In the 21st century, the lighting industry is a widely discussed topic in the tech world. Nowadays lighting is not limited to just providing light, it is all about a revolutionary innovation to the modern world. The evolution of lighting has come a long way, from the replacement of inefficient incandescent, halogen, and fluorescent lamps with less power consuming modern LED lights.
Today, the lighting industry has been able to reduce energy consumption for lighting by 18%. It is expected to reduce the total electric power consumption from 18% to 13% by the end of 2021 – a blessing for modern civilization. We already have many revolutionary energy-efficient products and continue to expect more.
Do you ever wonder what the lighting industry will look like in the near future, let’s say in the next 10 years? With the dazzling transformations, innovations, and digitization, it is not difficult to guess its future, is it?
The Revolution of Lightning Industry
At first, mankind simply needed light to get rid of the darkness. Today, with overpopulation and high demand, we don’t just need light, we need energy-saving power-efficient light, not only to alleviate darkness but also to create a modern world for the existence of human society. That is where the Lighting industry introduced us to the improved, power-efficient LED lights. With the discovery of LED lights, we learned the best way of using lights and how to save energy at the same time.
How LEDs become the Future of the Lightning Industry
LED lights are the glittering invention and new technology trends in the lighting industry. It leverages the latest technology to discover energy-efficient LEDs, that replaces all types of previous inefficient lights. Their less manufacturing cost, easy accessibility, cost-effectiveness, and eco-friendliness has helped the industry to move forward.
Back in the day, light fixtures and control system (which is known as driver) were incompatible. Today, LED luminaires come with a built-in driver that converts the electricity supply into a form of light. The built-in driver technology completely removes the incompatibility issue.
Nowadays in the modern world the industry is offering smart lighting to every user. The industry embedded “smart” technology in lighting. According to market research, the smart lighting products market will grow at a compounded annual growth rate of 30% within 2023.
Lighting Industry Trends 2021
Technological advancements already took the lighting industry to the next level. Here are some different new trends in lighting technology that will affect the lighting sector over the next decades:
1. Smart LED Lights/IoT-enabled Lights: Modern world requires modern gadgets. The biggest trend is toward IoT-enabled or “Smart” fixture LED lights. Because of that, users will be able to control the lights such as turn on, turn off, dim, turn up the lights using just a simple app, even though they are not at home. Users will no longer require switching on or off to turn on or off the lights. Connecting all lighting digitally is a new trend in the lighting industry.
2. Wireless Lighting: Like smart lighting systems, the lighting industry will adopt the wireless connectivity lighting trend too, where everything will be connected and controlled wirelessly. Moreover, the Lighting industry will utilize Wi-Fi technology with LED luminaries to create a light communication system (Li-Fi) in the future.
3. Improved Form-factor LED Lights: Where traditional lights are inefficient, limited variety of design, shape, or options, LEDs come with various design flexibility, shape, and options with less power consuming technology. The lighting industry will follow the slimmer, improved form-factor profile, compact design, and flexibility trend that are easy to retrofit and install, where no rewiring is required.
4. LEDs for All: LED fixtures have a good number of environmental and health benefits. Light Emitting Diode (LED) emits less Gamma rays. LEDs consume less electric power too. Moreover, modern science proved that light from all sources, such as monitors, smartphones, LED fixtures can affect human mood, sleep pattern, and health. That’s why, of course, we require a clear and healthy light spectrum (especially at night) to prevent melatonin suppression in order to prevent cancer. The lighting industry will look forward to creating human-centric lighting solutions soon.
5. Built-in Lights: LED lighting is a big game-changer that is designed with built-in lighting sources. The lighting industry will follow this built-in control system which is integrated with lighting fixtures. This type of lighting source has a longer lifespan and does not require frequent replacements.
6. Power Outage Light Bulb: In today’s modern century, self-charging light bulbs are obviously another great trend of the lighting industry. Self-charging light bulbs are rechargeable, emergency light bulbs that work without electricity for a decent amount of time.
The smart charging features allow this light bulb to automatically recharge its battery when the light is ON. The backup light provides 3hrs of emergency illumination on demand for safety. Knowing the bulb is there when you need it adds peace of mind.
The power outage light bulb is a new trend that the lighting industry is definitely going to try out. It will enhance its output capacity, and provide efficient battery management and minimize its cost as well.
Lighting Industry Statistics & Forecasts
In 2020, the global LED lighting market was valued at $75.81 billion dollars. From this year, this market size is expected to expand at a compound annual growth rate of 14.25% which is expected to reach $160 Billion dollars by 2026. The lighting industry is predicted to generate a $263-billion-dollar revenue in 2030.
Statistics show that we can save an amount of $18 billion dollars in electric costs by transitioning to energy-efficient LEDs. 160 million metric tons of carbon dioxide emissions can be avoided every year as well.
According to lighting statistical data, 10% of electric power is generally used in households and more than 40% of electricity is used by commercial premises. By transitioning energy-efficient lighting, the industry will reduce 30-40% global electricity demand by 2030.
The lighting industry has been growing rapidly. Digitization, smart technology, LED lighting systems, lighting innovations, people’s understanding and awareness of the impact of light on human health make the lighting industry more dynamic. We can expect more improved lighting features in the near future.