Press release
Global Lighting as a Service Market Size, Trends and Forecast to 2028
Over the last few years, facility management has faced a major disruption with the increasing demand for energy-efficient lighting. In developed countries, there is a gradual decrease in the use of conventional lighting. For example, the US has eclipsed conventional lighting since the Energy Independence and Security Act (EISA) was passed in 2007. The LED lighting market has become vital to meet the EISA energy standard. Lighting as a Service (LaaS) is an emerging technology service trend, where a business or customer pays a monthly rent to the lighting service providers.
The global Lightning as a Service market was valued at US$ 173.7 million in the year 2018 and is expected to reach US$ 844.6 million by the year 2023, growing at a CAGR of approximately 37.2%. The LaaS market is driven by factors such as less than minimum capital cost model & financial benefits, coupled with government policies related to the adoption of energy-efficient lightings. However, the quality issues with LED products are restraining the growth of the market.
The lighting industry is facing disruptions due to the shift from conventional lighting to energy-efficient lighting. Owing to this change in the industry, LED lighting has become more popular for business uses. The unreliability of conventional lighting is propelling the adoption of LaaS products.
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The lighting as a service market is segmented on the basis of components, installation, and end-user. Based on installation, the indoor segment of the market accounts for a larger share due to the increasing demand for LaaS from the commercial sector. Geographically, North America is holding the largest share in the market, owing to government regulations on the adoption of energy-efficient lighting.
Table Of Content
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology
1.4 Market Segmentation Scope
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Market Dynamics
2.4 Premium Insights
Chapter 3 Market Dynamics
3.1 Market Overview
3.2 Market Drivers
3.3 Market Restraints
3.4 Market Opportunities
3.5 Industry Value Chain Analysis
3.6 Industry SWOT Analysis
Chapter 4 Global Lighting as a Service Market, by Components
4.1 Market Overview, by Components
4.2 Luminaire & Control Equipment
4.3 Software & Communication System
4.4 Maintenance & Other Services
Chapter 5 Global Lighting as a Service Market, by Installation
5.1 Market Overview, by Installation
5.2 Indoor
5.3 Outdoor
Chapter 6 Global Lighting as a Service Market, by End-user
6.1 Market Overview, by End-user
6.2 Commercial
6.3 Municipal
6.4 Industrial
Chapter 7 Global Lighting as a Service Market, by Region
7.1 Market Overview, by Region
7.2 Attractive Investment Opportunity, by Region, 2018
7.3 North America Lighting as a Service Market
7.4 Europe Lighting as a Service Market
7.5 Asia Pacific Lighting as a Service Market
7.6 Rest of The World Lighting as a Service Market
Chapter 8 Competitive Intelligence
8.1 Introduction
8.2 Players Evaluated During the Study
8.3 Market Players Present in Market Life Cycle
8.4 Top 5 Players Comparison
8.5 Market Positioning of Key Players, 2018
8.6 Market Players Mapping
8.7 Strategies Adopted by Key Market Players
8.8 Recent Developments in the Market
8.9 Operational Efficiency Comparison by Key Players
Chapter 9 Company Profiles
9.1 Koninklijke Philips N.V
9.2 Cooper Industries Inc.
9.3 SIB Lighting
9.4 Cree Inc.
9.5 RCG Lighthouse
9.6 Digital Lumens Inc.
9.7 Igor Inc
9.8 Lutron Electronics Company Inc.
9.9 Future Energy Solutions
9.10 Lunera Lighting
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