LEDinside's latest report “2018 Commercial Lighting, Smart Lighting and Panel Light Market Report” stated that in recent years, due to the energy efficiency and cost-effectiveness of LED lamps and lanterns, it has gradually gained the recognition of consumers, and the global LED commercial lighting market has continued to expand in size, and globally in 2018. The LED indoor commercial lighting market was US$15.87 billion, accounting for 42% of the global LED lighting output value. The estimated annual global LED commercial lighting from 2018 to 2021 had a compound annual growth rate of 3%. Compared with previous years, the growth rate was slowing down. The main reason comes from the decline in the price of LED lighting product terminals and the decline in the stock market needs to change.
In 2018, commercial smart lighting accounted for 33.5% of the global smart lighting market, reaching 2.53 billion U.S. dollars, because digital features can bring more new business models and value growth points, so commercial lighting is currently the largest intelligent lighting Application site. In the next few years, the market is expected to continue to grow. By 2020, the global smart lighting scale will reach US$13.4 billion.