Lighting Industry Trends to Know for 2018January 22, 2018
A new year emerges and with it, further advancement of technology and change within the lighting industry as we know it. In 2017, it became clear that the need for higher quality, energy-saving lighting solutions was one with great potential for growth in the years ahead. After all, the LED lighting volume and penetration rate in the past year grew to 22 percent and is expected to rise to 63 percent by the year 2022.
Here are some additional trends expected to unfold in LED and the lighting industry as a whole in 2018.
LED market value growth
It’s projected that LED lighting market scale will reach $37.2 billion in 2018. As more and more industries — such as automotive, architectural and more — work towards large-scale updates, the solutions needed in helping them do so will rise as well.
Innovations in ‘digital light’
As lighting solutions grow smarter, so will their potential use cases. Lighting as it relates to the IoT will become a continued area of interest for offices and public spaces in need of solutions for increasing productivity and well-being.
An increase in lighting needs within more niche industries, such as horticulture and healthcare will serve as a driving force behind LED adoption on a global scale. The dominance of this in China especially will continue to be seen with high demand in both plant factory construction and greenhouse lighting.
Adoption of Li-Fi
Imagine an alternative Internet solution capable of running 100 times faster than Wi-Fi. This alternative known as Li-Fi will see further realization and adoption in 2018. This delivery of Internet via light is most likely to see its first use cases in the security, military and diplomatic sectors.
Controls get compact
As technology becomes more advanced, it typically becomes smaller in size. This will ring true for lighting as large black box control panels are swapped out for cleaner, further simplified interfaces. Machine learning or ‘self-learning’ algorithms will also be incorporated offering smarter, more seamless solutions for the day-to-day.
Lighting services gain traction
Rising to meet new and developing standards in energy will leave more and more companies seeking transformations in lighting on a large scale. In order to meet these needs, lighting as a service will be an ever growing industry in the years ahead. As a service marketing, it’s projected to reach $4.74 billion by 2025.
Interested in learning more about how Go Beyond Lighting can guide your business towards a brighter tomorrow in 2018? Contact us today for a consultation.