Some Information about LED Lighting Market Trends
Several years ago, most of the LED lighting companies and the whole LED lighting market was concentrating on public education about the advantages of LEDs and how they are better than other lighting options.
After several years passed and we can see major milestones that are accomplished by the LED industry, with recognition of its importance by the general public, and thus reaching around 30 billion dollars of market all over the world. 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.
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. Through this customization of LED fixtures, a LED company will be able to set its own pricing for their own product designs.
The success and profitability of the LED lighting companies would depend on their great efforts to be successful in their innovations, and the companies are well aware of this challenge. A couple of LED manufacturers have recognized these challenges that led them to develop smart lighting start up with LED systems termed as TVilight.
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. With this system, they can illuminate pathways that are busy and when the pathways are empty, it will switch off. With the success that this system called TVilight has proven, this smart LED system is being considered for integration in the whole countries in Europe.
Even in the age of internet technology, the LED industry has accepted the challenge of integrating LED systems. Applications in the LED system for the home automation system will create a breakthrough in the domestic market.
The use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.