LED lighting has become the mainstream of the industry, laying a solid foundation for the development of intelligent lighting

After nearly a century of development, lighting products have evolved from the initial incandescent and fluorescent lamps to the current LED lamps. In recent years, with the popularization of environmental protection concepts and the progress of LED technology, LED lighting products are rapidly replacing traditional lighting products, and incandescent and fluorescent lamps are gradually entering the phase of elimination. As a new type of efficient and energy-saving lighting product, LED lighting products are a key promotion product for energy-saving lighting in various countries around the world. Countries around the world have gradually clarified the timetable for phasing out incandescent lamps, with countries/regions such as the European Union, Australia, Japan, and the United States starting relatively early. The National Development and Reform Commission also released a roadmap for phasing out incandescent lamps in 2011, and the scale of the LED lighting industry has steadily expanded, gradually replacing traditional lighting, Occupy a mainstream position in the lighting industry.

Under the strong guidance of national policies and the rapid iteration of LED lighting products, the substitution effect of LED on traditional light sources continues to be released, and the penetration rate of LED continues to increase. According to data from the National Semiconductor Lighting Engineering Research and Development and Industry Alliance, the penetration rate of LED lighting products in China was only 3.3% in 2012, and by 2021, the penetration rate of LED lighting products in China will reach 80%.

According to statistics from the National Semiconductor Lighting Engineering Research and Development and Industry Alliance, the size of China's LED lighting market has increased from 635.8 billion yuan in 2017 to 942.8 billion yuan in 2021. It is expected that the size of China's LED lighting market will exceed one trillion yuan and reach 1008.5 billion yuan in 2022.

Intelligent lighting has broad application fields and is expected to maintain rapid growth in the future

On the basis of LED lighting, intelligent lighting achieves intelligent control of lighting equipment through a distributed lighting control system composed of partial Internet of Things technology, wired/wireless communication technology, power carrier communication technology, embedded computer intelligent information processing, and energy-saving control technology. In the application field, intelligent lighting covers household lighting, commercial lighting, industrial lighting and urban lighting, and has great prospects in green energy conservation, internetworking and urban management.

Intelligent lighting, as an important component of scene interconnection, has seen a growing demand in recent years with the continuous extension of the concept of intelligent living, which will further usher in rapid development. According to statistics from the China Academy of Commerce and Industry, the intelligent lighting industry has developed rapidly since 2017, and the market size has increased from 14.7 billion yuan in 2017 to 39.8 billion yuan in 2022, with an annual compound growth rate of 22.04%, showing a relatively high growth trend. Driven by the intelligence of front decoration scenes, the market size of China's intelligent lighting industry will accelerate and expand, with huge market potential.

In recent years, the scale of the intelligent control market has been continuously increasing, and the penetration rate has shown an overall upward trend, with significant room for improvement.

According to statistics from Jiuqian, in terms of sales volume, online intelligent switches sold 1.25 million units in 2020, 1.656 million units in 2021, and 1.951 million units in 2022, with sales continuously increasing. The sales volume in 2021 increased by 32.48% year-on-year. In terms of sales revenue, from 2020 to 2022, the sales revenue were 81 million yuan, 147 million yuan, and 162 million yuan, respectively. In 2021, the sales revenue increased by 81% year-on-year. In 2022, the penetration rate of online intelligent switch sales reached 16%, and the compound growth rate of sales revenue from 2019 to 2022 was 45%. The online intelligent switch market is developing rapidly and has great growth potential.

In the refined decoration market, the matching rate of intelligent panels for refined decoration has steadily increased. According to statistics from Ovi Cloud, the scale of intelligent switch matching in the domestic refined decoration market reached 427000 sets in 2021, a year-on-year increase of 15.5%; The configuration rate of intelligent switches is 14.9%, an increase of 3.5 percentage points compared to 2020, and the growth trend is relatively obvious.

Industry Development Trends

(1) Continuously improving the quality and intelligence of lighting products

With the continuous improvement of power carrier communication technology, white light LED technology, and embedded computer intelligent information processing technology, people's demand for the quality of LED light sources is also increasing. From the initial simple pursuit of "high brightness" to a "high quality" that takes into account color rendering index, color temperature, and other light and color performance, Intelligent lighting products that integrate multiple technologies and functions are also playing a very important role in the development of various industries. Compared to traditional lighting and LED lighting products, intelligent lighting products integrate multiple intelligent control functions such as color temperature adjustment, timing control, light sensing control, and intelligent scene conversion. Relying on various control function modules and bus control systems, intelligent lighting products are easy to operate, flexible in control, and highly safe, creating a safe, energy-saving, comfortable, and efficient home environment for residents. In the future, with the progress of cutting-edge technologies such as the Internet of Things, wireless communication technology, and energy-saving control technology, and the decrease in product costs brought about by industrial scale, LED will quickly enter the era of quality and intelligence, and the application of intelligent lighting products will accelerate and become the mainstream product in the lighting industry in the next stage of the market. This will bring new development opportunities to enterprises that master the core technology of intelligent lighting, and further enhance the industry competition threshold.

(2) The intelligent front-end market is gradually rising, and it promotes and develops mutually with the back-end market

In recent years, various provinces and cities have successively introduced policies to accelerate the development of finished residential buildings. The market for rough houses is gradually shrinking, the proportion of furnished houses is increasing, and the intelligent overall solution for front decoration is gradually becoming a selling point for real estate companies to increase product added value. The intelligent scenario solution for front decoration helps to increase product highlights, enhance sales competitiveness, and improve user experience, as well as promote brand reputation. Some smart front-end manufacturers have started collaborating with real estate and home decoration companies to package their products into overall smart front-end solutions. On the one hand, they leverage the power of offline channels to reach consumers faster, and on the other hand, they will expand their target users to groups with stronger consumption ability and a wider age range.

The home aftermarket and the front market are suitable for different scenarios, and aftermarket products can be freely installed by users, mainly providing users with incremental intelligent lifestyles, such as smart home appliances and other products. The intelligent front decoration market has almost freed itself from the functional structure, wiring design, and furniture placement limitations of existing houses, and can provide users with comprehensive, integrated, and personalized design from the beginning of rough houses. Therefore, the intelligent front decoration market can provide more systematic and comprehensive solutions. The front intelligent products are more unified in decoration style, more collaborative in functions, and more complete in experience. The rear intelligent products are more flexible in selection, more convenient in replacement, and cheaper in cost. The two complement each other's advantages and jointly promote the development of the smart home industry.