LaaS Segmentation
Installation Type (Indoor, Outdoor)
The indoor segment is poised to hold a leading revenue share of 62.6% revenue share throughout the forecast period. The segment's heightened revenue share is reinforced by the surging demand in commercial office spaces, healthcare facilities, residential spaces, retail stores, etc. Indoor lighting systems solve critical pain points by mitigating energy use. In terms of successful use cases, Philips reported a 40% reduction in energy usage through the use of IoT-enabled indoor lighting systems via their sustainability report. The future outlook of the indoor segment is lucrative, with increasing demand predicted from the rising construction projects.
End user (Commercial, Municipal, Industrial)
The commercial sector of the lighting-as-a-service market is projected to expand during the forecast period. A significant factor is the rising energy costs, prompting a greater emphasis on energy savings. Additionally, the scalability of LaaS models fits seamlessly with the commercial requirement for easy upgrades. The largest demand for LaaS solutions is poised to remain consistent throughout the commercial sector, with application opportunities set to be rife in the emerging markets of APAC, due to the surging urbanization driving demand for heightened commercial construction activities.
Our in-depth analysis of the global lighting-as-a-service market includes the following segments:
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