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. Nowadays, there is another challenge that the LED lighting industry is trying to accomplished and this would be to create trends in the market.
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. So, in order for a LED manufacturer to standout in the LED industry, it is now considering a shift into the design perspective 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.
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.
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. 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.
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. 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.
Integrating the LED systems in the internet world is also being accepted as a challenge and manufacturers are starting to study this possibility. Applications in the LED system for the home automation system will create a breakthrough in the domestic market.
The competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.