Get To Know These LED 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. Today, there are several challenges that the LED lighting industry are trying to develop in terms of creating market trends of this product.
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. Therefore, the perspective now of LED manufacturers is to go into the design perspective in order to be a standout in the industry.
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.
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. With customization of LED fixtures, a manufacturer will have its own leeway in setting prices for their LED products.
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.
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. Busy pathways can be illuminated through this system and can be switched off too once the pathways are detected to be empty. This is the TVilight system that proved successful and is further studied to be integrated in countries all over 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 use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.