Lighting as a Service Market Growth with Worldwide Industry Analysis to 2025
The rise of circular economy is driving business model innovation across all industries, with a key spin-off being the emergence of ‘something-as-a-service’ business model. The lighting-as-a-service (LaaS) is fast emerging as an innovative service delivery model in the lighting industry. The transition to LaaS is mainly motivated by numerous short- and long-term gains, increased cost savings, enhanced energy efficiency, and better control of resources. In addition, a large number of LaaS providers and end users can harness the capabilities of a wide array of digital analytics, with the IoT at the forefront. The lighting-as-a-service model is fast gaining traction across businesses who want to unleash the value proposition of the LED technology. Several end-use organizations, particularly government facilities, restaurants, and hospitals, seek to garner substantial cost and energy savings brought about by using LED lights. The LaaS model helps them get over expensive retrofits and avoid large upfront capital investment since they usually pay monthly subscription fees to the provider throughout the contract.
Driven by reduction in maintenance cost and a better control of lighting, restaurants and hospitals are increasingly shifting from traditional fluorescent lighting to LED lighting for all spaces. The LaaS model helps them ease installation of fixtures, negotiate monthly rates, and increase energy savings over time. Typically, LaaS providers audit the energy usage from lighting and demand a percentage of the energy cost savings for the upfront investment they make in retrofitting. Once the contract matures, buildings can own the LED lights, which further leads to sustainable benefit enjoyed by the end users. During the contract, all technological upgrades are managed by the LaaS provider, and any significant advancement may warrant for new contract; however, the end users do not need to invest any capital upfront, thereby enabling them to enjoy efficient lighting continuously.
Request a Brochure of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=1142
Lighting as a Service Market: Overview
The global lighting as a service market is displaying significant growth due to the increasing demand for energy efficient lighting systems and support from several governments for phasing out traditional lighting systems with energy efficient ones.
Lighting as a service (LaaS) refers to a service delivery model wherein light service is provided based on a subscription model rather than a one-time installation model. The basis of the idea is that manufactures install, maintain, and operate customer’s lighting systems and does not have any upfront investment for the customer.
The global lighting as a service market can be analyzed by end-user, installation, component, and region. By end-user, the market can be segmented into commercial, industrial, and municipal.
The report extensively relies on primary and secondary research sources and makes use of industry-centric databases and tools. The analysis of the report will prove to be a useful instrument for stakeholders of the global lighting as a service market.
Lighting as a Service Market: Trends and Opportunities
Worldwide, the development of smart cities is one of the major factors driving the global lighting as a services market. Some of the benefits of deploying lighting as a service include no upfront costs, lower energy conservation, no maintenance liability, improved lighting experience, and savings on energy bills. Lighting as a service also enables the ability to obtain add-on functions and systems such as remote management, data collection, and inter-device communication.
Request for TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=1142
The increasing use of IoT for the design and functioning of street lighting is also anticipated to propel the demand for lighting as a service solutions across the globe.
The commercial end-user segment is expected to present lucrative growth opportunities to this market. Lighting as a service offers energy savings and reduction in energy bills, which is attractive for commercial end users in view of increasing focus on energy conservation and sustainability.
The indoor installation segment is expected to lead in the near future retaining its dominant position as held in the recent past. The fast development of the commercial sector in developing countries is favoring the growth of the indoor segment in this market. However, the outdoor segment is expected to register fastest CAGR during the forecast period. The increasing convergence of Internet of Things (IoT) for effective street lighting solutions is the major factor behind the growth of the outdoor installation segment in this market. Outdoor installation includes street lighting, parking garages, park and recreational areas among others.
However, the abundance of low quality LED products in the market that have performance issues is posing a huge challenge to the lighting as a service market.
Read Complete Report @ https://www.tmrresearch.com/lighting-as-a-service-market
Lighting as a Service Market: Regional Overview
The lighting as a service market can be analyzed with respect to the five broad regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Amongst these, North America is the leading regional market due to the governmental support for replacing traditional lighting systems with energy efficient lighting systems. The region is closely followed by Europe.
Lighting as a Service Market: Competitive Landscape
Some of the key companies in the global lighting as a service market include Koninklijke Philips N.V., Zumtobel Group AG, Lunera Lighting, Itelecom, General Electric Lighting, SIB Lighting, Igor Inc., and Cree Inc. The top players are focused on contracts and agreements, partnerships and collaborations, and investments and expansions in order to gain a competitive advantage and translate into business growth.
