Get To Know These LED 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.
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. And so, for a manufacturer to be ahead in the LED community, it has to consider a shift in the design aspect 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. 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. Through this system, the busy streets are illuminated and are switched off when the streets are empty. 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. 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.