Global Lighting-as-a Service Market, By Component (Software & Communication Systems, Maintenance Services, Luminaires), End-User (Commercial, Industrial, Municipal, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Lighting-as-a Service Market
Lighting-as-a service market will reach at an estimated value of USD 26,543.23 million by 2028 and grow at a CAGR of 47.75% in the forecast period of 2021 to 2028. Rise in the government policies & regulations for adoption of energy-efficient lighting systems is an essential factor driving the lighting-as-a service market.
LED lightings are taking place of traditional incumbent technologies and lighting as a service is expanding its market along with technological advancement across the world. The lighting industry is rapidly adopting and changing modern solutions involved in a modern lighting system to meet customer demand. These offerings may also involve recycling of equipment, installation of a lighting system, and continue through maintenance and management and numerous companies offer combinations of these services to better serve customer and retention for a longer time.
Zero capital cost model & improved financial benefits is a crucial factor accelerating the market growth, also rise in the demand for the energy, rise in the research and development activities and increase in the demand from emerging economies are the major factors among others boosting the lighting-as-a service market. Moreover, rise in the convergence of internet of things with lighting systems and increase in the development of smart cities will further create new opportunities for laser technology market in the forecast period mentioned above.
However, lack of awareness about the value of a service oriented model of lighting is the major factor among others restraining the market growth, and will further challenge the lighting-as-a service market in the forecast period mentioned above.
This lighting-as-a service market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on lighting-as-a service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Lighting-as-a Service Market Scope and Market Size
Lighting-as-a service market is segmented on the basis of component and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, lighting-as-a service market is segmented into software & communication systems, maintenance services and luminaires.
- The lighting-as-a service market is also segmented on the basis of end-user into commercial, industrial, municipal and others.
Lighting-as-a Service Market Scope Country Level Analysis
lighting-as-a service market is analysed and market size, volume information is provided by country, component and end-user as referenced above.
The countries covered in the lighting-as-a service market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the lighting-as-a service market due to rise in the demand for the energy and rise in the research and development activities in this region.
The country section of the lighting-as-a service market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lighting-as-a Service Market Share Analysis
lighting-as-a service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lighting-as-a service market.
The major players covered in lighting-as-a service market report are Signify Holding, Acuity Brands Lighting, Inc., Hafele, Honeywell International Inc., Cree, Inc. , Digital Lumens, Inc., OSRAM GmbH., Lutron Electronics Co., Inc, Legrand SA, Seiko Epson Corporation, Encelium technologies, Virtual Extension, Zumtobel Group AG, Wipro Consumer Care & Lighting, Schneider Electric SE, Eaton, Leviton Manufacturing Co., Inc., Syska LED and Beam Labs B.V. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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