LEDs are largely used for general lighting purposes, for automotive lighting, and backlighting. These are the three main segments, with general lighting fragmented further, of which residential sub-segment being the largest one. According to industry experts, the residential sub-segment holds nearly 75% share of the overall market. The basic difference between LED technology and other lighting techniques will lead this lighting industry to a new value chain. Additionally, as the prices LED lighting will be further reduced in the coming five years as manufacturers look for innovative methods to gear up production. LED manufacturing in China will witness a palpable surge in 2015 as manufacturers look for newer application to raise their profitability.
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Most buyers look at the quality of light such as color temperature, CRI, light distribution, and color consistency while buying light fixtures, other than making purchases for residential purchases, where the choice is made based on price. The other concern manufacturers need to cater to is the lifecycle of these lights and an improved energy efficient solution.
According to industry experts, the automotive LEDs segment will grow at a steady rate with the high/low beam lights and Daylight Running Lamps (DRL) promising a good pace. The factors driving this segment will be supported by advancements in technology and reducing prices. Owing to these reasons, both high class cars and middle class cars are opting for LEDs, which will spur the automotive lighting segment in the coming years. Some of the key players in the LED lighting market are Osram, GE Lighting Solutions, Solid State Lighting Systems, Maxion Technologies, Philips, QD Vision, Mitsubishi/Verbatim, Cree, and Lighting Science Group. The innovative measures, mergers and acquisitions, and financial strategies of these companies will decide the future of the LED lighting market.
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