Analysis of development trends of China's home lighting market in 2023

From 2016 to 2019, my country's household lighting industry ushered in initial rapid development. In 2020-2021, the growth rate slowed down slightly due to the impact of the epidemic. In 2022, the scale of my country's household lighting industry will be 36.28 billion yuan, a year-on-year increase of 0.58%; it is expected that household lighting in 2023 the performance of the industry will rebound significantly, and the market size will reach 41.3 billion yuan; among which, the market performance of household smart lighting products has been promising in recent years, and major manufacturers have begun to deploy.

2016-2023 China's household lighting industry scale forecast and growth rate

From 2016 to 2022, my country's household smart lighting has been showing a momentum of rapid growth. The market share has increased from only 2.0% in 2016 to 20.4% in 2022, and the share has increased by 20% in 7 years; it is expected that the scale of the household smart lighting market in 2023 will exceeded 10 billion, and smart products accounted for 24.2%.

The development of my country's lighting industry will pay more attention to several trends such as intelligence, the increase in the importance of lighting resources, the application of LED lighting products, the rapid development of goggles and touch lighting, and the rise of cloud lighting technology. In the next few years, the lighting industry will maintain steady growth. Intelligence will become the core of the future development of the lighting industry. Energy-intensive lighting will gradually emerge, and the lighting industry will become smarter and more energy-saving.