The global lighting as a service market is expected to grow at a robust CAGR during the forecast period, 2023-2027. The market growth can be attributed to the financial benefits of availing lighting as a service (LaaS) such as instant return on investment without any upfront capital cost and increasing demand for energy-efficient lighting systems. Besides, growing convergence of the Internet of Things (IoT) in lighting systems to reduce the electricity consumption is expected to drive the growth of the global lighting as a service market. The lighting as a service consists of energy auditing, lighting design, financing, installation, maintenance & other services, and end of equipment life. During energy auditing, the existing lighting, electricity consumption, existing intensity and needs of customer are assessed. After auditing, lighting components such as LED chips, circuit boards, casings, etc. are installed. Then, the customer’s lighting consumption is analysed, and off-site & on-site maintenance is provided. As the demand for energy is increasing at a rapid rate, governments across the world are looking for solutions to reduce the consumption of electricity, which has led to the growing adoption of lighting as a service market. Moreover, the LaaS model has become more common in commercial and citywide installations of LED lights with an aim of reducing installation costs. Besides, the global LED use.
The global lighting as a service market is segmented on the basis of application, installation, component, and regional distribution. Based on application, the global lighting as a service market is bifurcated into residential and others. The commercial segment is expected to dominate during the forecast period due to its advantages such as no upfront costs, reduced energy consumption and continued cost savings. Based on installation, the market is divided into indoor and outdoor. The indoor segment is expected to register the highest growth in the global lighting as a service market during the forecast period, owing to growing commercial sector in developing countries. Geographically, the market has been segmented into Asia-Pacific, North America, South America, Middle East & Africa and Europe. North America is expected to dominate the market in the forecast period due to the rising government support to replace traditional lighting systems with energy efficient lighting systems.
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Some of the leading players in the global lighting as a service market are Koninklijke Philips N.V, Cooper Industries, Inc., SIB Lighting, Cree, Inc., RCG Lighthouse, Digital Lumens, Inc., Lutron, Electronics Company, Inc., Future Energy Solutions, Lunera Lighting, etc
| Attribute | Details |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends |
| Segments covered | · By Application · By Installation · By Component |
| Region scope | Asia Pacific; Europe; North America; South America; Middle East & Africa |
| Country scope | China; India; Japan; South Korea; Australia; Malaysia; France; Germany; United Kingdom; Italy; Spain; Turkey; Netherlands; Switzerland; Norway; United States; Mexico; Canada; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
| Key companies profiled | Koninklijke Philips N.V, Cooper Industries, Inc., SIB Lighting, Cree, Inc., RCG Lighthouse, Digital Lumens, Inc., Lutron, Electronics Company, Inc., Future Energy Solutions, Lunera Lighting |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
