The global lighting as a service market can be analyzed by end-user, installation, component, and region. By end-user, the market can be segmented into commercial, industrial, and municipal.

Albany, NY -- (SBWire) -- 03/14/2017 --Lighting as a Service Market: Overview

The global lighting as a service market is displaying significant growth due to the increasing demand for energy efficient lighting systems and support from several governments for phasing out traditional lighting systems with energy efficient ones.

Lighting as a service (LaaS) refers to a service delivery model wherein light service is provided based on a subscription model rather than a one-time installation model. The basis of the idea is that manufactures install, maintain, and operate customer's lighting systems and does not have any upfront investment for the customer.

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The global lighting as a service market can be analyzed by end-user, installation, component, and region. By end-user, the market can be segmented into commercial, industrial, and municipal.

The report extensively relies on primary and secondary research sources and makes use of industry-centric databases and tools. The analysis of the report will prove to be a useful instrument for stakeholders of the global lighting as a service market.

Lighting as a Service Market: Trends and Opportunities

Worldwide, the development of smart cities is one of the major factors driving the global lighting as a services market. Some of the benefits of deploying lighting as a service include no upfront costs, lower energy conservation, no maintenance liability, improved lighting experience, and savings on energy bills. Lighting as a service also enables the ability to obtain add-on functions and systems such as remote management, data collection, and inter-device communication.

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The increasing use of IoT for the design and functioning of street lighting is also anticipated to propel the demand for lighting as a service solutions across the globe.

The commercial end-user segment is expected to present lucrative growth opportunities to this market. Lighting as a service offers energy savings and reduction in energy bills, which is attractive for commercial end users in view of increasing focus on energy conservation and sustainability.

The indoor installation segment is expected to lead in the near future retaining its dominant position as held in the recent past. The fast development of the commercial sector in developing countries is favoring the growth of the indoor segment in this market. However, the outdoor segment is expected to register fastest CAGR during the forecast period. The increasing convergence of Internet of Things (IoT) for effective street lighting solutions is the major factor behind the growth of the outdoor installation segment in this market. Outdoor installation includes street lighting, parking garages, park and recreational areas among others.

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However, the abundance of low quality LED products in the market that have performance issues is posing a huge challenge to the lighting as a service market.

Lighting as a Service Market: Regional Overview

The lighting as a service market can be analyzed with respect to the five broad regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Amongst these, North America is the leading regional market due to the governmental support for replacing traditional lighting systems with energy efficient lighting systems. The region is closely followed by Europe.

Lighting as a Service Market: Competitive Landscape

Some of the key companies in the global lighting as a service market include Koninklijke Philips N.V., Zumtobel Group AG, Lunera Lighting, Itelecom, General Electric Lighting, SIB Lighting, Igor Inc., and Cree Inc. The top players are focused on contracts and agreements, partnerships and collaborations, and investments and expansions in order to gain a competitive advantage and translate into business growth.

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