At first glance, emergency lighting does not seem like an explosive growth industry. However, it has grown steadily over the past few years and even earned billions of dollars in revenue, exceeding expectations. In fact, experts predict that the industry will continue to grow until 2020 and beyond, and conquer markets outside the United States. This is good news for emergency lighting manufacturers who are concerned about the status of the industry and consumers who want to get lighting.
Advances in emergency lighting technology have also contributed to the development of the industry. Consumers appreciate the fact that energy-saving, high-performance LED lights and more powerful lithium-ion batteries. The fact that the average selling price of LEDs continues to fall also helps convince consumers that emergency lights are worth the investment.
The advent of smart homes has surprisingly propelled the industry. Many homeowners install emergency lights in their homes, mainly because they can now be controlled from homeowners' smartphones and tablets. This curiosity became a practical need when people realized that emergency lighting could help improve the safety of a house.
Of course, it must be pointed out that the emergency lighting industry does face many challenges. Market maturity in Western countries means companies must work harder to innovate products and increase market share. At the same time, those who want to enter the eastern market must face a lack of awareness of the importance of emergency lighting.
However, these challenges do not seem to seriously affect the future development of the industry. Frost and Sullivan estimates that the industry's revenue in 2018 will reach a staggering $ 4.91 billion. On the other hand, company research company Research and Markets predicts that by 2022, the LED emergency lighting industry will grow by 11%.
These optimistic predictions can provide emergency lighting manufacturers with the inspiration they need to provide more innovative products so that they can reach their target audience. At the same time, consumers want to work with manufacturers' sales representatives, who provide professional consulting services and can help them choose the best emergency lights according to their needs.
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