Get To Know These LED Market Trends
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. In our modern times today, LED lighting is facing a different challenge and that is to be able to create market trends in the lighting business.
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. 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. Some manufacturers have recognized these challenges and some of them were bullish with their developments leading to the creation of a smart lighting start up called TVilight with a LED system.
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. Through this system, the busy streets are illuminated and are switched off when the streets are 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. Applications in the LED system for the home automation system will create a breakthrough in the domestic market.
The use of UVs as an application in the non-visible light spectrum has led manufacturers in the competition world.
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