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.
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.
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.
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. 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. 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.
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. Busy pathways can be illuminated through this system and can be switched off too once the pathways are detected to be 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. Applications in the LED system for the home automation system will create a breakthrough in the domestic market.
The competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.