Global Lighting as a Service market is accounted for $171.03 million in 2019 and is expected to reach $3,473.41 million by 2027 growing at a CAGR of 45.7% during the forecast period. Government policies & regulations for the adoption of energy-efficient lighting systems, zero capital cost model & improved financial benefits are the major factors driving the market growth.
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By geography, North America is going to have lucrative growth during the forecast period owing to the rapid development of smart cities in the U.S. has surged the need for energy-efficient lighting systems, growing demand for energy-saving lighting solutions by large warehouses and manufacturing units.
Some of the key players profiled in the Lighting as a Service Market include Acuity Brands Lighting, Inc, Cree Inc., Facility Solutions Group, Future Energy Solutions, General Electric Lighting, Philips N.V., Koninklijke Philips N.V, Lunera Lighting, Lutron Electronics Co., Inc, SIB Energy, LLC, UrbanVolt, Zumtobel Group AG, Igor Inc., Itelecom, Cooper Industries, Inc and Every Watt Matters.
Components Covered in Lighting as a Service Market
• Luminaires & Control Equipment
• Transmitters and Receivers
• Maintenance Services
• Software & Communication Systems
• Microprocessors and Microcontrollers
• Switches and Dimmers
• Light-Emitting Diode (LED) Drivers
• Sensors
Services Covered:
• Recycling of Equipment
• Lighting System Installation
• Maintenance and Management
Installations Covered:
• Indoor
• Outdoor
End Users Covered:
• Industrial
• Municipal
• Residential
• Commercial
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