Lighting as a Service Market: By Components (Luminaries and Control, Software, Services), By Installation (Indoor Installation, Outdoor Installation), By Application (Commercial, Industrial, Municipal, Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
Lighting as a Service Market: By Components (Luminaries and Control, Software, Services), By Installation (Indoor Installation, Outdoor Installation), By Application (Commercial, Industrial, Municipal, Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
PRODUCT OVERVIEW
Lighting as a service (LaaS) is a subscription-based business model for light services rather than a one-time payment. It is overseen by third parties, specifically specialist service providers, and may include services such as lighting design, financing, installation, and maintenance. Customers can outsource lighting portions of their business for a set period using this strategy. Throughout the term of the subscription contract, it retains ownership of the equipment. As a result, it is an environmentally responsible business method that allows for a longer product lifecycle with many lifecycles.
MARKET HIGHLIGHTS
Global Lighting as a Service Market is expected to grow with a CAGR of 47.5% by 2031
Global Lighting as a Service Market to surpass USD 31.9 billion by 2031 from USD 0.6 billion in 2021 at a CAGR of 47.5% in the coming years, i.e., 2021-2031. The growing need for energy-efficient lighting systems is the key driver for the Lighting as a Service Market. The growing incorporation of the Internet of Things (IoT) in the lighting system has resulted in lower energy usage in various parts of the world, making it very popular.
GLOBAL LIGHTING AS A SERVICE MARKET: SEGMENTS
Outdoor segment leads the market with the highest CAGR during 2021-31
By installation, the Lighting as a Service is divided into Indoor Installation and Outdoor Installation. The outdoor category is predicted to be the market's fastest expanding section. In 2015, the indoor category had the biggest market share, and it is likely to continue to do so throughout the projection period. The expansion of the indoor sector in the lighting as a service market is primarily driven by the growing commercial sector in developing countries.
Commercial segment is expected to grow considerably during 2021-31
Based on Application, the Lighting as a service is categorized into Commercial, Industrial, Municipal, and Others. In past years, the commercial sector dominated the end-user segment, and this trend is likely to continue during the forecast period. During the projection period, the municipal segment is expected to outperform the market concerning growth rate.
MARKET DYNAMICS
Drivers
The extensive demand for Energy Efficient Lighting Systems
Speedy technological advances
Restraint
The high cost associated with Service Subscription is restraining the market growth
.
GLOBAL LIGHTING AS A SERVICE MARKET:
Key Players
Lighting as a Service Market Segments:
PRODUCT OVERVIEW
Lighting as a service (LaaS) is a subscription-based business model for light services rather than a one-time payment. It is overseen by third parties, specifically specialist service providers, and may include services such as lighting design, financing, installation, and maintenance. Customers can outsource lighting portions of their business for a set period using this strategy. Throughout the term of the subscription contract, it retains ownership of the equipment. As a result, it is an environmentally responsible business method that allows for a longer product lifecycle with many lifecycles.
MARKET HIGHLIGHTS
Global Lighting as a Service Market is expected to grow with a CAGR of 47.5% by 2031
Global Lighting as a Service Market to surpass USD 31.9 billion by 2031 from USD 0.6 billion in 2021 at a CAGR of 47.5% in the coming years, i.e., 2021-2031. The growing need for energy-efficient lighting systems is the key driver for the Lighting as a Service Market. The growing incorporation of the Internet of Things (IoT) in the lighting system has resulted in lower energy usage in various parts of the world, making it very popular.
GLOBAL LIGHTING AS A SERVICE MARKET: SEGMENTS
Outdoor segment leads the market with the highest CAGR during 2021-31
By installation, the Lighting as a Service is divided into Indoor Installation and Outdoor Installation. The outdoor category is predicted to be the market's fastest expanding section. In 2015, the indoor category had the biggest market share, and it is likely to continue to do so throughout the projection period. The expansion of the indoor sector in the lighting as a service market is primarily driven by the growing commercial sector in developing countries.
Commercial segment is expected to grow considerably during 2021-31
Based on Application, the Lighting as a service is categorized into Commercial, Industrial, Municipal, and Others. In past years, the commercial sector dominated the end-user segment, and this trend is likely to continue during the forecast period. During the projection period, the municipal segment is expected to outperform the market concerning growth rate.
MARKET DYNAMICS
Drivers
The extensive demand for Energy Efficient Lighting Systems
Speedy technological advances
Restraint
The high cost associated with Service Subscription is restraining the market growth
.
GLOBAL LIGHTING AS A SERVICE MARKET:
Key Players
- Philips NV
- General Electric Lighting
- Itelecom
- Valoya Oy
- RCG Lighthouse
- Metrus Energy Inc
- Zumtobel Group Ag
- LEDVANCE GmbH
- Lunera Lighting
- Enlighted Inc.
