LED lighting market begins to get on track

 Recently, the LED lighting market has gradually shifted to cost-effective competition, which is also conducive to consumer recognition of LED lighting products.

According to the Industrial Economics and Trend Research Center (IEK) of the Industrial Technology Research Institute (IEK), the popularity of the LED lighting market has fallen as module prices and modular development, and the market has expanded to become a leader in the LED application industry.

ITRI estimates that the global LED lighting market will be approximately US$79 billion by 2020, and the compound growth rate will reach 45% from 2011 to 2016. The growth momentum will slow from 2016 to 2020, mainly due to the light source life of LED light sources (including modules). Since 2015, the market has become more saturated, and the overall scale has shrunk. However, the LED lighting market is moving toward digital or intelligent development, and the scale has gradually grown. It is estimated that the market will reach USD 5.8 billion by 2020.

With the improvement of efficiency, LED components have begun to be applied to different product markets. Although LED products have started to lower prices, many businesses still have trouble finding water, cutting prices while cutting corners, and reducing product quality to ensure high profits. The problems caused by the price war will also affect the development of the entire LED lighting market.

Once the price competition of LED lighting products is free from the vicious stage of sacrificing product quality to reduce costs, it will enter into a real cost-effective competition, which will also lead the competition and development of the LED lighting market to the right track, and truly bring high quality and efficiency to users. illumination.