Some Information about LED Lighting Market Trends
It is the education of the public, about the benefits of LEDs and how this new technology has surpassed other lighting options in comparison, that was the aim of most LED lighting companies and the whole LED lighting market in general.
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. Nowadays, there is another challenge that the LED lighting industry is trying to accomplished and this would be to create trends in the market.
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. 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. 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. Some manufacturers have recognized these challenges and some of them were bullish with their developments leading to the creation of a smart lighting start up called TVilight with a LED system.
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. Through this system, the busy streets are illuminated and are switched off when the streets are empty. This is the TVilight system that proved successful and is further studied to be integrated in countries all over Europe.
Integrating the LED systems in the internet world is also being accepted as a challenge and manufacturers are starting to study this possibility. Also, in the home automation system, applications can be integrated with the LED systems for a breakthrough in the domestic consumer space.
The use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.