In the era of LED lighting, traditional lighting brands have continued to control the market’s developments, reported PIDA. Lighting giant Royal Philips (Philips) slashed 2-packed LED bulb prices to US $4.97 on April 22, 2015. A single bulb price during the promotion period that lasted till July was about $2.49 per bulb, reported Chinese-language media Money DJ.com.

The prices of the 8.5W bulbs with 800 lumen output (equivalent to 60W incandescent bulbs) prices returned to $3.97 per bulb in July 2015. Other large manufacturers including GE have also released bargain 3-packed LED bulbs for US $10. Cree’s single LED bulbs were also priced at US $6.97, indicating only the fittest can survive in the industry.

Global lighting giant Philips has taken the lead in driving down LED bulb prices, which urged manufacturers in the supply chain to lower production costs, said Taiwan’s Photonics Technology and Industry Development Association (PIDA). To meet the challenges of the low LED bulb factory prices of under US $1, major Taiwanese LED manufacturers including Everlight and Unity Opto will be striving to survive in the intensely competitive market. However, plenty of smaller manufacturers will be eliminated from the market.

Additionally, LED light sources started to enter the lighting market in the form of bulbs and spotlights, which are highly capable of replacing traditional lights. As a result LED package production value, and applications in lighting have quickly risen, but this is also a sector where price wars have been most intense. It is estimated by 2018, LED luminaires will have a market share of more than 50%. On the other hand, daylight running lamps (DRL) in automotive lighting applications has risen steadily, as countries across the globe begin to adjust their regulations to incorporate smart automotive lighting.