results - https://www.signify.com/static/quarterlyresults/2020/q2_2020/signify-second-quarter-results-2020-presentation.pdf
2. Annual Report 2020 -https://www.signify.com/static/2020/signify-annual-report-2020.pdf
3. Signify is the world leader in lighting - https://www.assets.signify.com/is/content/Signify/Assets/signify/global/ir/20210331-brighter-lives-better-world-2025.pdf
4. The Plastic Economy: How the Packaging Industry is Tackling Plastic Pollution - https://www.jpmorgan.com/insights/research/plastic-economy
5. Achieving carbon neutrality: One company’s lessons learned - https://www.weforum.org/agenda/2020/12/signify-achieving-carbon-neutrality-lessons-learned/
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Signify SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2021). Signify SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/signify/ [Accessed 25 Sep, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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Signify SWOT and PESTLE Analysis has been conducted by Rakesh Shewale and reviewed by senior analysts from Barakaat Consulting.

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