Vietnam LED lighting market has become an emerging market

As the 14th largest country in the world in population and emerging market, its GDP has been increasing year by year. In recent years, the GDP growth rate has surpassed 6% almost. It is just at the stage of economic take-off. As a result, foreign capital influx and Vietnam's vigorous development is just around the corner. The LED lighting opportunities in Vietnam, in addition to the economy is taking off stage, but also due to the rise in electricity consumption, making Vietnam LED business opportunities not to be underestimated. 

LED inside estimates LED lighting market in 2017 reached 420 million US dollars, an annual growth of 20.6%. In addition, the smart lighting market in Vietnam started relatively late, with only a few applications in outdoor and high-end commercial lighting venues. The market for smart lighting in 2017 is about 18 million U.S. dollars. By 2020, the market size of smart lighting in Vietnam will exceed 60 million U.S. dollars.

Vietnam's lighting import chain structure can be divided into five categories: by foreign manufacturers for the local lighting plant to provide components, imported components + local assembly, imported lighting products + local assembly, foreign OEM direct ODM shipped to countries and abroad Vendor-owned brands sell through engineering or wholesale channels. Overall, due to the lack of local manufacturing capacity, the Vietnamese market is still the highest share of international companies such as Philips and Osram, followed by local manufacturers Rang Dong and Dien Quang.

Well-known local related exhibitions in Vietnam, including LEDTEC ASIA and Vietnam professional audio-visual exhibition. In view of the scale, LED related manufacturers can participate in LEDTEC ASIA, if you want to specialize in stage lights, stage equipment, or display device manufacturers, to participate in professional audio and video exhibition in Vietnam.

In view of Ho Chi Minh City as a commercial center in Vietnam, LED inside collates several LED lighting distributors, systems integrators, utilities and housekeeping companies located mainly in Ho Chi Minh City for illumination manufacturers' reference to facilitate the layout of the Vietnam market. In addition, the report also sorted out the local retail outlets in Vietnam.