Market Size – USD 302.5 Million in 2019, Market Growth – CAGR of 46.1%, Market Trends –
Development of smart cities across the globe
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. However, the service’s subscription program generally imposes a better overall price than the owner pays for the self-installation system, which might seemingly cause a challenge.
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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 further sheds light on the broad geographical fragmentation of the global Lighting as a Service market, as well as various market segments and sub-segments categorized into product types, applications, and end-users. The regional overview in the global market report comprises the market size, value, share, volume, and cost analysis related to each region.
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)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Focal Points of the Global Lighting as a Service Market Report:
- Market Coverage: This section of the report covers significant details on the key manufacturers, vital market segments, product innovation scope, and the forecast years. Additionally, it describes in detail the range of the product and the global Lighting as a Servicemarket segmentation based on product type and application spectrum.
- Executive Summary: In this chapter, the global market growth rate, competitive landscape, drivers and constraints, trends, limitations, and the key market segments have been discussed at length.
- Regional Analysis: The report offers meaningful insights into the import and export trends, production and consumption capacities, estimated revenue share, and key players of each region dominating the market
- Competitive Landscape:The report also discusses the course of development of each market player in this industry vertical during the forecast period. It further details on the firms, industries, organizations, vendors, and local manufacturers engaged in this industry. The leading products and services to gain global and regional market shares form the competitive landscape of the Lighting as a Service industry.
- Manufacturers’ portfolios: This section includes detailed information regarding the product portfolio of each local and global manufacturer, their strengths and weaknesses, product profiles, production value and capacity, and other vital information.
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
Chapter 6. Lighting as a Service Market By Installation Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
6.1. Installation Dynamics & Market Share, 2019 & 2027
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