Press Release Description

Escalating Smart infrastructure Projects To Boost the Lighting as a Service Market Globally

The changing lighting industry coupled with technologically advanced solutions offered by the lighting manufactures is propelling the growth for lighting as a service market. However, the COVID-19 pandemic across the globe negatively impacted the industry as various regions were either in curfew or in the complete lockdown which witnessed a decline in the demand for services of lighting systems. Furthermore, the emerging need for services such as installations, maintenance, retrofitting, etc., due to the technological advancements in lighting systems is expected to contribute to the growth in the market size of lighting as a service in the forecast period of 2020-25. 

Moreover, the government’s regulation regarding energy efficiency across countries is creating an opportunity for lighting as a service market to grow. Also, the governments’ support for lighting technology coupled with the offering of new lighting solutions by the manufacturer, is further augmenting the market of lighting as a service. For instance, the federal government invested around more than USD 2.1 million in a lighting company GVA Lighting, Inc., for the lighting technology business.

According to MarkNtel Advisors’ research report Global Lighting as a Service Market Analysis, 2020”, the market size of lighting as a service across the globe is forecast to grow at a CAGR of around 45% during 2020-25. The market is growing on account of the announcement of infrastructure projects by the government. Also, surging commercial and industrial sector growth is contributing to the growing demand or lighting as a service. Also, trending technologies such as IoT integration in the lighting systems with other types of equipment are escalating the demand for services in the lighting market. 

Furthermore, the zero capital cost required for the lighting services business which in turn resulted in the emergence of new players in the industry is contributing to the market size growth in the market size of lighting as a service.
 
North America Holds the Lion’s Share
In 2019, North America grabbed the major market share in Global lighting as a system market. The key factors contributing to the growth in the market size of the region are the presence of numerous lighting manufactures and service providers, the government’s regulation to change the old lights with the new energy-efficient LES systems for reducing energy consumption.
Also, the surging number of smart cities and smart homes across the region is creating the demand for lighting service providers for the integration and deployment of smart lighting solution, therefore the market size for lighting as a service is also rising.

Commercial Sector to Outperform other End User Industries
In 2019, the commercial sector captured the major market share owing to the ongoing various commercial projects on a global level. Also, the adoption of lighting as a service business across the sector to reduce energy consumption is contributing to the growth in the market share of the commercial sector.
 
Moreover, a rise in the number of retail malls, shopping complexes, entertainment hubs is contributing to the growth of lighting as a service market in the commercial sector. Also, the Luminaire & control equipment and maintenance services combined grabbed more than half of the market share in the components segments of global lighting as a service market. 

Furthermore, the indoor segment contributed to the largest market share in the installation type in 2019 owing to the growing IoT integration in Malls, offices, etc. However, the outdoor segment is expected to grow at the highest pace in the forecast period due to government’s various highway projects, and deployments and maintenance of lights in parks, open public spaces, public parking, open theater., etc., as revealed by MarkNtel Advisors’ research report “Global Lighting as a Service Market Analysis, 2020”.

According to MarkNtel Advisors’, the market of the lighting as a service across the globe is highly fragmented due to the presence of numerous local and foreign players operating in the market. The companies with a considerable market share in the industry are General Electric Lighting, Koninklijke Philips N.V, Zumtobel Group AG, SIB Lighting, Lunera Lighting, IGOR Inc., Cree, Inc., RCG Lighthouse, Itelecom USA, Future Energy Solutions. The companies are expanding their portfolio and launching new solutions to gain customer’s traction and increase the market share in the industry. For instance, General electric launched “Lighting the way you live” in 2018, which is a voice-enabled solution.

“Global Lighting as a Service Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Lighting as a Services provider across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  
     
Market Segmentation:

1.    By Installation (Indoor, Outdoor)
2.    By End-User (Commercial, Industrial, Municipal)
3.    By Components (Luminaire & Control Equipment, Software & Communication Systems, Maintenance & Other Services)
4.    By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America)
5.    By Countries (U.S, Canada, Mexico, Brazil, Argentina, Colombia, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, Australia, Singapore, Malaysia, South Korea, Others)
6.    By Company (General Electric Lighting, Koninklijke Philips N.V, Zumtobel Group AG, SIB Lighting, Lunera Lighting,  IGOR Inc.,  Cree, Inc., RCG Lighthouse,  Itelecom USA, Future Energy Solutions, Others)

Key questions answered in the study:

1.    What are the current and future market trends of the Global Lighting as a Service industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the region followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for Global Lighting as a Service industry?
5.    What are the customer orientation, purchase behavior, and expectations from the Global Lighting as a Service firms across various regions?