Lighting-as-a-Service (LaaS) Market Analysis

The market is segmented based on installation type into indoor and outdoor, out of which, the indoor segment is anticipated to grab the largest share by the end of 2021 on account of high rate of adoption of Lighting-as-a-Service in commercial establishments. Moreover, there has been a significant growth of commercial sector in developing countries, which is also projected to contribute to the growth of the segment during the forecast period. On the basis of end-user, the municipal segment in the global lighting-as-a-service (LaaS) market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that Lighting-as-a-Service (LaaS) is being adopted by major cities because of its energy and cost saving advantages over traditional lighting systems.

Our in-depth analysis of the global market includes the following segments

By Installation Type	Indoor Outdoor
By End-User	Commercial Municipal Industrial

Frequently Asked Questions (FAQ)

Rising need for energy-efficient lighting systems and absence of any upfront investment in LaaS adoption are the key factors driving market growth.

The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.

Dumping of low-quality lighting products in the market and lack of expertise in new technology are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the growth of many smart cities in the countries of the region which require smart lighting solutions on a large scale.

The major players dominating the lighting-as-a-service (LaaS) market are Koninklijke Philips N.V., Acuity Brands, Inc., General Electric Lighting, Inc., and Lutron Electronics Company among others.

Lighting-as-a-Service (LaaS) Market Analysis