Technologies point to bright prospects for smart lighting
The 11th HKTDC Hong Kong International Lighting Fair (Spring Edition), organised by the Hong Kong Trade Development Council (HKTDC), came to a successful conclusion this week. The four-day fair (6th to 9th April) welcomed around 21,000 buyers from 124 countries and regions, with a significant growth in attendance from various markets.
More than 1,430 exhibitors from nine countries and regions were featured at this year's Spring Lighting Fair, offering exhibitors and buyers a promotion and sourcing platform.
Benjamin Chau, HKTDC Deputy Executive Director, said: "Smart lighting technology has seen rapid development in recent years. Simple automatic lighting has evolved into today's IoT lighting systems that are energy-efficient, beautifully designed and easy to manage. Even as uncertainty continues to loom over the global economy, the growing trend for smarter lighting has not dimmed, and orders for smart lighting products have continued to grow.
“Smart lighting products once again enjoyed the spotlight at this year's Spring Lighting Fair, with plenty of new lighting systems and wireless lighting controls products on display. The HKTDC also organised an array of seminars and forums during the fair to promote industry growth."
To get a better understanding of the prospects for the industry, the HKTDC commissioned an independent on-site survey during the fair in which 363 buyers and exhibitors were interviewed. The survey found respondents to be cautiously optimistic about the lighting market in 2019, with 53% expecting overall sales to rise this year and 36% anticipating that sales will remain unchanged.
Only 39% of respondents foresee that product prices will increase, while 49% expect prices to remain unchanged. As for lighting market prospects, Middle East and ASEAN are the two emerging markets most favoured by respondents, followed by Hong Kong, Mainland China, South Africa and Australia.
Survey respondents expect that the Hong Kong Special Administrative Region Government's smart city initiatives will benefit the lighting industry. Of those surveyed, 56% believe that government policies are conducive to the lighting industry's development; 89% consider the outlook for smart lighting to be promising; and respondents anticipate that smart lighting systems designed for home automation (38%), outdoor security (21%) and energy efficiency (15%) have the greatest growth potential in the coming two years.