Lighting as a Service (LaaS) Market Size – USD 302.5 Million in 2019, Market Growth - CAGR of 46.1%, Market Trends

SURREY, BRITISH COLUMBIA, CANADA, September 21, 2021 /EINPresswire.com/ -- The LaaS model has become additionally common in industrial and broad installations of diode lights, specifically in retrofitting buildings and outside facilities, with the previous aim of reducing installation prices. Small scale vendors have used the LaaS strategy in merchandising added services, like internet-connected lighting and energy management. As an example, international diode use has enlarged considerably over the recent years, rising from a market share of roughly 7% in 2013 to just about half of the international lighting sales in 2019, with integrated diode luminaires creating up associate increasing share. Many developed markets, together with American as well as European nations are accountable for the rapid growth of the luminaire market wing. At identical time, China has engineered a substantive domestic and international producing base.

The growth of the market is attributed to the increasing demand of energy efficient lighting systems as well as implementation of Internet of Things (IoT) with lighting services.

Lighting as a Service (LaaS) Market Size – USD 302.5 Million in 2019, Market Growth - CAGR of 46.1%, Market Trends

The global Lighting as a Service (LaaS) Market is projected to reach USD 6.28 billion by 2027, according to a recent report by Emergen Research. The primary driver for the market includes the increasing demand for economical lighting systems. The growing convergence of the technology equipped with Internet of Things (IoT) within the lighting system includes a lower consumption of energy across numerous elements of the planet. However, the service's subscription program generally imposes a better overall price than the owner pays for the self-installation system, which might seemingly cause a challenge.

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Countries across the planet are widely adopting diode lighting. as an example, the big apple planned to switch 250,000 streetlights with LEDs, that was to be followed by the replacement of ornamental lights within the urban areas. Barcelona (Spain) deployed over 3,200 good streetlights supported by diode technology, gathering info regarding pollution, noise, humidity, and also the overall surroundings. Moreover, the United States of America Department of Energy (DOE) anticipates that, by 2020, over 76% of the outside luminaire shipments are going to be light-emitting diodes (LEDs).

Key participants General Electric, Future Energy Solutions, UrbanVolt, Igor Inc., Valoya Oy, SIB Lighting and Lunera Lighting among others.

Component Outlook (Revenue, USD Billion; 2017-2027)
Luminaries and Controls
Software
Service

Application Outlook (Revenue, USD Billion; 2017-2027)
Commercial
Industrial
Others

Key geographical areas:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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The report considers the following timeline for market estimation:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027

Lighting as a Service Market. The report consists of forecasts related to the market size, revenue, production, CAGR, gross margin, and other significant factors. The report offers a complete study on the current and future trends of the market, along with the key driving and restraining forces impacting the industry. The report further sheds light on the micro and macroeconomic aspects, including the socio-political landscape that is expected to impact the demand of the Lighting as a Service market during the forecast period.

There are 15 Chapters to deeply display the global LIGHTING AS A SERVICE (LAAS) market.

Chapter 1 covers the LIGHTING AS A SERVICE (LAAS) Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2 talks about the top manufacturers and analyses their sales, revenue and pricing decisions for the duration 2016 and 2017;

Chapter 3 displays the competitive nature of the market by discussing the competition among the top manufacturers. It dissects the market using sales, revenue and market share data for 2016 and 2017;

Chapter 4, shows the global market by regions and the proportionate size of each market region based on sales, revenue and market share of LIGHTING AS A SERVICE (LAAS), for the period 2012- 2017;

Chapter 5, 6, 7, 8 and 9, are dedicated to the analysis of the key regions, with sales, revenue and market share by key countries in these regions;

Chapter 10 and 11, talk about the application and types of duty-free retail shops in the market using the same set of data for the period 2012-2017;

Chapter 12 provides the market forecast by regions, types and applications using sales and revenue data for the period 2017-2022;

Chapter 13, 14 and 15 describe the value chain by focusing on the sales channel and the distributors, traders, dealers of the duty-free retail shop. The concluding chapter also includes research findings and conclusion.

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