LED special commercial lighting market sees 16

1. LED special commercial lighting market sees 16.4 billion US dollars The four major special commercial lighting markets, including plant lighting, medical surgical lighting, marine and port lighting, and smart lighting, have gradually attracted market attention. In 2016, the global LED special commercial lighting market size was US$4.36 billion, and it will be seen by 2020. US$16.4 billion, with a compound growth rate of 30% from 2016 to 2020. ENELTEC estimates that the global LED smart lighting market in 2016 will be 2.35 billion US dollars, and it will reach 13.427 billion US dollars in 2020. It is the market with the most development potential in special commercial lighting applications. Wu Yingjie, deputy research manager of LEDinside, said that although LED lighting has entered an era of low prices, because the smart lighting market is in its infancy, the scale effect has not yet formed, and the cost of related software and hardware products is still high. In the future, with the evolution of technology and products, manufacturers actively promote and the public's acceptance increases, and the market will grow significantly. The outlook of the global LED plant lighting market is also quite optimistic. LEDinside estimates that the global LED plant lighting market size in 2016 is about 575 million US dollars, and will grow rapidly to 1.424 billion US dollars in 2020. Wu Yingjie pointed out that under the global climate change, the market demand for delicate crop cultivation, aquaculture, food storage and preservation, etc., all drive the prospect of the plant lighting market to be prosperous. The U.S. market has benefited more from the legalization of medical marijuana cultivation, and some states and provinces have even opened up recreational marijuana, increasing demand.