LED lighting has become a vigorously promoted industry in China due to its advantages of environmental protection and energy conservation. The policy of banning incandescent bulbs has been implemented in accordance with relevant regulations, which has led traditional lighting industry giants to compete in the LED industry. Nowadays, the market is developing rapidly. So, what is the development situation of LED products in the world?

According to data analysis, global lighting electricity consumption accounts for 20% of the total annual electricity consumption, of which up to 90% is converted into heat energy consumption, which not only lacks economic benefits. From the perspective of energy conservation and environmental protection, LED lighting has undoubtedly become a highly regarded technology and industry. Meanwhile, governments around the world are actively formulating environmental regulations to prohibit the use of incandescent bulbs. Traditional lighting giants are introducing new LED light sources, accelerating the formation of new business models. Stimulated by the dual interests of the market and regulations, LED is rapidly developing globally.

The advantages of LED are numerous, with high luminous efficiency and long lifespan. Its luminous efficiency can reach 2.5 times that of fluorescent lamps and 13 times that of incandescent lamps. The luminous efficiency of incandescent lamps is very low, only 5% of electrical energy is converted into light energy, and 95% of electrical energy is converted into heat energy. Fluorescent lamps are relatively better than incandescent lamps, as they convert 20% to 25% of electrical energy into light energy, but also waste 75% to 80% of electrical energy. So from the perspective of energy efficiency, both of these light sources are very outdated.

The benefits generated by LED lighting are also incalculable. It is reported that Australia was the first country in the world to introduce regulations prohibiting the use of incandescent bulbs in 2007, and the European Union also passed regulations on phasing out incandescent bulbs in March 2009. Therefore, the two major traditional lighting companies, Osram and Philips, have accelerated their layout in the field of LED lighting in recent years. Their entry has promoted the rapid development of the LED lighting market and also accelerated the pace of global LED technology progress.

Although the LED industry is developing well in the field of lighting, the phenomenon of homogenization is becoming increasingly apparent, and it is impossible to form diverse innovative designs. Only by achieving these can we stand firm in the LED industry.