|Transformation of the Lighting Market in Asia-Pacific, 2019|
|LED Revolution, Smart Technology, and New Business Models Propelling a Paradigm Shift|
From traditional incandescent lamps to compact fluorescent lamps (CFL) to light-emitting diodes (LED) and laser diodes (LD), the lighting market has come a long way in the last 10 years. With growing LED adoption and increasing smart solutions, leveraging Internet of Things (IoT) and Light Fidelity (LiFi), the lighting market is going through a phase of enormous transformation. This transformation is not restricted to technological advancements. There is a paradigm shift that has been observed in the entire lighting market dynamics, directly impacting product offerings, competitive landscape, distribution channels, and business models.