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. 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.
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 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. A LED company therefore will be able to set its own pricing once the LED fixtures are customized and branded as its design.
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. A couple of LED manufacturers have recognized these challenges that led them to develop smart lighting start up with LED systems termed as TVilight.
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.
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 use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.