What Do You Know about the Trends in the LED Lighting Market
It was the goal of most LED lighting companies and the overall LED lighting market to educate the lighting consumers of the benefits and the advantages of LEDs as compared to other lighting choices in the market.
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. Today, there are several challenges that the LED lighting industry are trying to develop in terms of creating market trends of this product.
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. Therefore, the perspective now of LED manufacturers is to go into the design perspective in order to be a standout in the industry.
And so, in order to bring in more profits, in our era today, we will see LED manufacturers to be providing customized products in niche industries like in interior decor, hotels, parking lots, 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. 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. A couple of LED manufacturers have recognized these challenges that led them to develop smart lighting start up with LED systems termed as TVilight.
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. 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.
Further in the competing world, the LED community has led manufacturers to concentrate on LED applicatons where the non-visible light spectrum is involved.