Landscape lighting is dazzling, LED displays become economic potential stocks during the Spring Festival

The China Tourism Academy's "2023 China Nighttime Economic Development Report" shows that the size of the night tour market in 2023 has reached 1.57 trillion yuan, and the willingness to travel at night has reached 95%. Relying on their own characteristics, various regions frequently come up with new ideas in nighttime economic activities and products, providing people with a wealth of consumption choices. The night economy has increasingly become an important engine to drive consumption growth. While creating huge economic benefits for the city, the nighttime economy can also show the unique charm of the city. The Spring Festival holiday is approaching, and the returnees will get a short break from the fast-paced life and high-intensity work, and their consumption potential will be effectively released after the emotional relief. It can be predicted that the Spring Festival holiday as a consumption season, it is a good time to develop the nighttime economy, and the related LED landscape lighting market should be one of the potential stocks of the Spring Festival economy.

The nighttime economy, as a characteristic consumption model that promotes consumption, stimulate vitality, and expands scenes, continues to heat up in cities bursting with vitality. As people's quality requirements for consumer goods improve and consumer demand differentiation continues to increase, people are no longer satisfied with the traditional night-time economy. Looking back on 2023, the cultural tourism night tourism market has gradually recovered under the influence of the general environment. Each city has systematically promoted night-time economic planning and layout, scene construction, business format cultivation, brand building and innovation and upgrading based on regional characteristics and public needs. Night tours, night entertainment, night reading... new scenes, new business formats, and new trends emerge one after another, and the "night economy" has unlimited vitality. On the one hand, the city's commerce, transportation, tourism and other related industries have been efficiently integrated and developed together; on the other hand, the city's humanistic atmosphere and cultural heritage have also been further released in the night economy model. In addition, with the continuous advancement of urban infrastructure and smart city construction, the demand for landscape lighting industry, which is closely related to the cultural tourism industry, has increased sharply.

Data show that due to the impact of the global epidemic in 2020, the issuance of stay-at-home policies reduced the number of Chinese tourists and tourist attractions were severely affected. In 2021, the scale of China's landscape lighting market gradually recovered, with a market size of 91.65 billion yuan, an increase of 27.28%. Good landscape lighting can effectively stimulate the cultural tourism industry and the night-time economy. Driven by the development of the night-time economy, the landscape lighting market demand will quickly recover. In 2027, the output value of China’s landscape lighting industry is expected to exceed 150 billion yuan, with a compound annual growth rate of approximately 12%.

Consumer demand has also put forward higher requirements for landscape lighting. Various places are creating innovative light shows, music and light fountains and other projects, combining landscapes to create high-quality landscape dramas to attract tourists. Projects such as "Tian Niang" in Kweichow Moutai Town, "Shui Yun" in Chengdu Tianfu, and "Artificial Moon" in Panzhou Moon Mountain Scenic Area built by LED display companies not only announce the depth of LED display companies' expansion into the landscape lighting market, but also Because of the large-scale use of LED displays, landscape lighting has unique connotations. At the same time, relying on the transformation and upgrading of urban business districts, the landscape lighting business formats are enriched, and the iconic business districts built with LED displays, incorporating fashion elements such as super naked-eye 3D large screens and Internet celebrity check-ins, have also become a major customer attraction tool.