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.
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 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. Through this customization of LED fixtures, a LED company will be able to set its own pricing for their own product designs.
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. A couple of LED manufacturers have recognized these challenges that led them to develop smart lighting start up with LED systems termed as TVilight.
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. The domestic market will also be penetrated with the LED system’s integration with the home automation system.
The competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.