The Future of LED
The LED industry is rapidly growing and it is not difficult to understand why. LEDs last longer, are more energy and cost efficient, include features such as dimming and color changing, and are much kinder to the environment. LED is rapidly replacing previous lighting technology such as Incandescent.
According to data provided by statista.com, LEDs were responsible for 1.8% of all artificial lighting in 2012. The most recent calculation was done in 2019 and it concluded that LED has risen to 46.5% of all lighting. Future estimates show that LED will provide 87.5% of all lighting in the year 2030. The global market size of LED lighting is projected to rise as well, from $70 million in 2019 to about $100 million in 2023. LED technology is very efficient and is expected to not only stay in the world, but to spread rapidly.
As the years are passing, more people are accepting LED technology in their lifestyle. And if there is a great demand fore LED, naturally business will come to provide the supply. Growing research into LED technology and a new competitive market has pushed the features and benefits of LED lighting to grow. For example, the most modern versions of LED fixtures have tunable wattage and CCT. These fixtures are exactly the same as their previous counterparts; except the customer can modify the brightness and color the fixture emit. These luxurious features do not even raise the price of the LED for that manufacturing capabilities of LED are becoming greater everyday.
Another technological achievement with LEDs is what is generally referred to as smart lighting. Smart lighting is capable of automotive controls, meaning they turn on automatically when a person is detected. What smart lighting is really known for however, are the Wi-Fi applications. This usage of Wi-Fi is referred to as Li-Fi. Li-Fi is an upgraded version of Wi-Fi Internet connectivity using light rather than radio waves with an ability to transfer speeds up to one hundred times faster. Smart LEDs would be capable of optimizing air conditioning and heating, power grid management, and next generation wireless technologies. Having Li-Fi integrated LED will allow commercial spaces and offices to create a much more stable Internet quality and connection.
The future of LED is looking brighter than ever!