In 2023 the revenues of the top ten manufacturers fell 5% y-o-y.
A return to growth in demand is expected in Q2 2024
In Q3, the top ten lighting companies’ combined revenues reached $5.2 billion, a slight QoQ increase of 0.8%.
Signify, Acuity Brands and Panasonic lead the top three, collectively accounting for about 63% of the total revenue.
Except for the swap in rankings between LEDVANCE and MLS Lighting with Panasonic, the rest maintained their positions from previous quarters.
