Some Information about LED Lighting 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.
The LED industry was able to accomplish major accomplishments for the past years, successfully being recognized as a leader in the lighting industry and getting around 30 billion dollars of global market for the LED products. Nowadays, there is another challenge that the LED lighting industry is trying to accomplished and this would be to create trends in the market.
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. 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.
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. 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.
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. With this system, they can illuminate pathways that are busy and when the pathways are empty, it will switch off. 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. 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.