HKTDC: The LED Lighting Industry Has Optimistic Outlook In 2018

- May 16, 2019-

1. The LED Lighting Industry Has Optimistic Outlook In The Coming Year

The three exhibitions attracted a total of nearly 69,000 buyers from 151 countries and regions to visit and purchase, an increase of 7% over the previous year. Buyers in India, Iran, Brazil, UAE, China, Spain, Russia, Taiwan, Italy and France all recorded double-digit increases.


Zhou Qiliang, vice president of the Hong Kong Trade Development Council, said that from the perspective of buyer entry and business matching figures, on-site survey results, and Hong Kong’s recent export performance, the outlook for the LED Lighting industry is optimistic for the coming year. He said: "According to the on-site investigation, 93% of the respondents believe that smart cities and smart homes will drive the development of the LED Lighting industry in the next two years. Home LED Lighting systems that can communicate or remotely control with smart phones or tablets, and mainly power-saving Home, industrial, and commercial smart LED Lighting systems that aim to be energy efficient will become very hot.”


2. 2018 sales expected to increase 16%


The HKTDC commissioned an independent investigation agency to visit 636 exhibitors and buyers during the Autumn Lighting Fair and Outdoor Lighting Expo. About 95% of respondents are optimistic about the market performance in the coming year or think that this year is similar to this year, and it is expected that the average increase in sales of LED Lighting products will reach 16% next year.


The markets most visited by optimism were Mainland China, Japan and ASEAN. In the emerging markets, the industries most interested in developing business in the industry are Mainland China (24%), ASEAN (17%) and the Middle East (7%). In terms of products, the industry interviewed considered that home Lighting (29%) had the most growth potential, and LED and environmental Lighting products (24%) and commercial LED Lighting (16%) were also seen as high-level.


3. "LED Lighting Network" becomes a trend


During the exhibition, the organizers invited industry leaders to talk about market trends and product trends. Integrating the opinions of various experts, the function of the lamp has changed from LED Lighting to a “LED Light network” combined with the Internet of Things, and it has become an indispensable part of the smart home. LED Lights are everywhere and are the best carrier for transmitting and collecting data. The combination of LED Lighting products and the Internet of Things will become a trend. The industry needs to accelerate cooperation with different industries to capture new business opportunities. The industry must apply cross-border technologies, including cloud platforms, artificial intelligence, sensors, intelligent modules, voice recognition, and software applications, to connect smart LED Lights.