Value Market Research, has recently added new report on the Global Lighting As A Service Market and the report reveals that the global lighting as a service market was valued USD 156 MN (by revenue) in 2018 and is anticipated to reach USD 978.9 MN by 2025 with a CAGR of 30%. Rising demand for efficient lighting system subjected to growing need to save energy is serving as a key driver. Also, various benefits offered by the lighting as a service such as it saves cost and energy and doesn't require safeguard charges is further fueling the product demand. The advent of the internet of things along and rising demand from commercial sectors for sustainable and connected lighting system is also expected to augment market demand.
Lighting as a service is a one-stop shop for broad spectrum of services such as performance, maintenance, operations, and financing. This advanced solution ultimately save energy with no upfront investment, only a low monthly managed service fee. This is suitable for retrofit situations and where there is a need for tracking to generate data-driven insight. Moreover, it allows nominal upgrades to take place within the existing expenditure of the contract. Therefore, this basically saves money, time and energy and also keep the customer up to date with the rapid changes in the lighting technology.
The report "Global Lighting As A Service Market Report By End-User (Commercial, Municipal And Industrial), By Installation (Indoor And Outdoor), By Component (Luminaire & Control Equipment, Software & Communication System And Maintenance & Other Services) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025" offer market introduction, dynamics, segmentation, regional analysis, and competitive dashboard.
The market segmentation cover end-user, installation, component, and region. The end-user segment has been classified as commercial, municipal, and industrial. Commercial segment is dominating the market owing to the rising adoption of lighting-as-a-service by various organizations since it offers energy saving and cut downs the cost. Installation segment has been bifurcated into indoor and outdoor. The indoor segment is accounted for the highest share in the market owing to the rising number of various commercial spaces. Component segment has been categorized into luminaire & control equipment, software & communication system and maintenance & other services. Luminaire & control equipment are gaining traction in the market owing to the rising adoption of LED lighting system across numerous application. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. North America is dominating the overall market owing to strict government rules and regulation for raising the adoption of an energy-saving lighting system. Also, the presence of well-developed infrastructure in the region is further fueling the regional market demand.
The Report Segments Global Lighting As A Service Market -
Luminaire & Control Equipment
Software & Communication System
Maintenance & Other Services
Middle East & Africa
Players Profiled in the Report:
Cree, Inc., Future Energy Solutions, General Electric Lighting, IGOR Inc., Itelecom USA, Koninklijke Philips N.V, Lunera Lighting, RCG Lighthouse, SIB Lighting and Zumtobel Group AG.
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