Global Lighting as a Service Market, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2028

Market Overview:
The Global Lighting as a Service Market size was valued at USD 1.27 Billion in 2021 and is projected to reach USD 13.73 Billion by 2028, growing at a CAGR of 40.4% from 2022 to 2028.

The market for "lighting- as- a-service" analyzes the business model where the client does not purchase its lighting fixtures. Instead, it signs a multilayered contract that includes a flat charge for the required lights. The lighting company offers the lights, luminaries, and controls in addition to perhaps providing extra services like data analysis and financing arrangements. The lighting system is installed by independent installation companies, who are paid by the lighting company to maintain the system for the duration of the contract. The report also discusses the market expansion of various end users and how that has affected various geographical region.

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Market Dynamics:
Driver:
Lighting systems are widely used in residential and commercial structures, including malls, offices, stores, institutions, hospitals, as well as municipal and industrial sectors. By choosing lighting- as- a-service, the main issue of expensive lighting retrofit costs is resolved. Additionally, it provides financial advantages like an immediate return on investment with no up-front capital costs and government subsidiaries for the installation of lighting solutions that use less energy.

Opportunities:
The development of current technologies will offer the market wonderful prospects to grow. By 2020, over 75% of the exterior lights that are maintained by local governments will switch over to light-emitting diodes (LEDs), according to an estimate from the US Department of Energy (DOE). The market growth forecast for lighting as a service in the upcoming years is also promising. Future advancements in LED technology will further cut energy usage, creating a more favorable market for lighting- as- a-service vendors and end users. New developments in internet of things (IoT) and artificial intelligence (AI) technology are resulting in an increase in smart homes and commercial structures. In general, smart lighting is not only practical but also energy-efficient.

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In Market Segmentation On By Component, Lighting as a Service Market Report Covers:
• Software
• Luminaries & Controls
• Service

In Market Segmentation By Installation, Lighting as a Service Market Report Covers:
• Outdoor
• Indoor

In Market Segmentation By End-Use, Lighting as a Service Market Report Covers:
• Commercial
• Industrial
• Other End-Uses

Regional Analysis In The Lighting as a Service Market
North America is predicted to be the most market for lighting as a service (LaaS), followed by Western and Eastern Europe. The lighting as a service market in North America is being driven by an increase in demand for commercial launches, as LaaS has the ability to save money and reduce energy consumption globally. Eastern and Western Europe are the second leading regions due to rising commercial and industrial demand. During the projected period, the local segment is expected to have the most demand. Municipal end users include lighting provided by local governments for open public spaces, streets, bridges, public parking areas, walkways, and highways. Emerging markets such as China, India, the Philippines, Thailand, Malaysia, and Indonesia are also driving the market, with Asia-Pacific (excluding Japan) being the fastest growing region in the world.

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By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Top Key Players Covered In Lighting as a Service Market
• Igor Inc. (U.S.)
• Itelecom (Chile)
• Koninklijke Philips N.V. (Netherlands)
• General Electric Lighting (U.S.)
• Zumtobel Group AG(Austria)
• SIB Lighting (U.S.)
• Lunera Lighting (U.S.)
• Cree Inc. (U.S.)
• Future Energy Solutions (U.S.)
• Rcg Lighthouse (Latvia) and Other Major Players

Key Industry Developments In The Lighting as a Service Market
• In February 2020, US LED, the industry's top supplier of ultra-long-lasting LED lighting systems, recently introduced Light NowTM, a new Lighting as a Service (LaaS) offering. US LED will be able to give customers the option to install new LED lighting systems in their facilities with no upfront capital thanks to the launch of Lighting as a Service. This makes it possible for businesses to get new LED lighting as a monthly service agreement and avoid recording capital expenses.
• In August 2020, The smart home lighting solutions from LEDVANCE and Bosch were announced by LEDVANCE GmbH. Customers may now apply for the Bosch Smart House System even more easily thanks to the integration of LEDVANCE Smart+ products because this high-quality solution for a secure home eliminates the need for a separate bridge.

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Table Of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Component
 3.2 By Installation
 3.3 By End-Use
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: Lighting as a service Market by Component
 5.1 Lighting as a service Market Overview Snapshot and Growth Engine
 5.2 Lighting as a service Market Overview
 5.3 Software
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Software: Geographic Segmentation
 5.4 Luminaries & Controls
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Luminaries & Controls: Geographic Segmentation
 5.5 Services
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Services: Geographic Segmentation
Continue…..

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