The most potential market analysis of LED lighting in 2016

As hardware prices fall, LED applications are booming in the lighting market. Lighting industry mostly believes that, in addition to household products, intelligent lighting and related systems and equipment, is becoming a rapid growth in the future product category. In addition, the lighting market is expected to remain stable in 2016, with China, Western Europe, asean and North America as the most promising growth markets.

2016 market outlook: stable

Overall, the global lighting market is expected to remain stable next year. Mainland China remains the most promising market for growth in the next two years, followed by Western Europe, asean, North America, Taiwan, other Asian countries and Australia/Pacific islands.

System products become hot

In terms of products, LED and related environment-friendly lighting were the most promising product category in 2016, followed by other home lighting products (20%).

This may be partly due to the increasing popularity of lighting products as LED prices have fallen. Low power consumption and long life also help expand the range of LED lighting applications. Over the next 12 months LED prices could fall by a further 20%. Indoor home lighting, intelligent lighting systems, outdoor lighting and indoor office/commercial lighting are the most promising LED applications for the next 1 to 3 years.

Intelligent lighting industry into a new favorite

Another big development in the industry is the rise of the Internet of Things, or IoT, to make cities smarter in the future. Iot technology can connect different devices inside and outside the home, including lighting fixtures, other installed appliances and mobile electronic products, through an intelligent platform, which will bring a lot of benefits to users, such as more convenient and intelligent life and energy saving.