Lighting as a Service to See Good Times Ahead | Solutions and Strategies

The Lighting as a Service is growing at a high pace in accordance with the growth in energy efficient lighting systems, globally. It is an enhanced form of lighting that is enabling the move from traditional lighting to smart lighting using sensors and Internet of Thing (IoT) technology to reduce energy cost and increase energy efficiency without any investment.

The Lighting as a Service market is driven by factors such as growth in interest of Zero Capital Cost Model & Improved Financial Benefits, Government Policies & Regulations for Adoption of Energy-Efficient Lighting Systems. 

In the coming years, the market is expected to witness the highest growth rate in the Europe region. Growing need to save energy, and government policies and regulations for adoption of energy efficient lighting systems are driving the growth of the lighting as a service market. North America is currently the largest market for lighting as a service, closely followed by Europe. The lighting as a service market in North America will be driven by demand from commercial establishments keen to leverage the cost saving potential of efficient lighting systems and contribute to the global movement to reduce energy consumption. 

The research study of Lighting as a Service further segmented into end-user, installation, Component

End-user is classified into Commercial, Municipal, and Industrial The commercial segment is are expected to dominate the global lighting as a service market during the forecast period, and are expected to constitute the fastest growing segment. The energy savings and cost reductions promised by lighting as a service constitute an attractive offer for commercial end users in view of the increasing corporate focus on sustainability and energy efficiency. The municipal segment is expected to grow at the highest CAGR during the forecast period.

Installation is classified into indoor and outdoor. The outdoor segment is estimated to lead the market in terms of growth rate during the forecast period, whereas the indoor segment held the largest market share in 2015. The growing commercial sector in developing countries is the main driver of the growth of the indoor segment in the lighting as a service market.

Component is classified into Luminaires, Software & Communication Systems, and Maintenance Services.

Rapid Development of Smart Cities and Convergence of Internet of Things with0 Lighting Systems are expected to create new opportunities for Lighting as a Service Market.

Key players:

Koninklijke Philips N.V. (Netherlands), General Electric Lighting (U.S.), Zumtobel Group AG (Austria), SIB Lighting (U.S.), Lunera Lighting (U.S.), Igor Inc. (U.S.), Itelecom (Chile), and Cree Inc. (U.S.).

For more details refer: http://www.marketsandmarkets.com/Market-Reports/lighting-as-a-service-market-117526361.html