The lighting market is almost completely the LED lighting market. Energy efficient and smart lighting technology for both driving and controlling the lighting systems are rapidly growing. Lighting controls and sensor integration – smart home/smart building controls have enjoyed rapid growth.
The lighting electronics market is influenced by various factors, including the increasing demand for energy-efficient and environmentally friendly lighting solutions, government regulations promoting energy savings, the IoT technology in smart lighting, and the desire for aesthetically pleasing and customizable lighting options. Reliability and quality are key as the warranties for the end products are often 7-10 years.