The lighting market is on a clear transition path from traditional lighting technologies to LED and the adoption of connected lighting systems. These trends, which reinforce one another, are fundamentally altering the underlying economics and dynamics of the market. Existing players are scrambling to adapt while new players – such as manufacturers in Asia and companies that market private-label products – are entering the fray. Attractive new product markets are emerging such as the outdoor market. The advantages conferred by scale are withering in some segments but growing in others.
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