What Do You Know about the Trends in the LED Lighting Market
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.
The LED industry was able to accomplish major accomplishments for the past years, successfully being recognized as a leader in the lighting industry and getting around 30 billion dollars of global market for the LED products. Today, there are several challenges that the LED lighting industry are trying to develop in terms of creating market trends of this product.
More manufacturers today are joining the bandwagon in the LED industry, and for the generic fixtures and lights like bulbs, panels and tubes, the market has become saturated that prices have gone down and price wars are taking place. And so, for a manufacturer to be ahead in the LED community, it has to consider a shift in the design aspect of the LED products.
Today, we would be expecting LED manufacturers to offer customized products for some specific industries, like hotels, bars, parking lots, interior decor, outdoors and so on, in order to obtain more profits.
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.
Manufacturers are well aware that many things have still to be done to make successful innovations that would spell success and profitability of the LED lighting business. A couple of LED manufacturers have recognized these challenges that led them to develop smart lighting start up with LED systems termed as TVilight.
Another example of a bullish creation is in a Dutch city which was able to install a smart LED system that can determine how busy a street is and thus can produce enough lighting for the commuters. With this system, they can illuminate pathways that are busy and when the pathways are empty, it will switch off. The success of this TVilight system has led to a possible integration of the smart LED system all over countries in Europe.
Even in the age of internet technology, the LED industry has accepted the challenge of integrating LED systems. 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.