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Lighting as a Service Market Set to Explode in The Coming Years | Digital Lumens, Eaton, Future Energy Solutions, SIB Lighting, Cree Inc., RCG Lighthouse, Lutron Electronics Co.

11-12-2019 10:42 AM CET | IT, New Media & Software

Press release from: Global Market Insights

Lighting as a Service Market

Lighting as a Service Market

The Global Lighting as a Service Market Report 2019 – 2025 analyzes the important factors of this market based on present industry situations, market demands, business strategies utilized by the market players and their growth synopsis. This report divides based on the key players, type, application and regions are mentioned below.

Another major driving force for the Lighting as a Service market is the advantage of ownership of the infrastructure. As LaaS is not a lease, enterprises will be owners of the new lighting system once the original installation cost is covered. This option is especially beneficial for small enterprises that cannot afford lease or loan facilities for an infrastructure upgrade, making Lighting as a Service an attractive option for them.

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The Lighting as a Service market is currently in its nascent stage and the lack of awareness by enterprises has hindered its growth. However, the integration of IoT with LaaS is expected to create opportunities in the market. With IoT-based Lighting as a Service systems, employees can personalize lighting and temperature at their workspaces using a smartphone app, creating a better work environment. The IoT-based LaaS will also help facility managers track usage patterns of lights, reducing them where not required and significantly decreasing the building’s carbon footprint.

North America is the leading region in the Lighting as a Service market. The rapid development of smart cities in the U.S. has surged the need for energy-efficient lighting systems. Nearly 40% of a city’s energy budget in the U.S. is consumed by street lighting and LaaS-based efficient lighting can save up to 50% of these costs, making it an attractive option for several U.S. Municipal corporations. The growing demand for energy-saving lighting solutions by large warehouses and manufacturing units in the U.S. has also accelerated the adoption of these types of services.

Some of the major players operating the Lighting as a Service market are Digital Lumens, Eaton, Future Energy Solutions, SIB Lighting, Cree Inc., RCG Lighthouse, Lutron Electronics Co., Lunera, General Electric Company, Osram Licht Ag, Itelecom, Igor Inc, UltraVolt, and Koninklijke Philips N.V. With the market still being in its early stages, LaaS providers are investing in R&D for integrating IoT-based lighting and improving the efficiency of semiconductor chips in LED lights. In 2017, Cisco invested in R&D development of NuLED, an American manufacturer of low-voltage LEDs, for app-based lighting controls of its server rooms.

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Lighting as a Service Market, By End User, 2014-2025 (USD Million)

• Commercial
• Municipal
• Industrial

Lighting as a Service Market Market, By Installation, 2014-2025 (USD Million)

• Indoor
• Outdoor

Market, By Component, 2014-2025 (USD Million)

• Luminaire and Control Equipment
• Software and Communication System
• Maintenance and Other Services

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, Application, renewable energy and bio Application.

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