The growth of the market is attributed to the increasing demand of energy efficient lighting systems as well as implementation of Internet of Things (IoT) with lighting services.
The global Lighting as a Service (LaaS) Market is projected to reach USD 6.28 billion by 2027, according to a recent report by Emergen Research. The primary driver for the market includes the increasing demand for economical lighting systems. The growing convergence of the technology equipped with Internet of Things (IoT) within the lighting system includes a lower consumption of energy across numerous elements of the planet.
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Key Highlights From The Report
- Lighting accounts for nearly 90% of electricity usage in households and 18-40% of economic premises. There’s a growing would like for energy saving across the world, making scope for the market. It’s expected that the transition to energy-efficient lighting would scale back the world electricity demand for lighting by 30-40% in 2030. With half of less energy consumption, diode lights are likely to supply brighter, clearer lightweight while not the glint that usually irritates the second cranial nerve resulting in worker complaints regarding headaches and fatigue. in addition, diode lights contain NO venturesome materials, do not flicker or stroboscope.
- Countries across the planet are widely adopting diode lighting. as an example, the big apple planned to switch 250,000 streetlights with LEDs, that was to be followed by the replacement of ornamental lights within the urban areas. Barcelona (Spain) deployed over 3,200 good streetlights supported by diode technology, gathering info regarding pollution, noise, humidity, and also the overall surroundings. Moreover, the United States of America Department of Energy (DOE) anticipates that, by 2020, over 76% of the outside luminaire shipments are going to be light-emitting diodes (LEDs).
- Key participants General Electric, Future Energy Solutions, UrbanVolt, Igor Inc., Valoya Oy, SIB Lighting and Lunera Lighting among others.
The report categorizes the market into different key segments based on types and applications, along with key regional segmentation. The report offers insights into the segment expected to garner traction during the forecast period, and the region expected to dominate the market in the coming years.
For the purpose of this report, Emergen Research has segmented into the global Lighting as a Service Market on the basis of component, installation, application and region:
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Luminaries and Controls
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Installation Outlook (Revenue, USD Billion; 2017-2027)
Key Geographies Encompassed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Germany, Italy, France, Rest of EU)
- AsiaPacific (India, Japan, China, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Elucidating the competitive scenario of the Global Lighting as a Service Market:
- The comprehensive global Lighting as a Service market analysis includes meaningful insights into the competitive spectrum of this business sphere. It goes on to enlist the detailed profiles of each market competitor.
- The latest report includes the industry share, production facilities, development prospects, and geographies served by each market player.
- The study also showcases the extensive product portfolios of the prominent market contenders and offers critical data and information about the application scope, as well as specifications of these products.
- In addition, the study presents the fundamental market insights, pricing range of products offered by these companies, and the gross profits and losses experienced by these players throughout their market tenures.
Key inferences influencing the revenue patterns of the market:
- The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Lighting as a Service market into a wide product spectrum.
- The study covers essential data pertaining to the application landscape of these products, the demand for and market share held by each application type, along with their growth rate analysis over the estimated period.
- A meticulous description of the distribution channels, including distributors, producers, and buyers, is one of the key highlights of the global Lighting as a Service market report.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Lighting as a Service Market Segmentation & Impact Analysis
4.1. Lighting as a Service Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Improved financial benefits with zero capital cost model
188.8.131.52. Regulatory government policies for the adoption of energy efficient lighting systems
4.2.3. Market restraints analysis
184.108.40.206. Poor quality LED products prevalent throughout the market
220.127.116.11. Dearth in awareness surrounding Value of A Service Oriented Model of Lighting
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Lighting as a Service Market By Component Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Component Dynamics & Market Share, 2019 & 2027
5.1.1. Luminaries and Controls
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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