The $112 billion global lighting market is undergoing a rapid transformation driven by technological change and the rules of the game continue to change for players across the industry. The Boston Consulting Group recently identified two powerful shifts: the move toward LED lighting and the growing adoption of connected lighting systems. These trends, which reinforce one another, are fundamentally altering the underlying economics and dynamics of the market. As a result, companies across the complex lighting ecosystem must evaluate where they can compete effectively amid the changes and adopt new strategies to succeed in the future. A recent report by Memoori, The Lighting Controls Business 2015 to 2020, suggested that this is the most exciting time for the lighting industry since the early twentieth century. “Lighting is truly at an inflection point and the forthcoming shakeout over the next 5 years will determine the winners and losers in the game; as well as those who […]