What are the future lighting market prospects?

With the fall in hardware prices, LED applications are popular in the lighting market. Most lighting companies believe that, in addition to home products, smart lighting and related system equipment, is becoming a faster growth of product categories in the future. In addition, the industry expects the lighting market to remain stable in 2016, while mainland China, Western Europe, ASEAN, and North America are the markets with the greatest growth potential.

During the Hong Kong International Autumn Lighting Fair held in October 2015, the Hong Kong Trade Development Council conducted a questionnaire survey on trade and economic research, interviewed 383 buyers and 262 exhibitors and asked them about the future of the lighting market and industry trends in the coming years. view.

At the exhibition, about 86% of the interviewed buyers and 90% of the interviewed exhibitors expect that sales in 2016 will remain unchanged or increase. These percentages are roughly the same as the proportion of respondents who shared the same view of the market outlook at the lighting fair in April 2015. However, it is worth noting that compared to the previous survey, the proportion of respondents expecting a constant 2016 sales (compared with 2015) will increase while the proportion of expected sales growth will decrease. In other words, 54% of surveyed buyers and 39% of exhibited exhibitors expect sales to remain unchanged in 2016. Overall, it is expected that the global lighting market will remain stable next year.

Regarding the growth prospects of individual markets, all markets were rated higher than Neutral (3 points), indicating that respondents generally hold positive views on overseas lighting product markets. As in previous surveys, China’s mainland is still the market with the best growth prospects in the next two years, followed by Western Europe, ASEAN, North America, Taiwan, other Asian countries, and the Australia/Pacific Islands.

System products become hot spots

On the product side, among all respondents, 26% considered LED and related environmental lighting to be the most promising product category in 2016, followed by other home lighting products (20%). However, the larger smart lighting and lighting solutions, commercial lighting and outdoor lighting associated with the lighting system products also received higher ratings, accounting for 15%, 14% and 13% of all respondents respectively.

In the above situation, it is estimated that part of the reason is that as the price of LED falls, the lighting products are becoming more popular; and the low power consumption and long service life characteristics also help to expand the application of LED lighting. In fact, about 97% of the interviewed buyers and interviewed exhibitors expect that the LED lamp price will further decline by 20% in the next 12 months. Many respondents believe that indoor home lighting, smart lighting systems, outdoor lighting and indoor office/commercial lighting are LED applications with the greatest growth potential in the next 1 to 3 years, accounting for 28% and 27% of the respondents respectively. 15% and 13%.

Intelligent lighting becomes the new favorite in the industry

Another major development in the industry is that with the rise of the Internet of Things (IoT), cities will become more intelligent in the future. IoT technology can connect different devices inside and outside the home through an intelligent platform, including lighting fixtures, other installed electrical appliances, and mobile electronic products. Benefits to users are many, such as more convenient, more intelligent and energy-saving. . During the exhibition, a seminar on the revolutionary impact of the Internet of Things on the lighting industry, speakers believe that this trend will become a major factor in stimulating market demand in the future, but also bring many challenges for the industry.

In fact, these views are consistent with the findings of the survey conducted during the exhibition. It is noteworthy that most respondents (82% of all respondents) believe that smart cities and smart home technologies and related applications will help the lighting industry in the next two years. Of the above-mentioned respondents, 43% expected that home lighting systems that can communicate with smart phones/tablets or be manipulated have the greatest potential for development in the industry. This is followed by home/industrial/commercial intelligent lighting systems, which mainly aim at power saving and energy saving. Of the above respondents, 40% have this view.

Respondent data

A total of 383 respondents were interviewed, of which 27% came from Hong Kong and the rest came from overseas. The main sales/export markets were Mainland China (21%), Asia (excluding Mainland China) (17%), Western Europe (17%), Hong Kong (16%) and North America (15%).

A total of 262 exhibitors were interviewed, 27% from Hong Kong and the rest from the field. The main sales/export markets are Western Europe (27%), Asia (excluding Mainland China) (22%), North America (18%) and Mainland China (8%).