- Other Prominent Players
Lighting as a Service Market Segments:
- By Components
- Luminaries and Control
- Software
- Services
- By Installation
- Indoor Installation
- Outdoor Installation
- By Application
- Commercial
- Industrial
- Municipal
- Others
- Lighting as a Service Market Dynamics
- Lighting as a Service Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
Executive Summary
1.1. Regional Market Share
1.2. Business Trends
1.3. Lighting as a Service Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Lighting as a Service Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 LIGHTING AS A SERVICE MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 LIGHTING AS A SERVICE MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Components
11.3.1.1. Luminaries and Control
11.3.1.1.1. By Value (USD Million) 2021-2031F
11.3.1.1.2. Market Share (%) 2021-2031F
11.3.1.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Software
11.3.1.2.1. By Value (USD Million) 2021-2031F
11.3.1.2.2. Market Share (%) 2021-2031F
11.3.1.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Services
11.3.1.3.1. By Value (USD Million) 2021-2031F
11.3.1.3.2. Market Share (%) 2021-2031F
11.3.1.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.2. By Installation
11.3.2.1. Indoor Installation
11.3.2.1.1. By Value (USD Million) 2021-2031F
11.3.2.1.2. Market Share (%) 2021-2031F
11.3.2.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Outdoor Installation
11.3.2.2.1. By Value (USD Million) 2021-2031F
11.3.2.2.2. Market Share (%) 2021-2031F
11.3.2.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3. By Application
11.3.3.1. Commercial
11.3.3.1.1. By Value (USD Million) 2021-2031F
11.3.3.1.2. Market Share (%) 2021-2031F
11.3.3.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Industrial
11.3.3.2.1. By Value (USD Million) 2021-2031F
11.3.3.2.2. Market Share (%) 2021-2031F
11.3.3.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Municipal
11.3.3.3.1. By Value (USD Million) 2021-2031F
11.3.3.3.2. Market Share (%) 2021-2031F
11.3.3.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Others
11.3.3.4.1. By Value (USD Million) 2021-2031F
11.3.3.4.2. Market Share (%) 2021-2031F
11.3.3.4.3. Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Components
12.3.2. By Installation
12.3.3. By Application
12.4. By Country
12.4.1. United States
12.4.2. Canada
13 EUROPE LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Components
13.3.2. By Installation
13.3.3. By Application
13.4. By Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14 ASIA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Components
14.3.2. By Installation
14.3.3. By Application
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15 MIDDLE EAST AND AFRICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Components
15.3.2. By Installation
15.3.3. By Application
15.4. By Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Components
16.3.2. By Installation
16.3.3. By Application
16.4. By Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. Philips NV
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. General Electric Lighting
18.3. Itelecom
18.4. Valoya Oy
18.5. RCG Lighthouse
18.6. Metrus Energy Inc
18.7. Zumtobel Group Ag
18.8. LEDVANCE GmbH
18.9. Lunera Lighting
18.10. Enlighted Inc.
18.11. Other Prominent Players
19 APPENDIX
20 CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2. Business Trends
1.3. Lighting as a Service Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Lighting as a Service Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 LIGHTING AS A SERVICE MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 LIGHTING AS A SERVICE MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Components
11.3.1.1. Luminaries and Control
11.3.1.1.1. By Value (USD Million) 2021-2031F
11.3.1.1.2. Market Share (%) 2021-2031F
11.3.1.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Software
11.3.1.2.1. By Value (USD Million) 2021-2031F
11.3.1.2.2. Market Share (%) 2021-2031F
11.3.1.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Services
11.3.1.3.1. By Value (USD Million) 2021-2031F
11.3.1.3.2. Market Share (%) 2021-2031F
11.3.1.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.2. By Installation
11.3.2.1. Indoor Installation
11.3.2.1.1. By Value (USD Million) 2021-2031F
11.3.2.1.2. Market Share (%) 2021-2031F
11.3.2.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Outdoor Installation
11.3.2.2.1. By Value (USD Million) 2021-2031F
11.3.2.2.2. Market Share (%) 2021-2031F
11.3.2.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3. By Application
11.3.3.1. Commercial
11.3.3.1.1. By Value (USD Million) 2021-2031F
11.3.3.1.2. Market Share (%) 2021-2031F
11.3.3.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Industrial
11.3.3.2.1. By Value (USD Million) 2021-2031F
11.3.3.2.2. Market Share (%) 2021-2031F
11.3.3.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Municipal
11.3.3.3.1. By Value (USD Million) 2021-2031F
11.3.3.3.2. Market Share (%) 2021-2031F
11.3.3.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Others
11.3.3.4.1. By Value (USD Million) 2021-2031F
11.3.3.4.2. Market Share (%) 2021-2031F
11.3.3.4.3. Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Components
12.3.2. By Installation
12.3.3. By Application
12.4. By Country
12.4.1. United States
12.4.2. Canada
13 EUROPE LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Components
13.3.2. By Installation
13.3.3. By Application
13.4. By Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14 ASIA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Components
14.3.2. By Installation
14.3.3. By Application
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15 MIDDLE EAST AND AFRICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Components
15.3.2. By Installation
15.3.3. By Application
15.4. By Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA LIGHTING AS A SERVICE MARKET SIZE & FORECAST 2021A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Components
16.3.2. By Installation
16.3.3. By Application
16.4. By Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. Philips NV
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. General Electric Lighting
18.3. Itelecom
18.4. Valoya Oy
18.5. RCG Lighthouse
18.6. Metrus Energy Inc
18.7. Zumtobel Group Ag
18.8. LEDVANCE GmbH
18.9. Lunera Lighting
18.10. Enlighted Inc.
18.11. Other Prominent Players
19 APPENDIX
20 CONSULTANT RECOMMENDATION
