The scale of China's LED lighting output value will reach 445 billion RMB in 2020

With the divestiture of the general lighting business by international giants, the scale of China's output value will continue to increase, and the global market share is expected to reach 61% in 2020. The Gaogong Industry Research Institute LED Institute (GGII) predicts that by 2020 China's LED lighting output value will reach 445 billion RMB, an increase of 14.1% year-on-year.

It is worth noting that LED general lighting has been relatively mature, and the market growth has encountered bottlenecks. In order to maintain the sustainable development of enterprises, many lighting companies have entered other fields (such as the electrical industry) to seek diversified development; many companies have set their sights on high-margin market segments such as automotive lighting, smart lighting, and plant lighting. .

GGII believes that the market for LED lighting and LED intelligent lighting in the growth period is good, and the future market space is huge. Relatively speaking, the threshold of automotive lighting technology is higher, coupled with the relatively closed automotive industry chain, lighting companies want to cut in is not easy. Therefore, smart lighting is more "tempting" for many lighting companies.

At this year's Hong Kong Spring Lighting Fair, Smart Lighting is a bit different in the "plain". Internet of Things solution providers such as Tuya Smart, Gizwits, and Jingxun Software have entered across the border to share the market dividends released by smart lighting. This also confirms the broad market space of smart lighting from the side.

GGII statistics show that the size of China's smart lighting market in 2018 reached 38.7 billion RMB, a year-on-year increase of 46.6%. GGII predicts that the size of China's smart lighting market will reach 83 billion RMB in 2020 and will have good growth in the future.