Safety is an important parameter for industrial set-ups such as plants, warehouses, and distribution centers. Hence, industrial lighting plays a key role in maintaining adequate illumination and enhancing productivity. The application areas of industrial lighting included in the study are warehouse & cold storage, factory & production lines, outer premises, parking areas, hazardous locations, and others."

Visionary leaders are the leading market players in terms of product portfolio, geographic reach, innovative technologies, and adoption of growth strategies. The SWIR market is moderately dominated by the players covering a major share of the market. These players have a broad product portfolio that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

These are established vendors with strong business strategies. However, they have a weak service portfolio. They generally focus on a specific type of technology related to the product. Most of the dynamic players are classified under tier 2 and tier 3 companies that have presence in various regions globally.

Innovators demonstrate substantial product innovations compared with their competitors. They have a focused service portfolio. However, they do not have strong growth strategies for their overall business.

Emerging vendors are those that have niche service offerings and are starting to gain their position in the market. They do not have strong business strategies compared with other established vendors. They might be new entrants in the market and require some more time before getting significant traction in the market.