The industry is optimistic about the market this year
HONG KONG, Apr 9, 2024 - (ACN Newswire) - Organised by the Hong Kong Trade Development Council (HKTDC), the inaugural Smart Lighting Expo and 15th Hong Kong International Lighting Fair (Spring Edition) (Spring Lighting Fair) concluded successfully today. The twin lighting fairs welcomed some 16,000 buyers from 107 countries and regions, making a strong start to the HKTDC technology fairs in April.
Sophia Chong, Deputy Executive Director of the HKTDC, said: "As one of the partner events of the Business of Innovation & Technology Week (BITWeek), the inaugural Smart Lighting Expo and the 15th Hong Kong International Lighting Fair (Spring Edition) attracted not only buyers in Hong Kong but those from Mainland China, Australia, India, Japan, Korea, the Philippines, Russia and the United States, a testimony to the fairs' internationality. The two lighting fairs brought enormous business opportunities to those in the industry and served as an ideal platform for exchanging ideas on the latest market development and trends.
"An exciting line-up of mega events will captivate visitors one after another, with the HKTDC launching the four-day InnoEX and Hong Kong Electronics Fair (Spring Edition) this Saturday (13 April) following the successful conclusion of the lighting fairs. We will also organise a series of lifestyle fairs later this month, including Fashion InStyle, Home InStyle, Hong Kong Gifts & Premium Fair, Hong Kong International Printing & Packaging Fair, the brand-new Deluxe Printpack Hong Kong and Hong Kong International Licensing Show, poised to foster economic development in Hong Kong across different industries."
Smart lighting products unlock unlimited potential
An on-site survey of 507 exhibitors and buyers found 63% anticipated higher sales in the next 12 to 24 months while 35% expected stable sales, a testimony to optimism in the lighting market. Other key findings are as follows:
Market outlook and product trends:
- Respondents considered the North America (62%), Mainland China (59.7%), ASEAN countries (59.6%) and Northern & Western Europe (55%) to be promising lighting markets over the next two years in terms of growth.
- For the industry overall, household lighting systems that are compatible with or can be controlled by smart phone/tablet applications (40%), smart lighting systems primarily geared for energy-saving for household/industrial/commercial purposes (38%) and household lighting systems that are connected to or compatible with the Internet (27%) were considered to have the greatest market potential.
- Respondents named home automation and smart lighting control systems (46%), energy-efficient lighting control solutions (37%) and outdoor smart security lighting systems (22%) as having the biggest potential for smart lighting.
- Respondents revealed that consumers would be willing to pay an average premium of 24% for smart-lighting products.
Participants applaud robust trading opportunities
Organised under the theme Bright Lighting - Smart Living, the lighting fairs attracted over 1,300 exhibitors and featured a diverse array of innovative lighting products and technologies ranging from sustainable and human-centric lighting to fashionable lighting products.
Among zones, the Smart Ecosystem and IoT Supply Chain Area in the Smart Lighting Expo and the Hall of Aurora in the Spring Lighting Fair captured the attention of many buyers.
Trading at the twin shows was promising. Mars Lee, CEO of Zhongshan OBALS Lighting Electric Co., Ltd., said: "The debut Smart Lighting Expo is a good platform to promote our customised smart lighting products and apps targeting high spending markets in Australia and Europe. We are so happy that on the first day of the fair, multiple buyers from Australia and Europe have placed orders for our smart lighting control systems, track lights, downlights and linear lights worth RMB3.8 million [US$525,000] in total. We are very satisfied with the results and have already signed up for next year's Smart Lighting Expo."
Orachat Leingpeboon, Vice President Smart City Promotion, Digital Economy Promotion Agency (DEPA) from Thailand, visited the Smart Lighting Expo and said: "I am here to see the latest smart lighting solutions, energy-saving and eco-friendly products for smart city development projects in Thailand. I'll provide my suggestions to related government departments and bridge the supply and demand sides. At the Expo, I have seen new and interesting technologies such as solar wrap poles, smart home solutions and horticultural lighting. I'll share these new technology updates with related government departments and the public in a webinar in Thailand. I'll recommend the twin fairs to the Department of Alternative Energy Development & Efficiency and the Illuminating Engineering Association of Thailand too."
At the Spring Lighting Fair, a loyal exhibitor from Hong Kong, Walter Zeng, Product Manager of KTE Electrical Ltd., said: "On the first fair day, we have talked to more than 200 overseas buyers mainly from Europe. The HKTDC's Click2Match platform also provides extra opportunities for us to find new buyers and we have already set up at least three online meetings. We estimate that our sales turnover generated by this fair will surge by 50-80%."
Firat Kendal Aksoy, General Manager of Kendal Elektrik from Turkiye, said: "We visit the Spring Lighting Fair regularly to source new products and close deals with existing suppliers. This year, I have found three potential suppliers of magnetic track lights, solar lights, desk lamps, new designs for cabinet lights and spotlights. I have already finalised my orders with two suppliers for a total of US$1.5 million worth of LED bulbs, floodlights and ceiling lights. I am going to close another eight to nine deals during the fair period. The Scan2Match function allows me to bookmark favourite suppliers in the HKTDC Marketplace App and know more about their new products."
Under the hybrid EXHIBITION+ model, the twin lighting fairs combined in-person sourcing with online meetings via the HKTDC's Click2Match smart business-matching platform and hktdc.com sourcing platform. Click2Match will be available until 16 April to facilitate discussions between exhibitors and buyers around the world.
InnoEX and Spring Electronics Fair to launch this weekend
The second edition of InnoEX, co-organised by the Innovation, Technology and Industry Bureau of the Hong Kong Special Administrative Region (HKSAR) Government and HKTDC, will return to the Hong Kong Convention and Exhibition Centre on 13 April. The four-day exhibition, themed Innovations for A Smarter World, will gather global next-generation smart solutions and disruptive innovative technologies to promote innovation and foster cross-disciplinary cooperation, showcasing Hong Kong's strengths as an international innovation and technology (I&T) hub. To be staged concurrently, the Hong Kong Electronics Fair (Spring Edition) will showcase the latest electronic products and cutting-edge I&T solutions of renowned brands and I&T companies across the globe.
Photo Download: https://bit.ly/49sHoiT
Fair websites
Hong Kong International Lighting Fair (Spring Edition): hklightingfairse.hktdc.com
Smart Lighting Expo: smartlightingexpo.hktdc.com
InnoEx: innoex.hktdc.com
Hong Kong Electronics Fair (Spring Edition): hkelectronicsfairse.hktdc.com
HKTDC Media Centre: https://mediaroom.hktdc.com/en
Media enquiries
The HKTDC's Communications and Public Affairs Department:
Jane Cheung
Tel: (852) 2584 4137
Email: jane.mh.cheung@hktdc.org
The HKTDC's Media Room: http://mediaroom.hktdc.com/en
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Source: HKTDC
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