High bay lighting technology offers effective and efficient illumination of indoor spaces such as factories, warehouses, among several others. The increasing awareness of achieving energy efficiency in industrial and commercial operations has resulted in market development for such technology.
High bay lights are lighting products intended to be used in industrial and commercial areas with ceiling heights of fifteen feet or more. Presently the warehouses, factories, storage facilities among others are lit by high wattage fixtures which consume lot of energy. High bay lights are designed using various lighting technologies such as Light-emitting diode (LED), fluorescent lamps, high intensity discharge lights, and induction lights among several others. Inclusion of such technologies in making high bay lights help in cutting energy consumption. The high intensity discharge lamps use pressurized arc discharge to produce lights. Induction devices are electrode-less lamps that use magnetic induction technology to illuminate. Such lighting products illuminate areas from far afield and reduce glare and contrast.
The advantages of using high bay lighting devices serve to be the key drivers for their market development. The energy saving capability of such devices results in minimizing the electricity bills. The energy deficient nations are going for demand side management program to optimize their energy efficiency. Hence, usage of such lights in commercial and industrial appliances helps significantly to achieve demand side management. Financial benefits such as low operational costs of such devices and short payback period tend to drive up the demand for such lights. The advancement in technology of such lights by incorporating networked communications, sensors, and several others enhance their reduction in energy consumption and functionality. In addition using of such lights ensures safety in hazardous environment. The factor intervening in the market growth of high bay lighting technology is its high upfront cost.
The rising energy prices and the importance of optimizing energy efficiency contribute to high bay lighting market development. The North America followed by Asia pacific is expected to occupy major share in the global high bay lighting market due to improved infrastructural developments occurring in such regions. In addition growth in manufacturing facilities in China and India is also assumed to result in progression of such lighting market in Asia Pacific region. Europe’s slow recovery from economic recession is likely to offer gradual development of high bay lighting market. In rest of the world the high bay lighting market is estimated to experience advancement due to upcoming commercial buildings such as shopping malls.
The high bay lighting market segmentation is done on end product types basis. Such lights are designed to suite various uses, facility sizes, management structures and numerous other criteria. The important end-user segments for such technology market include sport facilities, industries, warehouses such as commercial and retail warehouse, garages, and transportation lightings. In sports facilities LED fixtures are used to meet the challenges of large spaces, changing light usage patterns to support the athletic activities. Bright lighting devices with low power requirement are preferred in manufacturing facilities to sustain the complex manufacturing operations. The lighting devices which guarantee clean and controllable light levels are apt option for transportation facilities. With right amount of light illuminating the critical work areas such facilities can move safely.
Some of the key players in high bay lighting market are Cree, Inc., General Electric Company, Koninklijke Philips N.V., and Digital Lumens, Inc.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.