The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The process of evolution of smart technology has considerably changed the overall lighting industry in terms of energy and money saving, ensuring increased safety and convenience of the users. With the installation of the smart lighting system in a building, 50% energy costs can be reduced, enhancing the productivity and comfort of the user. The global economy is expected to exhaust more energy resources in the future owing to the rising demand for energy from the developing countries. Additionally, the risk of climate change associated with the use of fossil fuels has made the supply of energy highly difficult. Several countries, such as the U.S., India, and China, are opting for various methods in order to decrease the carbon dioxide concentration in the atmosphere.
The global Lighting as a Service (LaaS) market is expected to witness tremendous growth during the forecast period 2018-2025. The market is growing due to the increasing demand for energy-efficient lighting systems. Growing implementation of Internet of Things (IoT) with lighting services is also expected to increase the adoption of this service worldwide. The report is a compilation of various segments including market dynamics, market breakdown by application, and by region.
The report provides comprehensive market analysis and forecast along with the recent trends influencing the markets. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview and SWOT analysis.
The report addresses the following key questions about the global LaaS market:
- What will be the global lighting as a service market value by 2025 along with the estimated CAGR?
- What are the driving factors for the global LaaS market from 2018 to 2025?
- Which factors are impending the growth of the global LaaSV market?
- What are the recent trends and developments in the global LaaS industry?
- Who are the leading players in the global LaaS market along with their ranking?
- Which service application will lead the global LaaS market by 2025?
- Which region will lead the global LaaS market by 2025?
- Which application will dominate the global LaaS market across various regions by 2025?
The global LaaS market is thronged with several lighting industry giants such as Acuity Brands, Eco-Engineering, Enlighted Inc, GE Lighting, LightEdison LLC, LumenServe Inc, Lumero, Metrus Energy Inc, Philips Lighting (Signify Holdings,), RCG Lighthouse, Sib Lighting, Sparkfund, UrbanVolt Ltd, Valoya Oy Ltd and Zumtobel Group AG, among others. With the increasing demand for the LaaS and its applications, companies have the opportunity to expand their services in the market through different strategic approaches. Some of the strategies followed by the contributors are product launches, joint ventures, collaborations, partnerships, acquisitions, and business expansions.