09.12.2022 13:39

Lighting-as-a-Service Market to Reach $11.8 Billion, Globally, by 2031 at 33.1% CAGR: Allied Market Research


Increase in adoption of lighting-as-a-service products, government policies and regulations regarding the adoption of energy efficient lighting systems, the convergence of IoT and lighting systems, and the development of smart cities drive the growth of the global lighting-as-a-service market.

PORTLAND, Ore., Dec. 9, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Lighting-as-a-Service Market by Component (Luminaries and Controls, Software and Communication Systems, Service), by Installation (Outdoor, Indoor), by End User (Commercial, Municipal, Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global lighting-as-a-service industry is estimated to generate $694.7 million in 2021 and $ $11.8 billion by 2031, witnessing a CAGR of 33.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.


Download Free Sample Report at:

Drivers, Restraints and Opportunities

Increase in adoption of lighting-as-a-service products, cost & energy saving properties of lighting-as-a-service, government policies and regulations regarding the adoption of energy efficient lighting systems, the convergence of IoT (Internet Of Things) and lighting systems, the development of smart cities, and improving economic conditions fuel the growth of the global lighting-as-a-service market. However, the lack of familiarity with new technology and lighting control products hinder the market growth. On the other hand, initiatives taken by government for energy efficiency and energy conservation to provide consumers with an informed choice about energy saving present new opportunities in the market in the coming years.

Covid-19 Scenario

  • The global lighting-as-a-service market witnessed a low growth during the COVID-19 pandemic. The supply chain was one of the first industries to be affected by the pandemic. Travel restrictions and logistics suspensions hampered the import of lighting supplies.
  • Furthermore, the lighting production facilities were closed as the workforce could not resume their duties due to lockdown.
  • The pandemic affected the allied sectors that are associated with the lighting as service market. The implementation of work-from-home policies also hindered the market growth.

The luminaries and controls segment to dominate the market in terms of revenue during the forecast period

Based on component, the luminaries and controls segment contributed to the largest share of more than half of the global lighting-as-a-service market in 2021, and is expected to lead the trail during the forecast period. This is because it helps to reduce the cost of lighting systems. However, the service segment is projected to witness the fastest CAGR of 37.0% from 2022 to 2031. This is owing to the surge in adoption of professional services for integration and deployment of lighting-as-a-service.

The indoor segment to maintain its dominance during the forecast period

Based on installation, the indoor segment held the largest share of more than three-fifths of the global lighting-as-a-service market in 2021, and is expected to maintain a prominent growth during the forecast period, as it is highly adopted by shopping complexes and halls for effective displays. However, the outdoor segment is likely to exhibit the highest CAGR of 35.7% in 2031, as lighting-as-a-service provides complete visibility and efficiency of all lighting systems.

The commercial segment to garner the largest revenue by 2031

Based on end user, the commercial segment was the largest market in 2021, accounting for nearly half of the global lighting-as-a-service market, and is likely to lead the trail throughout the forecast period, as lighting-as-a-service is highly used in development of commercial properties. However, the municipal segment is anticipated to manifest the fastest CAGR of 35.9% during the forecast period. This is due to the rise in smart city projects globally.

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32067

Asia-Pacific to garner the largest revenue and fastest growth by 2031

Based on region, North America was the largest market in 2021, accounting for nearly two-fifths of the global lighting-as-a-service market, owing to high rate of technology adoption and infrastructure development in the region. However, the market in Asia-Pacific is anticipated to manifest the largest revenue growth and grow at the fastest CAGR of 36.8% during the forecast period, owing to the growing digital and economic transformation in the region.

Leading Market Players

  • Eaton Corporation
  • Digital Lumens, Incorporated.
  • Every Watt Matters
  • Honeywell International Inc.
  • IGOR Inc.
  • Koninklijke Philips N.V.
  • Lutron Electronics Co., Inc.
  • OSRAM GmbH
  • Seiko Epson Corporation
  • Stouch Lighting

The report analyzes these key players of the global lighting-as-a-service market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Buy this Report at:

Trending Reports in ICT & Media Industry (Book Now with 10% Discount):

Mobile Application Market Expected to Reach $ 407.31 billion by 2026

Online/Virtual Fitness Market Expected to Reach $59.23 Billion by 2027

Fitness App Market Expected to Reach $120.37 Billion by 2030

Healthcare Analytics Market Expected to Reach $96.90 Billion by 2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Follow Us on Blog: https://www.technologyplz.com/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

Cision View original content:https://www.prnewswire.co.uk/news-releases/lighting-as-a-service-market-to-reach-11-8-billion-globally-by-2031-at-33-1-cagr-allied-market-research-301699206.html

Neue Funktionen als Erstes nutzen
Sie nutzen finanzen.net regelmäßig? Dann nutzen Sie jetzt neue Funktionen als Erstes!
Hier informieren!
Börse Stuttgart Anlegerclub

Heute im Fokus

Berichtssaison nimmt Fahrt auf: DAX geht kaum verändert ins Wochenende -- US-Börsen schließen im Plus -- Intel erleidet Gewinn- und Umsatzeinbruch -- Visa, Chevron, Mercedes-Benz, LVMH im Fokus

Ford ruft rund 462.000 Autos wegen mangelhafter Kameras zurück. Großaktionär stoppt Gespräche über Anteilsverkauf an PNE. Siemens Energy-Aktie: Wasserstoffallianz zwischen Deutschland und Australien. Schwelender Handelsstreit mit den USA: China hat den Ton verschärft. Lufthansa und Rom unterschreiben Absichtserklärung für Ita-Einstieg - Überprüfung von Firmensitz.


In Deutschland wird über eine mögliche Lieferung von Leopard-Panzern an die Ukraine diskutiert. Wie ist Ihre Meinung dazu?

finanzen.net zero
finanzen.net zero



Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln