Compared with traditional incandescent lamps and energy-saving lamps, LED lighting products to have the advantages of high efficiency, energy-saving, easy recycling, non-toxicity, and long service life.
With the intensification of the global energy crisis, the increasing awareness of environmental protection among residents, and the technological advancement and cost reduction of LED lighting products, LED economic lighting is gradually becoming one of the hot industries in global economic development.
According to the data, in the past five years, the global LED lighting market has grown from about 22.9 billion US dollars in 2012 to about 55.1 billion US dollars in 2017, with a compound annual growth rate of about 19.2%, while home and outdoor lighting are the main growth factors.
Dimmable LED lighting not only helps to improve the indoor atmosphere, but also helps to save energy to a large extent. The dimmable LED lighting market continues to grow rapidly due to increasing environmental awareness and the need to control energy consumption, and is expected to increase in the coming years.
At the same time, the use of IoT communication connection technology to connect lighting equipment and related sensing equipment, and the emergence of such intelligent lighting, will broaden the scope of LED lighting applications, and promote the development of the LED lighting market.
In the future, with the continuous advancement of packaging technology, technologies such as all-in-one SMD (surface mount device), formal COB (onboard chip package), and flip-chip COB will mature and be applied, and with the continuous upgrade of LED technology, Promote the performance of mainstream LED lighting products in the market.
Driven by such rapid growth in the market segment, it is expected that the scale of China’s LED lighting market will further increase in 2019, and is expected to exceed 700 billion yuan.