What Do You Know about the Trends in the LED Lighting Market
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.
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.
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. Therefore, the perspective now of LED manufacturers is to go into the design perspective in order to be a standout in the industry.
And so, in order to bring in more profits, in our era today, we will see LED manufacturers to be providing customized products in niche industries like in interior decor, hotels, parking lots, and others.
The use of innovative designs is one customization option that is believed to be more prominent this year, and this will make manufacturers in the LED industry be different from one company to 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.
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. 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. With this system, they can illuminate pathways that are busy and when the pathways are empty, it will switch off. This is the TVilight system that proved successful and is further studied to be integrated in countries all over Europe.
The LED industry has also accepted the challenge of integrating its system in the internet world. 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.