LED LIGHTING MARKET ANALYSIS

Key Developments

• In October 2023, Yeelight launched its new LED product, the Yeelight Beam, featuring a tabletop-style design with a built-in headphone stand. This light is easy to set up and can be controlled through multiple smart home platforms, including Apple HomeKit, Amazon Alexa, and Google Home.
• In October 2023, Halonix Technologies, a leading electrical company in India, launched the innovative UP-DOWN GLOW LED bulb. This unique lighting solution features both the upper dome and lower stem glowing in various colors, offering consumers three switch-enabled modes to create a magical ambiance in their rooms.
• In September 2023, Advanced Lighting Technologies, LLC (ADLT) announced that it had acquired LED lighting manufacturer, Cree Lighting Inc., including Cree Lighting Canada and E-conolight, from IDEAL INDUSTRIES, Inc. for an undisclosed amount.
• In September 2023, Signify, the parent company of the Philips Hue brand, announced the global launch of its Philips Smart LED bulbs. This new product lineup originated from Signify's 2019 acquisition of Wiz, and it is differentiated from Hue products by the "Wiz Connected" branding on its blue packaging.
• In May 2023, Cyclone Lighting, an established manufacturer of outdoor luminaires under the Acuity Brands portfolio, announced the debut of its Elencia luminaire. The Elencia features high-performance optics and an updated, modern lantern styling that provides an upscale aesthetic to outdoor post-top illumination.
• In May 2023, Dialight, the global leader in hazardous and industrial LED lighting innovation, announced the launch of its industry-leading 7-year warranty for Aviation Obstruction Lighting Solutions. This initiative underscores Dialight's commitment to customer satisfaction and product quality in the LED lighting market.