Get To Know These LED Market Trends
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. 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.
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.
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. With customization of LED fixtures, a manufacturer will have its own leeway in setting prices for their LED products.
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. Through this system, the busy streets are illuminated and are switched off when the streets are empty. The success of this TVilight system has led to a possible integration of the smart LED system all over countries in Europe.
The LED industry has also accepted the challenge of integrating its system in the internet world. Also, in the home automation system, applications can be integrated with the LED systems for a breakthrough in the domestic consumer space.
The competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.
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