Jan 20, 2017: With the increasing demand for LED lighting products, many small and medium companies are penetrating the market, giving rise to a fierce competition faced by all players—the giants as well as the small and medium companies. Lighting experts have repeatedly pointed out that unless the companies become more adaptable to new technological advancements, it will be difficult for them to survive in the industry.
This was reteirated by Peter Scott, president, Lighting Industry Association (LIA), in an interview to Luxreview, when he said that the lighting companies should adapt to the need for more specialist products, and add more value to their products through different features.
Scott believes that despite the emerging technologies like laser generated lighting, LEDs will rule the industry for at least the next 15 years before any significant technology take that position away from LEDs.
However, he said that the challenge the lighting industry faces is lack of sufficient information. For example, the real installed base of commercial lighting that has converted to LED lighting is even less than 5% per year. So it could take more than 20 years before the installed base gets completely changed to LED lighting. Hence, huge business opportunities are lying ahead for the LED lighting players.
Scott also pointed out that standards for LED lighting should remain uniform throughout Europe, which is the biggest market for LED lighting products.