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in todayâ€™s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clientsâ€™ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.
Head - Internet Marketing
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lighting as a Service Market Growth with Worldwide Industry Analysis to 2025 here
News-ID: 505615 • Views: 184
More Releases from TMR Research
Global Private LTE Market Analysis by Market Key Player, Product Application & G …
Global Private LTE Market: Overview The global private LTE market likely to registers significant growth during the course of forecast period from the period between 2018 till 2028. Moreover, this network provides the better alternatives of the public networks on account of high operational efficiency, low cost deployment and improved business application in terms of security. The private LTE market also provide more capacity and coverage and has facility to modify
Crude Sulfate Turpentine Market 2025 Harting S.A., Arizona Chemical Company LLC, …
Global Crude Sulfate Turpentine Market: Snapshot The global market for crude sulfate turpentine is growing at a robust pace and is likely to witness significant growth in the coming years. The increasing use of crude sulfate turpentine in diverse applications is expected to encourage the growth of the global market in the coming years. In addition, the rising demand for high-value products for personal care, especially in developing economies is likely
Wood Vinegar Market 2017 Analysis, Growth, Vendors, Shares, Drivers, Challenges …
Global Wood Vinegar Market: Snapshot Pyroligneous acid, commonly known as wood vinegar, is created from wood and plant materials, using a process known as destructive distillation. The core ingredients of wood vinegar include acetone, methanol, and acetic acid, and was historically used to produce acetic acid on large scales. Currently, the scope of use of wood vinegar stretches across a large number of application segments. One of the more common uses
Meat Processing Equipment Market 2025 | Key Technology Inc., JBT Corporation, Ma …
Global Meat Processing Equipment Market: Snapshot Changing food preferences, lifestyles, tastes, and habits of the global population have bolstered the growth of the market for meat processing equipment. Developing economies such as China and India have been exhibiting enormous demand for meat over the last few decades. Industrialization, growing urbanization, Western influence on the food habits of Eastern consumers, and the growing disposable incomes of people have offset the growth of
More Releases for Lighting
LED Lighting Optics Market
“Global LED Lighting Optics Market Insights, Forecast to 2025” This report researches the worldwide LED Lighting Optics Market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategies. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor
Global Train Lighting
“Global Train Lighting Industry Report" is an expert and in-depth analysis of key business and future development prospects, key determinants and restrictions, profiles of major market players, segmentation and forecasting. In this report, the global Train Lighting market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025. You can
Global Track Lighting Market Forecast 2018-2025 Intense Lighting, AFX INC, Nora …
Survey Track Lighting Market 2018 A market study "Global Track Lighting Market" examines the performance of the Track Lighting market 2018. It encloses an in-depth Research of the Track Lighting market state and the competitive landscape globally. This report analyzes the potential of Track Lighting market in the present and the future prospects from various angles in detail. The Global Track Lighting Market 2018 report includes Track Lighting market Revenue, market Share,
LED Lighting Dominates Public Street Lighting Strategy
Street lighting is central to an urban centre’s infrastructure. The City of Ryde in NSW is currently undertaking LED retrofit projects with smart control LED technology. The technology is proving to be superior to older lighting technologies in reducing energy consumption and improving lighting management. Moving away from outdated technologies towards smart-controlled LED lighting yields a whole host of benefits from helping cities to save on lighting expenditure, improving lighting
Explosion Proof Lighting Market 2017 - GE Lighting, Hatch Transformers, Osram Sy …
The Global Explosion Proof Lighting Market 2017 Industry Research Report focused on global and regional market, major manufacturers, as well as the current state of the Explosion Proof Lighting industry. First, "Global Explosion Proof Lighting Industry 2017" report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy, news analysis and Explosion Proof Lighting industry chain structure. Major Companies Covered in this report:- GE Lighting Hatch Transformers Osram Sylvania Philips Lighting
National Lighting Introduce New Architectural Lighting Range
London, United Kingdom (18 February 2011) - National Lighting, a leading e-retailer of architectural, commercial, office, shop and trade lighting solutions, are now retailing a brand new collection of architectural lighting solutions. With the introduction of the new architectural lighting range comes a doubling in the amount of products available from National Lighting; with over 3,500 interior and exterior lighting options now featured on their website, all purpose-built for rooms of