Lighting-as-a-Service Market Key Highlights and Future Opportunities

1. Lighting-as-a-Service Market Research Report By Forecast To 2023 Industry Survey, Growth, Competitive Landscapeand Forecasts to 2023 PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)

2. Lighting-as-a-Service Market Forecast To 2023 Lighting-as-a-Service Market Overview Global 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 CAGR of 47.73% during the forecast period. Lighting-as-a-Service (LaaS) is referred to the third-party management of lighting system which includes services such as 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. The third-party vendors ensure the lighting system meets the government mandates and standards such as required lighting control, occupancy sensing, daylight usage, and similar others. 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. 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. Free Report Sample @ https://www.marketresearchfuture.com/sample_request/7265 www.marketresearchfuture.com

3. Lighting-as-a-Service Market Forecast To 2023 Segmental Analysis 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.  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. Lighting-as-a-service market, by application, 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. www.marketresearchfuture.com

4. Lighting-as-a-Service Market Forecast To 2023 Segmental Analysis • The lighting-as-a-service market is segmented based on component, installation, application, and region. • Based on the component, the market is segmented into luminaries & controls, software, and services. • By installation, the market is bifurcated into indoor and outdoor. • Based on application, the market is segmented into commercial, industrial, and others. • By region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. • 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 holds the second largest market share and it is estimated to grow at the highest CAGR during the forecast period. Rapid infrastructure development coupled with the changing government policies has led to the growing demand for lighting as a service. Regional Analysis www.marketresearchfuture.com

5. Lighting-as-a-Service Market Forecast To 2023 Competitive Analysis Favorable government regulations for switching to energy efficient lighting and developing Lumiere infrastructure offer ample opportunities to the market players. To increase their presence in developing economies the market players are largely adopting contracts and agreements as the key growth strategy. This strategy accounted for nearly one-fourth of the total market developments that occurred between 2015-2018. 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), ValoyaOy (Finland), UrbanVolt (Ireland), Sparkfund (US), RCG Lighthouse (Latvia), Metrus Energy, Inc. (US), and Enlighted Inc. (US). Browse Report @ https://www.marketresearchfuture.com/reports/lighting-as-a-service-market-7265 www.marketresearchfuture.com

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