Global Lightning As A Service Market Growing At A CAGR Of Approximately 37.2% by 2026

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Over the last few years, facility management has faced a major disruption with the increasing demand for energy-efficient lighting. In developed countries, there is a gradual decrease in the use of conventional lighting. For example, the US has eclipsed conventional lighting since the Energy Independence and Security Act (EISA) was passed in 2007. The LED lighting market has become vital to meet the EISA energy standard. Lighting as a Service (LaaS) is an emerging technology service trend, where a business or customer pays a monthly rent to the lighting service providers.

The global Lightning as a Service market was valued at US$ 173.7 million in the year 2018 and is expected to reach US$ 844.6 million by the year 2023, growing at a CAGR of approximately 37.2%. The LaaS market is driven by factors such as less than minimum capital cost model & financial benefits, coupled with government policies related to the adoption of energy-efficient lightings. However, the quality issues with LED products are restraining the growth of the market.

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The lighting industry is facing disruptions due to the shift from conventional lighting to energy-efficient lighting. Owing to this change in the industry, LED lighting has become more popular for business uses. The unreliability of conventional lighting is propelling the adoption of LaaS products. The lighting as a service market is segmented on the basis of components, installation, and end-user. Based on installation, the indoor segment of the market accounts for a larger share due to the increasing demand for LaaS from the commercial sector. Geographically, North America is holding the largest share in the market, owing to government regulations on the adoption of energy-efficient lighting. 

Table of Content

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope

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1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Approach Adopted
1.3.4.1 Top-Down Approach
1.3.4.2 Bottom-Up Approach
1.3.5 Assumptions
1.4 Market Segmentation Scope

Chapter 2 Executive Summary
2.1 Market Summary
2.1.1 Global Lighting as a Service Market, 2016-2023, (US$ Mn)
2.1 Market Snapshot: Global Lighting as a Service Market
2.2 Market Dynamics
2.3 Global Lighting as a Service Market, by Segment, 2018
2.3.1 Global Lighting as a Service Market, by Components, 2018, (US$ Mn)
2.3.2 Global Lighting as a Service Market, by Installation, 2018, (US$ Mn)
2.3.3 Global Lighting as a Service Market, by End-user, 2018, (US$ Mn)
2.3.4 Global Lighting as a Service Market, by Region, 2018 (US$ Mn)
2.4 Premium Insights
2.4.1 Lighting as a Service Market In Developed Vs. Developing Economies, 2018 vs 2023
2.4.2 Global Lighting as a Service Market: Regional Life Cycle Analysis

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Chapter 3 Market Dynamics
3.1 Market Overview
3.2 Market Drivers
3.2.1 The minimum capital cost and financial benefits offered by this service
3.2.2 Driver 2
3.3 Market Restraints
3.3.1 Quality issues related to LED products
3.3.2 Restraint 2
3.4 Market Opportunities
3.4.1 Increasing adoption of energy efficient lighting services.
3.5 Industry Value Chain Analysis
3.5.1 Analyst’s Views
3.6 Industry SWOT Analysis

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