With the rapid development of science and technology and economy, people's material and spiritual needs are constantly increasing. Due to its own defects, such as simple on/off and adjusting the brightness of lamps, traditional lighting will gradually be replaced by smart lighting. Compared with traditional lighting, smart lighting can provide people with a more convenient, simpler and smarter home life experience.
The home lighting industry ushered in an initial rapid development from 2016 to 2019, and the growth rate slowed down slightly from 2020 to 2021 due to the impact of the epidemic. It is expected that the performance of the home lighting industry will rebound sharply in 2023, and the market size will reach 41.3 billion. Among them, the market performance of household smart lighting products in recent years is optimistic, and major manufacturers have begun to layout. From 2016 to 2022, home smart lighting has been showing a rapid growth momentum, with its market share rising from 2.0% in 2016 to 20.4% in 2022, and the proportion has increased by 20% in 7 years. It is estimated that the market size of household smart lighting will exceed 10 billion in 2023, and smart products will account for 24.2%.
As a traditional advantageous industry in China, the lighting industry has many enterprises, relatively small scale, low concentration, and the industry as a whole is in the mature stage of full competition, and the competition in the stock market is fierce. Under the dual catalysis of the industry environment and the external environment, the industry's leading enterprises will rely on their own good cash flow, the integrity of the supply chain and the research and development capabilities of new products, the market competitiveness is strong, and it is expected to maintain a growth trend.
