Escalating pressures on companies to increase energy efficiency, reduce operating costs and meet stringent government regulations are driving dramatic growth in global light-emitting diode (LED) use. According to a January 2021 Mordor Intelligence report, the LED lighting market was valued at USD 75.81 billion in 2020 and is expected to reach USD 160.03 billion by 2026.
Existing LED technology already offers better efficiency and resiliency over traditional incandescent lights. However, today's end-users, installers and luminaire companies are searching for commercial lighting systems that are more flexible, durable, and easier to implement, use and control than today's wired lighting systems.
The emerging focus is on smart, wireless commercial lighting networks that can support carbon footprint reduction through demand-driven lighting, daylight harvesting, occupancy detection, improved light quality and flicker/interference-free dimming. In the future, these networks can even serve as backbones for Internet of Things (IoT) applications such as asset tracking and building utilization analytics.