Intense market competition from Chinese manufacturers has driven down profits for LED manufacturers, cost efficient technologies and getting the most out of cost/performance ratios has driven LED chip technologies to ever new economic developments.
Adding on top of existing lighting manufacturers woes has been conventional technology companies entry into the market especially in connected lighting. Dawning of the age of IoT will provide manufacturers plenty of chances and challenges from large consumer electronic manufacturers.
Asia Pacific commands dominance of the LED technology market. The region houses nearly 3/4 of the global electronics manufacturing industries. After the grand success of the CFLs, LED is the next buzzing technology in the general lighting industry. Absence of hazardous liquid mercury and power efficiency has allowed LED to successfully penetrate the market and has outdone CFL lighting in the commercial market.