Top 3 Trends Impacting the Global Lighting Market in the Hospitality Sector Through 2020: Technavio
Technavio’s latest report on the global
lighting market in the hospitality sector provides an analysis
on the most important trends expected to impact the market outlook from
2016-2020. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Navin Rajendra, an industry expert from Technavio, specializing in
research on lighting
sector, says, “Lighting manufacturers are focusing on the development of
smart lighting solutions to capitalize on the growing diversity of
internet of things (IoT) standards. Lighting manufacturers are
introducing smart LED bulbs that can communicate with other IoT devices
such as smartphones.”
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The top three emerging trends driving the global lighting market in the
hospitality sector according to Technavio hardware
and semiconductor research analysts are:
-
Declining manufacturing cost of LED
-
Ban on use of energy-inefficient lighting sources and components
-
Demand for intelligent lighting systems
-
Rapid urbanization
Declining manufacturing cost of LED
The manufacturing cost of LEDs
has declined since 2012 and will continue to decline during the forecast
period. This is mainly due to the declining ASP of the chips and
components used in the manufacturing process of the LED devices. The
decline in manufacturing cost of LEDs is leading to the decline in
initial installation cost of LED lamps and fixtures. This is
accelerating the installation of new LED lamps and fixtures in the
hospitality sector.
Ban on use of energy-inefficient lighting sources and components
Energy efficiency has become a major concern nowadays, particularly as a
result of global warming and the rapid depletion of non-renewable power
resources. Increased consumption of energy has led several countries
worldwide to frame policies that ban the use of incandescent light
bulbs, which have relatively low power efficiency. For instance, the
Australian Federal Government has banned sales of incandescent light
bulbs, since 2010. Furthermore, it has announced a list of minimum
energy performance standards for lighting products. In Africa, a law was
passed in 2011 to ensure that new buildings meet energy-efficient
specifications.
The EU passed legislation in 2013 to phase out halogen lamps, which are
typically used in parking lots and warehouses in the hospitality sector.
Governments have also proposed new guidelines that aim at conserving
energy. For instance, California Energy Commission’s Title 24 standards
demand incorporation of multi-level controls or continuous dimming for
all luminaires used in commercial buildings. The new version of the
standard mandates daylighting controls and occupancy sensors in many
different indoor spaces, from indoor parking areas to offices to
classrooms.
Demand for intelligent lighting systems
Digitization has revolutionized the lighting industry with the
introduction of new generation intelligent lighting systems and
controls. Electron ballast with embedded intelligence is foraying in the
market that offers lighting systems the ability to adapt to changing
space needs in the hospitality sector.
The ballasts are networked via a low-voltage bus, which will enable them
to perform various functions such as automatic shut-off, daylight
harvesting, demand response, and personal dimming control. As LEDs are
integrated with sensors
and controls, the demand for LED lighting is increasing at a rapid pace,
especially in outdoor and industrial applications. “Therefore,
intelligent lighting systems not only save energy but also provide
valuable information that can be used for energy analysis and
maintenance,” says Navin.
Rapid urbanization
Rapid urbanization worldwide, especially in emerging economies, is
leading to the increased demand for lighting devices in the hospitality
sector. Rapid urbanization and changing lifestyle, will impact the
hospitality sector due to increasing demand for luxury bars,
restaurants, and high-class facilities in hotels, boosting the growth of
advanced high quality lamps and luminaires. The luxury landscape will be
largely driven by the rising urban middle class consumers, fueling the
need for more commercial buildings, luxury malls, hotels, and
restaurants.
Rapid urbanization prompts governments of different regions to invest in
large scale urban infrastructure projects to meet the needs of the
growing population. As of 2015, there are 35 megacities worldwide, some
of which are Beijing, Delhi, London, New York, Paris, and Tokyo. The
development of mega cities will lead to the development of high class
luxury hotels and restaurants in the cities, further driving the demand
for energy-efficient lighting solutions.
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