Lighting as Service (LaaS) Market Future Demand & Growth Analysis with Forecast up to 2027

 

The Global Lighting as Service (LaaS) Market is predicted to attain a valuation of USD 6.28 billion by the end of 2027, expanding at a CAGR of 46.1% throughout the projected timeframe, according to the recent analysis by Emergen Research. The market predominantly is driven by the augmenting need for cost-efficient and environmentally sustainable lighting solutions. The increasing integration of IoT with lighting systems aims for lower consumption of power across various industrial verticals. However, the service’s subscription program typically offers better overall cost compared to self-installation systems, which is anticipated to restrain the market growth.

Read In Depth: https://www.emergenresearch.com/industry-report/lighting-as-a-service-market

Key Highlights from the Report:

North America is estimated to command the industry’s expansion over the projected timeframe owing to the escalating government initiatives and regulations to encourage the adoption of energy-efficient lighting systems across the United States and Canada. Moreover, the presence of major manufacturers and the extensive R&D activities are anticipated to add traction to regional growth. The United States of America Department of Energy had estimated that by 2020, nearly 76% of the outside luminaire shipments would have been LEDs.

Major players of the market include General Electric, Future Energy Solutions, UrbanVolt, Igor Inc., Valoya Oy, SIB Lighting, and Lunera Lighting, among others.

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)

·         Service

·         Software

·         Luminaries and Controls

Application Outlook (Revenue, USD Billion; 2017-2027)

·         Industrial

·         Commercial

·         Others

Installation Outlook (Revenue, USD Billion; 2017-2027)

·         Outdoor

·         Indoor

Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   U.K.

o   Germany

o   France

o   BENELUX

o   Rest of Europe

·         Asia Pacific

o   China

o   Japan

o   South Korea

o   Rest of APAC

·         Latin America

o   Brazil

o   Rest of LATAM

·         Middle East & Africa

o   Saudi Arabia

o   U.A.E.

o   Rest of MEA