Lighting as a Service Market Size, Share, Trends, Growth and Forecast 2032

Lighting As A Service Market Insights

As per the published report by Market Research Store, the global Lighting As A Service Market size was estimated at USD 1.48 Billion in 2023 and is anticipated to reach USD 7.68 Billion by 2032, growing at a projected CAGR of 20.1%. The report provides a detailed analysis of the global market, including market trends, market dynamics, and market opportunities during the forecast period (2024-2032). It delves deeper into several market facets, such as market definition, size, growth, forecast, segmentation, competitive analysis, growth drivers, restraints, financial analysis, SWOT analysis, PORTER’s five force analysis, PESTEL analysis, market share analysis, cost-benefit analysis, challenges, restraints, strategic recommendations, and market players.

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Global Lighting as a Service Market: Overview

LED lightings are taking place of traditional incumbent technologies. Lighting as a service is expanding its market along with technological advancement across the world. The lighting industry is rapidly changing and adopting modern solutions involved in a modern lighting system to meet customer demand. Lighting as a service market offers services such as maintenance, technical, financial, and other services. These offerings may also involve recycling of equipment, installation of a lighting system, and continue through maintenance and management. Several companies offer combinations of these services to better serve customer and retention for a longer time.

Global Lighting as a Service Market: Growth Factors

Owing to rising demand for the energy, the efficient lighting is expected to augment global lighting as a service market growth. Government guidelines and regulations for implementation of energy-efficient lighting systems are projected to propel the global market in the coming future. Several benefits offered by the lighting as a service include ensuring cost savings, no safeguarding charge, which is forcing countries to use lighting as a service model, no straight costs and reduction in energy consumption may foster the global lighting as a service market growth in future. Companies focus on new business strategies to enhance the global market share by adopting new products and techniques, partnerships & collaborations, mergers & acquisitions, which may positively impact the global market in the near future. Conversely, lack of responsiveness regarding true value propositions of the lighting as service system may hinder the global lighting as a service market growth to some extent.

Global Lighting as a Service Market: Segmentation

The global lighting as a service market is categorized based on components as maintenance & other services, luminaries & control equipment, and software & communication systems.

Based on installation, the global market is divided as outdoor, and indoor.

Further, the global market is divided based on end-user as municipal, commercial, and industrial.

Lighting As A Service Market: Report Scope

Global Lighting as a Service Market: Regional Analysis

The global lighting as a service market is geographically segmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific contributed for the largest market share in the global market. In addition, development of smart cities in this region is anticipated to foster the global lighting as a service market growth.

Global Lighting as a Service Market: Competitive Players

Key players in the global lighting as a service market are:

• Koninklijke Philips N.V
• Future Energy Solutions
• RCG Lighthouse
• Lutron Electronics Company, Inc.
• Cree, Inc.
• Itelecom USA
• Lunera Lighting.

Other players include

• SIB Lighting
• Digital Lumens, Inc.
• Legrand S.A.
• Acuity Brands Lighting, Inc
• Igor Inc.
• Osram Licht Ag
• Cooper Industries, Inc.
• General Electric Lighting.

The global Lighting as a Service Market is segmented as follows:  

By Components 

• maintenance & other services 
• luminaries & control equipment
• software & communication systems

By Installation 

• outdoor
• indoor

By End-user 

• municipal
• commercial
• industrial

Global Lighting as a Service Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • Germany
  • France
  • UK
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East & Africa

What Report Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.

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