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.
The report provides detailed insights into Lighting as a Service market trends, industry trends, consumer trends, market size, market share, market revenue growth, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the Lighting as a Service market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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The steady Lighting as a Service market share growth can be attributed to a variety of factors and trends in the global Lighting as a Service market currently. Global Lighting as a Service market revenue growth is supported to a significant extent due to rising focus by major players on product/service expansion into new and untapped domestic markets and rising competition in the market. These factors are expected to drive incline in regional Lighting as a Service market share growth over the forecast period.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Lighting as a Service market share contribution of these countries. In addition, Lighting as a Service market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
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).
Top key vendors in Lighting as a Service Market include are:
- General Electric,
- Future Energy Solutions,
- Igor Inc.,
- Valoya Oy,
- SIB Lighting
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
On the basis of product, this report displays the production, revenue, price, and market share and growth rate of each type, primarily split into
- Luminaries and Controls
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In terms of Lighting as a Service market share and revenue contribution to the global Lighting as a Service market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Lighting as a Service market share.
Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “Lighting as a Service Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2020 - 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.
Region wise performance of the Lighting as a Service industry
Asia Pacific market share contribution to the global Lighting as a Service market is expected to continue to register comparatively faster growth rate than other regional markets between 2020 and 2028. Rapid growth rate of China and India Lighting as a Service market share contribution can be attributed to increasing population and disposable income, and steady economic growth, and the trend is expected to continue going ahead.
Steady increase in Europe Lighting as a Service market share growth is primarily supported by continuous developments in major countries in the region. Robust focus on research and development initiatives by major firms in countries in the region is also expected to continue to support market share growth of the Europe Lighting as a Service market going ahead.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Lighting as a Service industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Lighting as a Service market across different regions?
- Who are the major driving forces expected to decide the fate of the Lighting as a Service industry worldwide?
- Who are the prominent market players making a mark in the Lighting as a Service market with their winning strategies?
- Which Lighting as a Service industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Lighting as a Service market?
Table of Content
Chapter 1. Methodology Sources
1.1. Lighting as a Service Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Lighting as a Service Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
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. Lighting as a Service Market indicators analysis
4.2.2. Lighting as a Service Market drivers analysis
220.127.116.11. Rapid urbanization and industrialization
18.104.22.168. Stringent government regulations regarding carbon emissions
22.214.171.124. Increasing prevalence of respiratory diseases
126.96.36.199. Rising need to enhance indoor air quality
4.2.3. Lighting as a Service Market restraints analysis
188.8.131.52. High cost associated with the maintenance of Lighting as a Service products
184.108.40.206. Availability of renewable sources of energy
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 10. Competitive Landscape
10.1. Lighting as a Service Market Revenue Share By Manufacturers
10.2. Mergers Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East Africa
10.5.2.5. Latin America
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