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.
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. 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.
The generic fixtures and lights like bulbs, panels and tubes of the LED lighting market have become saturated since more and more manufacturers are joining the LED revolution creating 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.
In order to achieve profitability, manufacturers of LED products know that they have to conduct successful innovations. 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. The success of this TVilight system has led to a possible integration of the smart LED system all over countries in Europe.
Even in the age of internet technology, the LED industry has accepted the challenge of integrating LED systems. Applications in the LED system for the home automation system will create a breakthrough in the domestic market.
The use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.