Market Share of Commercial Lighting Industry
There is intense competition among major vendors in the market. Due to a broad range of suppliers of commercial lighting products, buyers can choose from numerous vendors, creating cut-throat competition among vendors of equal caliber in product portfolio and geographical reach. Further, companies are innovating in terms of various connected lighting products. Players like Wipro and Signify are trying to provide smart lighting products for commercial applications like retail, hospitals, etc.
In June 2022, Wipro Lighting announced the establishment of a new business unit integrating Commercial Lighting and Seating solutions. Utilizing Wipro's shared dealership network and providing customer service, the new entity was established to provide better alliances and expedite growth.
In January 2022, Acuity Brands, Inc., a prominent industrial technology company, announced that it is expanding its partnership with Microsoft to bring new capabilities to Acuity Brands' bright lighting, building automation solutions, and lighting controls. By integrating the power of Microsoft's Cloud for Sustainability and Microsoft Azure IoT with Acuity Brands customer solutions, Acuity Brands and Microsoft would jointly facilitate end customers, operating numerous types of facilities and buildings, to calculate and forecast the environmental and financial impacts that these new lighting and building management technologies deliver.
Commercial Lighting Market Leaders
ABB Ltd
Honeywell LED Lighting
Wipro Lighting Limited
Signify NV (Philips Lighting)
WAC Lighting
*Disclaimer: Major Players sorted in no particular order
