The current coronavirus pandemic has had an impact on just about every industry in the world, including the global LED industry, which has reduced the market demand by almost ten percent year on year. It is expected that the demand will rise again in 2021, as lockdowns are eased and people start returning to work. The long-term forecast for this year, the LED industry is expected to reach $15.7 billion with a 3.8% increase.

The demand will vary in each application-specific industry, as there are so many different LED applications from backlighting in consumer electronics to LED display panels. The LED backlighting market has already seen an increase in demand in Q1 2021 and this is expected to follow in other aspects of LED around the world in the coming months.

As for general lighting applications, cutbacks were seen as companies were forced to close their doors for extended periods, with teams working from home offices. The LED lighting industry saw over 9% decrease in 2021, but VGI Solutions Sales and Marketing Manager, Petra Genco said “We are expecting a recovery this year to get us back to pre-pandemic levels as more companies return to work and the demand for quality LED lighting applications gets back into full swing, helping companies save money on their energy consumption with high quality, bright and direct lighting solutions.”

Interestingly, with the legalization of CBD for medical use in the United Kingdom, the LED lighting industry is seeing a higher demand for horticultural LEDs. This is just one of how the LED lighting industry is recovering this year. It is expected to return to at least $2.6 billion this year.

VGI Solutions continues to remain a leading LED lighting company in Surrey, as demand for quality LED lighting products returns to normal, as more companies open their doors in line with the slow easing of the national lockdown levels. The VGI Solutions team is excited about the future and is expecting a full recovery in the coming months.

About Us: VGI Solutions is a leading electrical, fire, gate, and security specialist based in the United Kingdom catering to clients across London, Surrey, and the South East. This company is backed by more than twenty-five years of experience providing clients with top-quality security, fire alarm, gate and automation, and maintenance, testing, and servicing. They also provide a full range of electrical services including LED lighting, emergency lighting, and automatic smoke opening vents. VGI Solutions works closely with contractors, property managers, builders, developers, private estates, and industrial clients across London, Surrey, and South East. Full details can be found at https://www.vgisolutions.co.uk/.