LED lighting market tends to be segmented and specialized

According to research, market growth is attributable to the demand for smart cities and the implementation of energy-saving lighting systems. Smart lights can be connected via Wi-Fi, Bluetooth, etc., and dimmed as needed. In addition to lighting, these extensive functions plus the increasing popularity of IoT devices and smart assistants create a market growth path for smart lighting.

The rapid replacement of traditional lamps with LED smart lamps is a general trend. Market leaders are focusing on manufacturing smart lighting products at reasonable prices. Technological innovation has helped to quickly reduce product prices and increase the penetration rate of smart lighting in the global market. This will enable mass adoption.

At present, the market demand for LED lighting in my country is trending towards segmentation and specialization, and the market segment is also developing towards sub-segmentation. In this context, products and services must also be transformed and upgraded in line with market demand.

In terms of supply, the overall output value of my country's LED lighting industry has exceeded 700 billion RMB, and the output value of all links has basically remained stable. From a demand perspective, the apparent consumption of my country's LED lighting industry has been increasing year by year, and the production-sales rate has also been steadily maintained at around 46%, and the demand has not yet shown signs of weakening.