Lighting-as-a-Service Market - Overview
Lighting-as-a-Service
(LaaS) is an all-inclusive subscription-based procurement mechanism that
provides design and installation, other technical requirement, maintenance, and
recycling or disposal services of lighting system for different end-users. The
benefits of LaaS include smart management of loads, creation of new use cases
for lighting, reduced costs, carbon emissions, adherence to government mandates
and standards. Increase in demand for energy efficient lighting, increased cost
savings, spread of Internet of Things (IoT) to design smart, sustainable and
connected lighting systems has led to the growing adoption of
Lighting-as-a-service by the various end-users. Furthermore, the pressing needs
of the commercial space owners to remain updated with the latest lighting technology
is effectively met by LaaS. However, lack of awareness regarding the
lighting-as-a-service offering among the potential end-users restrain the
market growth. The report segments the lighting-as-a-service market based on
component, installation, application, and region.
Get Sample Report @ https://www.marketresearchfuture.com/sample_request/7265
Based
on the installation, the market is bifurcated into indoor and outdoor. The
indoor installation segment is expected to hold the largest share during the
forecast period owing to the growing smart and efficient lighting demand from
the commercial sector. Whereas, the rapid convergence of IoT for efficient
street lighting designs boost the outdoor installation segment. The outdoor
installation segment includes lighting system on street, in park and
recreational areas, and in parking garages, among others.
Based
on application, the market is segmented into commercial, industrial, and
others. The commercial segment dominates the lighting-as-a-service market
throughout the forecast period, and it is anticipated to hold the highest CAGR
during the forecast period. Factors such as increased energy savings and
overall cost reductions accelerate the widespread adoption of
lighting-as-a-service by various commercial organizations. Furthermore, the
municipal organization within the others segment is anticipated to register the
second highest CAGR during the forecast period. This segment is widely adopting
LaaS for outdoor lighting systems installations.
Access full report @ https://www.marketresearchfuture.com/reports/lighting-as-a-service-market-7265
Key
Players
The
key players operating in the lighting-as-a-service 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).
These
players are largely investing in growth strategies such as partnerships &
collaborations, and contracts & agreement to strengthen their position in
the global lighting-as-a-service market. For instance, in 2018, Gooee
collaborated with Aurora AOne to launch a residential lighting product line in
the UK and Australia that will use ZigBee controls.
Regional Analysis
The global market for lighting-as-a-service is
estimated to grow at a notable rate during the forecast period from 2018 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 2018 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.
About Market Research
Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
Market
Research Future
+1
646 845 9312
nice article. helpful information. for more, contact @delveinsight
ReplyDeletewww.delveinsight.com