Lighting-as-a-Service Market 2019-2023: Industry analysis and forecast

Posted by Vilas MRFR on July 1st, 2019

Market Highlights

Lighting-as-a-Service (LaaS) refers to the lighting system management services that are outsourced to a third-party. The outsourced services include design and installation, other technical requirement, and maintenance. It also includes the recycling or disposal of the related lighting tools and equipment at the end of its life. This model not just provides lighting system that meet the government mandates and standards but also enables the commercial space to remain updated with the latest lighting technology. To cater to the needs of the end-users rather than one-time payment method, the market players offer subscription model to deliver these services. 

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Lighting-as-a-service market is expected to grow from USD 78.37 million in 2017 to USD 814.59 million by 2023, at a compound annual growth rate (CAGR) of 47.73% during the forecast period. The growing need energy efficient lighting, increased cost savings, spread of Internet of Things (IoT) to design smart, sustainable and connected lighting systems are some of the factors driving the growth of lighting-as-a-service market.

Key players

The prominent players in the lighting-as-a-service market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are Koninklijke Philips N.V. (Netherlands), General Electric Lighting (US), Zumtobel Group AG (Austria), SIB Lighting (US), Lunera Lighting (US), Igor Inc. (US), Itelecom (Chile), Cree Inc. (US), Valoya Oy (Finland), UrbanVolt (Ireland), Sparkfund (US), RCG Lighthouse (Latvia), Metrus Energy, Inc. (US), and Enlighted Inc. (US).

Regional Analysis

The global Lighting-as-a-Service Market is estimated to grow at a notable rate during the forecast period from 2019 to 2023. The geographical analysis of lighting-as-a-service market is done for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the lighting-as-a-service market from 2019 to 2023 owing to the stringent government to adopt energy efficient lighting system, high concentration of market players in the region, and developed infrastructure that is increasingly adopting latest lighting technologies. Europe that closely follows is anticipated to register the highest CAGR during the forecast period. Furthermore, in Asia-Pacific, China and India is expected to emerge as a significant market for lighting services during the forecast period.

LIST OF TABLES

Table 1 Global Lighting-As-A-Service Market, By Region, 2019–2023

Table 2 North America: Lighting-As-A-Service Market, By Country, 2019–2023

Table 3 Europe: Lighting-As-A-Service Market, By Country, 2019–2023

Table 4 Asia-Pacific: Lighting-As-A-Service Market, By Country, 2019–2023

Table 5 Middle East & Africa: Lighting-As-A-Service Market, By Country, 2019–2023

Continued…….

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LIST OF FIGURES

FIGURE 1 Global Lighting-As-A-Service Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Lighting-As-A-Service Market

FIGURE 4 Value Chain Of Global Lighting-As-A-Service Market

FIGURE 5 Share Of Global Lighting-As-A-Service Market In 2017, By Country (In %)

Continued…….

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