Analysis of the future development trend of global LED lighting industry

In 2018, the global economy was in turmoil, the multi-country economy was declining, market demand was weak, and the growth momentum of the LED lighting market was weak. However, in the context of continued positive energy conservation and emission reduction policies, the global LED lighting industry penetration rate is still further enhanced.

In the future, with the continuous development of lighting energy-saving technology, the protagonist of the traditional lighting market is being converted from incandescent lamps to LEDs, and the widespread application of next-generation information technologies such as the Internet of Things, next-generation Internet, and cloud computing. Smart cities have become an inevitable trend. In addition, from the perspective of market demand, emerging countries in Southeast Asia and the Middle East have strong demand. Forward-looking predictions, the global LED lighting market will present three major development trends in the future: smart lighting, niche lighting, and emerging national lighting.

Smart lighting

With the maturity of technology, products and related concepts, it is estimated that global smart lighting will reach 13.4 billion US dollars in 2020. Industrial and commercial are the largest application areas for smart lighting. Because of the digital characteristics, smart lighting will bring more new business models and value growth points to these two fields.

Niche lighting

The four niche lighting markets include plant lighting, medical lighting, fishery lighting and marine port lighting. Among them, the US and Chinese markets have rapidly increased the demand for plant lighting, and plant construction and greenhouse lighting demand are the main kinetic energy.

Emerging national lighting

The economic development of emerging countries has driven infrastructure and urbanization rates, and the construction of large-scale commercial facilities and infrastructure and industrial zones has stimulated demand for LED lighting. In addition, national and local governments' energy conservation and emission reduction policies such as energy subsidies, tax incentives, etc., large-scale project such as street lighting, residential and commercial district renovation, and the improvement of lighting product standard certification are promoting LED lighting promotion. Among them, the Vietnam market and the Indian market in Southeast Asia are the fastest growing.