The research study gives a comprehensive analysis of the Lighting as Service (LaaS) market with the help of several analytical tools and helps identify and capitalize on the growth prospects existing in the Keyword Market. It also offers accurate insights into the prevalent business strategies.
The market predominantly is driven by the augmenting need for cost-efficient and environmentally sustainable lighting solutions
The increasing integration of IoT with lighting systems aims for lower consumption of power across various industrial verticals. However, the service’s subscription program typically offers better overall cost compared to self-installation systems, which is anticipated to restrain the market growth.
The escalating spread of COVID-19 pandemic, tech companies in the manufacturing vertical, are working towards unveiling new plans to help the small and large corporations enhance the management of infection in the building. In March 2020, Eco Energy Cluster (Eco E), a lighting services firm, released a replacement suite of lighting merchandise to provide corporations solutions to enhance their infection management.
The Global Lighting as Service (LaaS) Market is predicted to attain a valuation of USD 6.28 billion by the end of 2027, expanding at a CAGR of 46.1% throughout the projected timeframe, according to the recent analysis by Emergen Research..
Major players of the market include General Electric, Future Energy Solutions, UrbanVolt, Igor Inc., Valoya Oy, SIB Lighting, and Lunera Lighting, among others.
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)
Application Outlook (Revenue, USD Billion; 2017-2027)
Installation Outlook (Revenue, USD Billion; 2017-2027)
The research provides answers to the following key questions:
What will be the growth rate and the market size of the Lighting as Service (LaaS) industry for the forecast period 2020-2027?
What are the major driving forces expected to impact the development of the Lighting as Service (LaaS) market across different regions?
Who are the major driving forces expected to decide the fate of the industry worldwide?
Who are the prominent market players making a mark in the Lighting as Service (LaaS) market with their winning strategies?
Which industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
What are the key barriers and threats believed to hinder the development of the industry?
What are the future opportunities in the Lighting as Service (LaaS) market?