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Lighting-as-a-service Market to 2027- Global Analysis and Forecasts by Components, Installation, End-User

Press release   •   Apr 21, 2019 16:29 IST

Global Lighting-as-a-service Market

Lighting as a service (LaaS) is an all-inclusive subscription based pricing model geared at making LED lighting a potential option for any facility manager, business owner, or service manager. LaaS as the third-party management of a lighting system, includes additional maintenance, technical, financial, or operational services. This business model has become more common in commercial and citywide installations of LED lights, specifically in retrofitting buildings and outdoor facilities, with the aim of reducing installation costs. 

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Some of the leading players in global market: Cree Inc., Eaton Corporation plc, Future Energy Solutions, Igor Inc., Itelecom USA, Koninklijke Philips N.V., Lunera Lighting, RCG Lighthouse, SIB Lighting, Zumtobel Group AG

The Lighting as a service market is anticipated to grow owing to driving factors such as improved financial benefits and government policies & regulations for adoption of energy-efficient lighting systems. Moreover, the factors such as convergence of IoT with lighting systems and development of smart cities are expected to propel the market growth in the coming years. However, lack of awareness about the value of a service oriented model of lighting is expected to hinder Lighting as a service market growth.

The global Lighting-as-a-service market is segmented on the basis of component, installation, and end-user. Based on component, the market is segmented as luminaries & control equipment, software's & communication systems, and maintenance & other services. Further, based on installation, the market is divided into indoor and outdoor. Furthermore, on basis of end-user, market is segmented as office, retail, education, healthcare, hotels & restaurants, institutional/assembly, warehouse, and transport.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Lighting-as-a-service market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Lighting-as-a-service market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Lighting-as-a-service market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Lighting-as-a-service market in these regions.

The reports cover key developments in the Lighting-as-a-service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Lighting-as-a-service market are anticipated to lucrative growth opportunities in the future with the rising demand for Lighting-as-a-service in the global market. Below mentioned is the list of few companies engaged in the Lighting-as-a-service market. 

The report also includes the profiles of key Lighting-as-a-service companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

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