Get To Know These LED 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.
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. And so, for a manufacturer to be ahead in the LED community, it has to consider a shift in the design aspect 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. With customization of LED fixtures, a manufacturer will have its own leeway in setting prices for their LED products.
Manufacturers are well aware that many things have still to be done to make successful innovations that would spell success and profitability of the LED lighting business. 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.
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. With this system, they can illuminate pathways that are busy and when the pathways are empty, it will switch off. With the success that this system called TVilight has proven, this smart LED system is being considered for integration in the whole 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 competition has led several manufacturers to focus on the LED applications in the non-visible light spectrum like the use of UVs.
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