The global LED general lighting market has undergone extreme dramatic changes in 2011 to 2015. LED Lighting technologies witnessed unique advancements during these 5 years, offering to an extended range of applications: from indicator lights to lighting fixtures; from lighting fixtures to outdoor landscape lighting; and from display backlighting to general lighting. LEDs have been powerful and have seized the market shares of incandescent lamps, fluorescent lamps, and HID lamps.
However, after the third quarter in 2015, LED lighting, which had grown at a CAGR of over 100% every year, appear to slow its pace, according to the study done by LEDINSIDE. Having said that, LED penetration rates in Japan, China, the U.S. and some emerging countries have continued to increase year over year, and the game-changing LEDs have quietly taken the place of traditional lighting.
Though the LED lighting market did not show the same exponential growth like previous years in 2015-2016, it, however, increased at a 10% to 20% rate. Estimating from annual lighting shipments, LEDs still occupy over 50%. However, the share of LED lights in global lighting market has been increasing at 20% for quite a while. 2011 to 2015 marked the period when LED lights were widely adopted. But in the present post LED lighting era, it is still unclear what changes will occur and where the industry is heading towards.
In conclusion, in the e who hapost LED lighting era, companies who have production cost advantage will provide manufacturing services to brand and channels. And for thosve strong brand equity and extensive distribution channels, they will focus on R&D, innovation, marketing, and channel operation. These companies will lead the way in lighting development on the global stage, and continue to provide premium energy-efficient lighting to end-users around the world.
Categorized in: LED Lighting