Get To Know These LED 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.
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. Today, there are several challenges that the LED lighting industry are trying to develop in terms of creating market trends of this product.
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. Therefore, the perspective now of LED manufacturers is to go into the design perspective in order to be a standout in the industry.
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.
The immediate option to customize a product for a certain customer would be the use of innovative designs that will make the LED industry different from each other. With customization of LED fixtures, a manufacturer will have its own leeway in setting prices for their LED products.
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.
A testament to a bullish invention is in the city of Eindhoven,that in order to provide enough lighting for the commuters, they installed a smart LED system that can determine how busy a street is. 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 use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.