Lighting as a Service Market

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Lighting as a Service
Market Size Worth USD
6.28 Billion By 2027
Lighting as a Service Market Size Worth USD 6.28 Billion By
2027

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Foods & Beverage, Food Ingredients,
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Market Summary
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.
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.
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Market Summary
Some Key Highlights from the Report
• Lighting accounts for nearly 90% of electricity usage in households and 18-40% of economic premises. There's a
growing would like for energy saving across the world, making scope for the market. It's expected that the transition
to energy-efficient lighting would scale back the world electricity demand for lighting by 30-40% in 2030.
• 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.
• With the continued unfold of COVID-19, technology vendors across the manufacturing sector are planning on
launching new propositions to assist corporations improve their buildings' infection management. In March 2020,
lighting services firm Eco Energy cluster (Eco E) launched a replacement suite of lighting merchandise to assist
corporations improve infection management in buildings.
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Market Summary
For the purpose of this report, Emergen Research has segmented into the global Lighting as a Service Market on the
basis of component, installation, application and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Luminaries and Controls
Software
Service
Application Outlook (Revenue, USD Billion; 2017-2027)
Commercial
Industrial
Others
Installation Outlook (Revenue, USD Billion; 2017-2027)
Indoor
Outdoor
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Parameter
Details
Market Size Estimation Period 2020-2027
Base Year Considered 2019
Historical Data 2016-2018
Forecast Period 2020-2027
Quantitative Units Revenue in USD million & CAGR from 2020 to 2028
Segments Covered
Countries Included
Report Coverage
Regions Scope
Customization Scope
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Types, Application, End-Users, Regions & more.
The U.S., Germany, U.K., Italy, China, India, Japan, Brazil
Revenue Forecast, Company Ranking, Competitive
Landscape, Growth Factors, and Trends
North America, Europe, Asia Pacific, Latin America,
Middle East and Africa
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Regional Share Dynamics
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