Solid State Lighting Market Trends

Key Emerging Trends in the Solid State Lighting Market

Solid-state lighting (SSL) industry trends are moving very fast, changing the face of the current market climate. One emerging market trend is the increasing use of Light Emitting Diode (LED) technology. Compared with traditional lighting sources, LEDs have many benefits including energy efficiency, greater longevity and environmental friendliness. Currently, this trend is gathering steam across the board--residential down to commercial and industrial applications--as consumers look for energy-efficient, budget lighting.
A second trend in the SSL market is a growing interest in smart lighting systems. SSL combines with smart technologies to offer remote control, automation and connectivity. In recent years, the convenience and flexibility of smart lighting has increasingly attracted consumers who want to customize their own lighting environment. This trend is particularly apparent in the residential sector, where smart lighting systems help save energy and create a more pleasant living environment. In commercial and industrial applications, energy-efficient lighting management is a necessary condition for the smartification of spaces.
Governments, regulatory authorities and consumers all over the world are looking for ways to save energy in order to reduce their carbon footprints and electricity consumption. This trend is well suited to SSL, which has environmentally friendly features. Therefore, the traditional lighting technologies are gradually being replaced by SSL solutions and contributing to market growth. Emphasizing sustainability also increases innovations within the SSL industry as manufacturers design more energy-efficient and environmentally friendly lighting products.
But developments in manufacturing techniques, as well as economies of scale are continuing to reduce the cost per unit of production for LED lighting products. In this way, the trend is making SSL more affordable and accessible to a wider consumer base. Besides piggybacking on the overall market trend of making SSL solutions more budget-friendly, manufacturers are also thinking about how to optimize production efficiency and improve cost performance.
Along with cost reduction, customization and personalization are some of the trends in today's SSL market. But consumers are demanding lighting systems which offer more than simple illumination and provide novel experiences. This is especially true in the residential sector, where consumers have begun using SSL technologies to establish atmosphere and aesthetics or even promote well-being through tunable lighting. Increasingly, the ability to specify lighting suitable for their own tastes is a key consideration influencing whether or not consumers buy products as well as product development within SSL marketplace.