Lighting-as-a-Service Market 2018 Global Key Players: General Electric Lighting, Zumtobel Group AG, SIB Lighting, Lunera Lighting, Itelecom, UrbanVolt, Sparkfund, RCG Lighthouse, Metrus Energy, Enlighted Etc.
Lighting-as-a-Service (LaaS) refers to the lighting system management services that are outsourced to a third-party. The outsourced services include design and installation, other technical requirement, and maintenance. It also includes the recycling or disposal of the related lighting tools and equipment at the end of its life. This model not just provides lighting system that meet the government mandates and standards but also enables the commercial space to remain updated with the latest lighting technology. To cater to the needs of the end-users rather than one-time payment method, the market players offer subscription model to deliver these services.
Lighting-as-a-service market is expected to grow from USD 78.37 million in 2017 to USD 814.59 million by 2023, at a compound annual growth rate (CAGR) of 47.73% during the forecast period. The growing need energy efficient lighting, increased cost savings, spread of Internet of Things (IoT) to design smart, sustainable and connected lighting systems are some of the factors driving the growth of lighting-as-a-service market.
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The prominent players in the lighting-as-a-service market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are Koninklijke Philips N.V. (Netherlands), General Electric Lighting (US), Zumtobel Group AG (Austria), SIB Lighting (US), Lunera Lighting (US), Igor Inc. (US), Itelecom (Chile), Cree Inc. (US), Valoya Oy (Finland), UrbanVolt (Ireland), Sparkfund (US), RCG Lighthouse (Latvia), Metrus Energy, Inc. (US), and Enlighted Inc. (US).
Lighting-as-a-service market is segmented based on component, installation, application, and region.
Based on the component, the market is segmented into luminaries & controls, software, and services.
By installation, the market is bifurcated into indoor and outdoor.
Based on application, the market is segmented into commercial, industrial, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
Favorable government regulations for switching to energy efficient lighting and developing Lumiere infrastructure offer ample opportunities to the market players. Key players are adopting strategies such as contracts & agreements, partnerships & collaborations, and investments & expansions to increase their shares in the global lighting-as-a-service market. XX% of the total company developments were a part of partnership & collaboration whereas, contracts & agreements accounted for the largest XX% of the total strategic developments adopted by the key players in the market.
Brief TOC Of Lighting-as-a-Service Market
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
3.5 Assumptions & Limitations
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Lighting-As-A-Service Market
5 Market Overview Of Global Lighting-As-A-Service Market
5.2 Market Dynamics
6 Market Alerts
6.2 Technological Innovation
6.3 Impact Analysis
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