According to the report, the global LED lighting market is more optimistic than previous estimates, it is estimated with an opportunity to grow 5.1% in 2021 and reach US$44.3 billion in 2025. The 2021 LED lighting market key words: smart lighting, human centric lighting, niche lighting.

COVID-19 is spreading rapidly around the world, which has controlled the demand and consumption of LED lighting in the short term. In the medium and long term, there are still many uncertainties for various industries in the impact of the epidemic. However governments have implemented different levels of fiscal stimulus and monetary easing policies to recover the economy. As the downstream LED lighting demands is highly related to macroeconomic development, and lighting will be benefited.  

1, Smart city construction has driven Smart Lighting market active

In 2020 smart lighting cost down and the increasing demand of consuming market has driven the market prosperous. There are 3 application fields: Smart Commercial Lighting, Smart Residential Lighting, Smart Public Lighting.

Smart commercial lighting combines human health requirements and smart lighting to improve light quality and energy-saving control.

Smart residential lighting is developing with the the smart home and has a fast growth rate 27% in 2020.

Smart public lighting is related to the government policy and economy stimulated solutions. The smart city construction, with the development of IoT and 5G technology, smart LED street light market will officially enter the fast replacement and development stage.

2, Human centric lighting is mainly reflected in the applications of high color rendering lighting and healthy lighting

LED technology development to achieve high color saturation and color rendering (CRI/R9) without sacrificing luminous efficiency. Health lighting products have reduced the blue light hazard which can perform well for schools lighting, then the health lighting market can be developed well.

3, LED grow light in the niche lighting market has become one of the fastest growing lighting sectors.

At present LED grow light market is mainly for animal and plant lighting applications, which can be simply divided into the following applications: plant factories, solar greenhouses, indoor edible fungus cultivation, household plant cultivation, flowering control, algae cultivation, and aquatic and poultry breeding. Most manufacturers continue to introduce new and higher-spec LED products, such as Osram, Samsung, Cree, Lumileds, Seoul Semiconductor, etc. This move will accelerate the replacement of traditional lighting products with LEDs.

Future LED lighting market will be from such products: products with higher energy saving, higher energy efficiency, lower cost, lighter weight, smaller size, easier installation, and more convenient intelligent control, health products. With the development of IoT technology, smart control will become the main driving force of the future market.

Xindeco full range of Indoor and Outdoor LED Smart Lighting products especially intelligent LED street light will help customers benefit more from the market. Contact Xindeco to see our line of Smart Lighting.