Global Lighting as a Service Market, Analysis and Forecast (2020-2025) Focus on Commercial, Industrial and Outdoor Applications and Region.

The market is growing due to the increasing demand for energy-efficient lighting systems. The growing implementation of the Internet of Things (IoT) with lighting services is also expected to increase the adoption of this service across the globe. The report is a compilation of various segments including market dynamics, market breakdown by application and by geography.

Request for Cost-Free Sample study: https://bit.ly/2WtIGIP

Lighting as a Service Market Scope

Lighting as a service is the best cost-effective solution as it eliminated the initial capital investment and offers high-quality lighting services on the basis of monthly or yearly subscription. The service enables energy saving by approximately 70% and it improves operations and makes more comfortable surroundings without a big office renovation. Increasing adoption of lighting service in commercial spaces for reducing the upfront cost and increasing demand for emerging economies due to energy and cost reducing properties are the major key drivers for the market. Additionally, the rising trend of energy-efficient lighting system and increasing development of smart cities are the factors that have been supplementing the overall growth of the market. However, lack of awareness about benefits associated with lighting as a service, intense competition among key players and lack of knowledge among end users are limiting the growth of the market. Moreover, government policies and regulation to promote lighting as a service model and increasing investment in R&D for lighting are the factors that can create a big opportunity for the market in the coming years.

The market study is being classified and major geographies with country level break-up. According to AMA, the Global Lighting as a Service market is expected to see growth rate of 47.25% and may see market size of USD1463.18 Million by 2024.

The Vendors having a strong hold in the market are Philips N.V. (Signify), General Electric Lighting, Zumtobel Group AG, SIB Lighting, Lunera Lighting. Research Analyst at AMA predicts that United States and European Vendors will contribute to the maximum growth of Global Lighting as a Service market throughout the predicted period.

Request for Cost-Free Sample study: https://bit.ly/2WtIGIP

Segmentation Overview

AdvanceMarketAnalytics has segmented the market of Global Lighting as a Service market by Type, Application and Region.

On the basis of geography, the market of Lighting as a Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).

If we see Market by Service, the sub-segment i.e. Recycling Of Equipment will boost the Lighting as a Service market. Additionally, the rising demand from SMEs and various industry verticals give enough cushion to market growth. If we see Market by Installation Type, the sub-segment i.e. Indoor will boost the Lighting as a Service market. Additionally, the rising demand from SMEs and various industry verticals give enough cushion to market growth. If we see Market by Application, the sub-segment i.e. Municipal will boost the Lighting as a Service market. Additionally, the rising demand from SMEs and various industry verticals give enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Luminaires will boost the Lighting as a Service market. Additionally, the rising demand from SMEs and various industry verticals give enough cushion to market growth.

In May 2017, Philips had launched wireless Lighting-As-A-Service. The new launch ensures building managers to reduce energy use by approximately 70% and it improves operations and makes more comfortable surroundings without a big office renovation. The new launch has the potential to create a big opportunity for the company.

Market Trend

• Rising Trend of Energy Efficient Lighting System
• Increasing Development of Smart Cities

Market Drivers

• Increasing Adoption of Lighting Service in Commercial Spaces for Reducing Upfront Cost
• Increasing Demand for Emerging Economies Due to Energy and Cost Reducing Properties

Opportunities

• Government Policies and Regulation to Promote Lighting as a Service Model
• Increasing Investment in R&D for Lighting

Restraints

• Lack of Awareness about Benefits Associated with Lighting as a Service

Challenges

• Intense Competition and Lack of Knowledge among End Users

Key Target Audience

LED Manufacturers, Raw Material Suppliers, Lighting as Service Providers, Investors, Event Managers, Research Organization and Others

Some of the key companies/manufacturers profiled in the report

• Philips N.V. (Signify) (Netherlands)
• General Electric Lighting (United States)
• Zumtobel Group AG (Austria)
• SIB Lighting (United States
• Lunera Lighting (United States)
• Igor Inc. (United States)
• Itelecom (Chile)
• Cree Inc. (United States)
• Cooper Industries, Inc (United States)
• Future Energy Solutions (United States)

Additional players considered in the study are as follows:

Sparkfund (United States), Metrus Energy Inc (United States)

Request for Cost-Free Sample study: https://bit.ly/2WtIGIP