Some Information about LED Lighting 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.
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. 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. With customization of LED fixtures, a manufacturer will have its own leeway in setting prices for their LED products.
The success and profitability of the LED lighting companies would depend on their great efforts to be successful in their innovations, and the companies are well aware of this challenge. 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. The success of this TVilight system has led to a possible integration of the smart LED system all over countries in Europe.
Even in the age of internet technology, the LED industry has accepted the challenge of integrating LED systems. Also, in the home automation system, applications can be integrated with the LED systems for a breakthrough in the domestic consumer space.
Further in the competing world, the LED community has led manufacturers to concentrate on LED applicatons where the non-visible light spectrum is involved.