According to the latest market research report, next generation lighting achieves a complete replacement of incandescent bulbs with LED lighting that is more energy-efficient, lasts longer and has a hugely lower cost of operation.
There is a move by led light suppliers to provide more pieces of the LED light. In this way they seek to control their margins. led light suppliers primarily compete with other providers of LED lighting on the basis of product performance, as measured by efficacy, light quality, increased lumen output and reliability. Product cost combined with an acceptable level of quality is always a competitive issue.
LED light suppliers seek to offer LED lighting products that achieve a lower total cost of ownership and enhanced product quality. The channel looks for a broad product portfolio. Those suppliers with a broad product portfolio have access to strong retail channels. Channel strategy is further impacted by OEM relationships. A differentiated product design approach, proprietary technology and deep understanding of lighting applications aids the ability to compete in LED lighting markets.