April 14th, 2016 by Joshua S Hill
A new white paper from research firm Navigant Research investigates the transition under way as the lighting industry shifts from traditional lighting sources to integrated lighting.
“The lighting industry is headed down a path of market transformation,” Navigant Research said, “with new technology developments and innovative applications expected to displace the traditional light bulb,” thanks to the LED, which Navigant describes as “the force majeure in today’s lighting industry, offering significant energy savings, controllability, and lifespan benefits that are already creating market disruption.”
Specifically, according to Navigant’s new white paper, advanced lighting technology revenue is expected to reach $16.9 billion in 2024.
“The public’s eventual acceptance of LEDs and the increased market penetration of organic LEDs (OLEDs) has provided a platform for flexible LED and OLED lighting sheets that will eventually create another major shift in the lighting market,” said Krystal Maxwell, research associate with Navigant Research. “These products, using a completely new form factor, have the potential to change the way lighting is experienced and ceilings, wallpaper, and windows are constructed.”
The white paper explains that “Lighting technology will soon no longer be about just seeing in the dark; rather, it will develop into a gamut of use cases and benefits” thanks to companies like Acuity Brands, Konica Minolta, LG Chem, and Philips Lighting, who are all turning lighting into something fun, functional, and efficient. LED lighting has allowed for WiFi-enabled lighting throughout your house; lighting tied to your location by way of your phone; energy savings and remote accessibility. LED lights are also finally becoming “yellow enough” to be used in street lighting, providing massive savings for councils, while new ways to connect lighting throughout office buildings — such as Cree’s SmartCast Power over Ethernet — is bringing lighting into the Internet of Things.
Smart grids are a highly sophisticated way of achieving efficiency and reliability in power distribution. At present, the power distribution network in most regions has a significant supply-demand gap, due to the steadily rising demand for electricity. This gap is most prominent in Asia Pacific, where the combination of a rapidly rising population, rising standard of living, and inefficiency in power generation and distribution has led to the demand for supplementary power and the means to eliminate the wastage of power during distribution.
The high efficiency of power distribution achieved through smart grids is the major driver impacting the global smart grid market. According to a report released recently by Transparency Market Research, the global smart grid market is expected to exhibit an 18.2% CAGR from 2013 to 2019. The market’s value at the end of this forecast period is expected to be US$118.1 bn.
Developments in India Smart Grid Week Augur Promise for Asia Pacific Smart Grid Market
Due to its high population, rapid urbanization and industrialization, and increasing living standards, India is a crucial regional segment of the global smart grids market. Despite its dynamic economy, power distribution in India is far from perfect and blackouts are frequent in much of the country. To turn this situation around, the Indian power ministry initiated a consortium of electricity utilities companies, investors, smart grid and smart city experts, called the India Smart Grid Week (ISGW), in 2015. The second edition of the ISGW, conducted recently in New Delhi, saw several promising developments, with U.K.-based companies, in particular, making their presence felt.
The support given by Indian PM Narendra Modi to the development of smart cities is also favorable for the country’s smart grid market. The two-way information sharing in smart grids will allow for fair and well-regulated electricity distribution, resulting in fewer blackouts and lowering of the overall supply-demand gap in the same. Smart grids would also make power supply more cost-effective.
ERIGrid Looking to Ease Incorporation of Smart Grids into Conventional Power Distribution Infrastructure
One of the major restraints on the global smart grid market is the difficulty in incorporating smart grid infrastructure into existing power distribution means. The difficulty in incorporating electricity gained from renewable resources, the generation of which is rising at a rapid pace, has also constrained the modernization of power distribution infrastructure.
An all-European coalition of energy specialists and research institutes has recently come together to attempt to solve just this problem. Called ERIGrid, the project was announced in early March, despite having begun in November last year. This project is headed by the Austrian Institute of Technology and includes renowned research centers such as the University of Strathclyde, the European Distributed Energy Resources Laboratories, and the Centre for Renewable Energy Sources and Savings. ERIGrid will look into the various way to develop an overarching smart grid system that can also manage significant influx of renewable energy.