Compared with traditional incandescent lamps and energy-saving lamps, LED lighting products have the advantages of high efficiency, energy saving, easy recycling, non-toxic, long service life and other environmental protection.

With the intensification of the global energy crisis, the enhancement of residents' awareness of environmental protection, as well as the technological progress and cost decline of LED lighting products, their economic cost performance has been continuously improved. LED lighting is gradually becoming one of the hot industries in global economic development.

Recently, according to the data, in the past five years, the global LED lighting market has increased from about US $22.9 billion in 2012 to about US $55.1 billion in 2017, with a compound annual growth rate of about 19.2%, and the use of home and outdoor is the main growth factor.

It is understood that dimmable LED lighting not only helps to improve the indoor environmental atmosphere, but also helps to save energy to a great extent. Due to the increasing awareness of environmental protection and the demand to control energy consumption, the dimmable LED lighting market continues to grow rapidly and is expected to grow in the next few years.

At the same time, the communication connection technology of the Internet of things is used to connect lighting equipment and related sensing equipment. The emergence of such intelligent lighting will broaden the application range of LED lighting and promote the development of LED lighting market.

In the future, with the continuous progress of packaging technology, many in one SMD (surface mount device), formal cob (chip on board packaging), flip cob and other technologies will mature and be applied. With the continuous upgrading of LED technology, it can promote the performance of mainstream products in the market.

Therefore, driven by such rapidly growing market segments, it is expected that the scale of China's LED lighting market will further grow in 2019, which is expected to exceed 700 billion yuan.