The top three players in the , namely Philips Lighting Holding B.V., Eaton, and General Electric Company, accounted for nearly 83% of the overall market in 2015, with Philips and Eaton holding an almost similar percentage of shares. Despite this, the presence of numerous small-sized local players, especially in China, has been giving large, international vendors stiff competition, Transparency Market Research (TMR) has found.
“Smart lighting technology has emerged as a leading opportunity for companies in the energy-efficient warehouse lighting market,” the author of the study states. Smart lighting has the ability to reduce overall energy consumption, which is making it an attractive investment for warehouse owners. As end users become informed about the benefits of automated smart lighting systems, together with modern CFL, LED, and OLED lamps, their sales are expected to rise.