Future Global LED Lighting Industry Development Trend Analysis
Jun 09, 2022
In the future, with the continuous development of lighting energy saving technology, the leading role of traditional lighting market is changing from incandescent lamp to LED, and the wide application of new generation information technology such as Internet of Things, next generation Internet and cloud computing, smart city has become an inevitable trend. In addition, in terms of market demand, emerging countries in Southeast Asia and the Middle East have strong demand. It is forecasted that the global LED lighting market will show three development trends in the future: smart lighting, niche lighting and emerging country lighting.
1. Intelligent lighting
As technology, products mature and related concepts become popular, it is estimated that the global smart lighting will reach 13.4 billion US dollars in 2020. Industry and commerce are the largest application fields of intelligent lighting. Due to the characteristics of digitalization, intelligent lighting will bring more new business models and value growth points to these two fields.
2. Niche lighting
Four niche lighting markets, including plant lighting, medical lighting, fishing lighting and Marine port lighting. The demand for plant lighting in the US and China market, plant factory construction and greenhouse lighting are the main driving forces.
3. Lighting in emerging countries
The economic development of emerging countries drives the improvement of infrastructure and urbanization rate, and the construction of large commercial facilities, infrastructure and industrial areas stimulates the demand for LED lighting. In addition, the national and local governments' energy conservation and emission reduction policies such as energy subsidies, tax incentives, large-scale standard projects such as street lamp retrofitting, residential and commercial district renovation, and the improvement of lighting product standard certification are all promoting the promotion of LED lighting. Among them, Vietnam market and India market in Southeast Asia grow the fastest.
