Strategies and Initiatives to Improve the Quality of Lighting as a Service

Lighting as a Service Market categorizes global market by End-User (Commercial, Municipal, and Industrial), Installation (Indoor, and Outdoor), Component (Luminaires, Software & Communication Systems, and Maintenance Services), and Region

Dallas, United States – September 4, 2017 /MarketersMedia/ —

The lighting as a service market is expected to grow at a CAGR of 46.3% from 2016 to 2021, to reach market size of USD 638.7 million by 2021. Growing demand for energy efficient lighting systems, and government policies supporting adoption of energy efficient systems are the major drivers of the lighting as a service market.

Browse 70 market data Tables and 50 Figures spread through 146 Pages and in-depth TOC on “Lighting as a Service Market” Refer Link: http://www.marketsandmarkets.com/Market-Reports/lighting-as-a-service-market-117526361.html

The lighting as a service market is dominated by few players that have a wide geographical presence and established brand names. Leading players in the lighting as a service industry include Koninklijke Philips N.V. (Netherlands), General Electric Lighting (U.S.), Zumtobel Group AG (Austria), SIB Lighting (U.S.), Lunera Lighting (U.S.), Igor Inc. (U.S.), Itelecom (Chile), and Cree Inc. (U.S.).

North America is expected to dominate the lighting as a service market from 2016 to 2021. The U.S. accounted for the largest share of the North American market in 2015. Europe is expected to be the fastest growing market during the forecast period. The U.K., Netherlands, and other European countries are expected to witness the fastest growth during the forecast period. Growing need to save energy, and government policies and regulations for adoption of energy efficient lighting systems are driving the growth of the lighting as a service market in the North American and European regions.

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The commercial segment is are expected to dominate the global lighting as a service market during the forecast period, and are expected to constitute the fastest growing segment, by end-user. The energy savings and cost reductions promised by lighting as a service constitute an attractive offer for commercial end users in view of the increasing corporate focus on sustainability and energy efficiency. The municipal segment is expected to grow at the highest CAGR during the forecast period.

Based on installation, the report segments the lighting as a service market into indoor and outdoor installations. The outdoor segment is estimated to lead the market in terms of growth rate during the forecast period, whereas the indoor segment held the largest market share in 2015. The growing commercial sector in developing countries is the main driver of the growth of the indoor segment in the lighting as a service market.

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Release ID: 235893