Global Lighting as a Service Market to Witness Impressive Growth $28170.54 Million By 2032

According to a report from Zion Market Research, the global Global Lighting as a Service Market was valued at USD 824.2 Million in 2023 and is projected to hit USD 28170.54 Million by 2032, with a compound annual growth rate (CAGR) of 42.4% during the forecast period 2024-2032.

Increasing demand for energy efficient lighting system To Spur Growth

Owing to rising demand for the energy, the efficient lighting is expected to augment global lighting as a service market growth. Government guidelines and regulations for implementation of energy-efficient lighting systems are projected to propel the global market in the coming future. Several benefits offered by the lighting as a service include ensuring cost savings, no safeguarding charge, which is forcing countries to use lighting as a service model, no straight costs and reduction in energy consumption may foster the global lighting as a service market growth in future.

Companies focus on new business strategies to enhance the global market share by adopting new products and techniques, partnerships & collaborations, mergers & acquisitions, which may positively impact the global market in the near future. Conversely, lack of responsiveness regarding true value propositions of the lighting as service system may hinder the global lighting as a service market growth to some extent.

Major companies in Global Lighting as a Service Market are Future Energy Solutions, RCG Lighthouse, Koninklijke Philips N.V, Lutron Electronics Company, Inc., Itelecom USA, Cree Inc., and Lunera Lighting.

Adoption of energy efficient lighting systems to show Growth in North American Region

The global lighting as a service market is geographically segmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific contributed for the largest market share in the global market. In addition, development of smart cities in this region is anticipated to foster the global lighting as a service market growth.

The North American region is estimated to dominate the worldwide Lighting as a Service market within the forecast period, due to the government policies & regulations regarding the adoption of efficient lighting systems across the region. The United States is one of the major countries with significant development in electricity consumption, and is adopting various plans to increase the efficiency of the lighting system in the country. There is a huge presence of key players in this region that complements the growth with strong capability of R&D and technology.

Browse the full “Global Lighting as a Service Market By Components (Luminaries & Control equipment, Software & Communication systems and Maintenance & other services), By Installation (Indoor and Outdoor) and By End Use Industry (Commercial, Municipal and Industrial): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/lighting-as-a-service-market

The Global Lighting as a Service Market is segmented as follows:

By Components

• Luminaries and Control Equipment
• Software and Communication System
• Maintenance and others

By Installation

• Indoor
• Outdoor

By End Industry User

• Commercial
• Municipal
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com