Some Information about LED Lighting Market Trends
It was the goal of most LED lighting companies and the overall LED lighting market to educate the lighting consumers of the benefits and the advantages of LEDs as compared to other lighting choices in the market.
Today, after many years of major milestones, the LED industry has made known its importance that lead to a LED global market of approximately 30 billion dollars market. In our modern times today, LED lighting is facing a different challenge and that is to be able to create market trends in the lighting business.
There are now several generic fixtures and lights in the LED lighting market such as bulbs, panels and tubes, that have become saturated with more manufacturers joining the LED bandwagon, and this leads to a price war in the industry. So, in order for a LED manufacturer to standout in the LED industry, it is now considering a shift into the design perspective of the LED products.
The year 2017 would bring in signs that LED manufacturers would be developing customized products for specific industries that will bring them more profits, and these are in the areas of interior decor, hotels, bars, parking lots, outdoor areas and others.
One customization option that we can expect to be develop this year is the use of innovative designs, thus allowing different manufacturers in the LED industry to distinguish one from the other. A LED company therefore will be able to set its own pricing once the LED fixtures are customized and branded as its design.
In order to achieve profitability, manufacturers of LED products know that they have to conduct successful innovations. There is a couple of LED manufacturers who took the challenge by the horns leading them to develop the TVilight, which is smart lighting start up using LED systems.
An example of a creative innovation is in the city of Eindhoven where a smart LED system is installed with the ability to determine how busy streets are and thus provide adequate lighting for the riding public. Busy pathways can be illuminated through this system and can be switched off too once the pathways are detected to be empty. The success of this TVilight system has led to a possible integration of the smart LED system all over countries in Europe.
The LED industry has also accepted the challenge of integrating its system in the internet world. The domestic market will also be penetrated with the LED system’s integration with the home automation system.
The competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.
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