Lighting as a Service Market- Global Forecast to 2021

“The lighting as a service market is projected to grow at a CAGR of 46.30% from 2016 to 2021”
The lighting as a service market is projected to reach USD 638.7 million by 2021, growing at a CAGR of 46.3% from 2016 to 2021. Lighting as a service (LaaS) is an enhanced form of lighting that is enabling the move from traditional lighting to smart lighting using sensors and Internet of Thing (IoT) technology to reduce energy cost and increase energy efficiency without any investment from the end-user. Increasing demand for energy efficient lighting and government policies and regulations for adoption of energy efficient lighting systems are expected to drive the lighting as a service market. Lack of awareness about the true value propositions of the lighting as service model is acting as a restraint for the growth of the lighting as a service market.
“Municipal end user segment is expected to grow at a highest CAGR”
The Municipal segment is expected to witness fastest demand during the forecast period. The municipal end users include lighting offered by local governments for streets, open public spaces, walkways, bridges, public parking areas, and highways. Plans to develop smart city infrastructure is driving municipalities to adopt advanced, intelligent lighting systems.
With regard to end-users, the commercial segment is estimated to constitute the largest segment of the lighting as a service market in 2016. 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.
“North America: The largest market for lighting as a service market”
North America is currently the largest market for lighting as a service, closely followed by Europe. The lighting as a service market in North America will be driven by demand from commercial establishments keen to leverage the cost saving potential of efficient lighting systems and contribute to the global movement to reduce energy consumption. The market in region is projected to grow at a high rate, with the U.S. estimated to register the fastest growth in the region. Europe is expected to grow at the highest CAGR during the forecast period owing to increasing demand from the commercial as well as industrial sectors.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 40%, Tier 2- 10%, Tier 3- 50%
By Designation: C-Level- 65%, D-Level- 25%, Others- 10%
By Region: Europe- 36%, North America- 22%, Asia-Pacific- 16%, Latin America-18, and Middle East & Africa- 8%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = > USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = < USD 1 billion.
The leading players in the lighting as a service market 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.) and Cree Inc. (U.S.).
Research Coverage:
 By End-User
The lighting as a service market, based on end-user, has been segmented into commercial, municipal, and industrial.

 By Component
The lighting as a service market, based on components, has been classified into luminaires and control equipment, software and communication systems and maintenance & other services. Other services includes energy auditing and designing, among others.
 By Installation
Based on installation, the lighting as service market has been classified into indoor and outdoor. The indoor segment comprises lighting systems installed in enclosed areas of a building or place. Whereas, the outdoor segment comprises lighting systems installed in open air areas of a building or place.
 By Region
The global lighting as a service market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
Why buy this report?
‧ The report identifies and addresses key markets for lighting as a service, which is useful for service providers to review the growth in demand for the service.
‧ The report helps service providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
‧ The report will help key players to better understand the competition’s strategies and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKETS COVERED 14
1.3.2 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 16
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 20
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 22
2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 23
2.4.1 ASSUMPTIONS 23
3 EXECUTIVE SUMMARY 24
3.1 INTRODUCTION 24
3.2 HISTORICAL BACKDROP, EVOLUTION, & CURRENT SCENARIO 25
3.3 FUTURE OUTLOOK 26
3.4 CONCLUSION 28
4 PREMIUM INSIGHTS 29
4.1 NORTH AMERICA IS EXPECTED TO HOLD THE LARGEST MARKET SHARE DURING THE FORECAST PERIOD 30
4.2 LIGHTING AS A SERVICE MARKET, BY END-USER 31
4.3 LIGHTING AS A SERVICE MARKET, BY INSTALLATION 31
4.4 LIGHTING AS A SERVICE MARKET, BY COMPONENT 32
4.5 NORTH AMERICA LIGHTING AS A SERVICE MARKET 32
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5 MARKET OVERVIEW 34
5.1 INTRODUCTION 35
5.2 MARKET SEGMENTATION 35
5.2.1 BY COMPONENT 36
5.2.2 BY END-USER 36
5.2.3 BY INSTALLATION 37
5.2.4 BY REGION 37
5.3 MARKET DYNAMICS 38
5.3.1 DRIVERS 38
5.3.1.1 Zero capital cost model & improved financial benefits 38
5.3.1.2 Government policies & regulations for adoption of energy-efficient lighting systems 39
5.3.2 RESTRAINTS 39
5.3.2.1 Lack of awareness about the value of a service oriented model of lighting 39
5.3.3 OPPORTUNITIES 40
5.3.3.1 Convergence of Internet of Things with lighting systems 40
5.3.3.2 Development of smart cities 40
5.3.4 CHALLENGES 40
5.3.4.1 Low-quality LED products flooding the market and their poor performance 40
6 LIGHTING AS A SERVICE MARKET, BY END-USER 41
6.1 INTRODUCTION 42
6.2 COMMERCIAL 44
6.3 MUNICIPAL 44
6.4 INDUSTRIAL 45
6.5 REGIONAL OVERVIEW 46
7 LIGHTING AS A SERVICE MARKET, BY INSTALLATION 49
7.1 INTRODUCTION 50
7.2 INDOOR 51
7.3 OUTDOOR 52
7.4 REGIONAL OVERVIEW 53
8 LIGHTING AS A SERVICE MARKET, BY COMPONENT 55
8.1 INTRODUCTION 56
8.2 LUMINAIRE & CONTROL EQUIPMENT 57
8.3 SOFTWARE & COMMUNICATION SYSTEMS 58
8.4 MAINTENANCE & OTHER SERVICES 59
8.5 REGIONAL OVERVIEW 59
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9 LIGHTING AS A SERVICE MARKET, BY REGION 62
9.1 INTRODUCTION 63
9.2 NORTH AMERICA 66
9.2.1 U.S. 67
9.2.2 CANADA 68
9.3 EUROPE 69
9.3.1 U.K. 70
9.3.2 NETHERLANDS 71
9.3.3 AUSTRIA 72
9.3.4 BELGIUM 73
9.3.5 REST OF EUROPE 74
9.4 ASIA-PACIFIC 75
9.4.1 INDIA 75
9.4.2 JAPAN 76
9.4.3 SOUTH KOREA 78
9.4.4 SINGAPORE 79
9.4.5 REST OF ASIA-PACIFIC 80
9.5 LATIN AMERICA 81
9.5.1 CHILE 81
9.5.2 COLOMBIA 82
9.5.3 REST OF LATIN AMERICA 83
9.6 MIDDLE EAST & AFRICA 84
9.6.1 UAE 85
9.6.2 REST OF THE MIDDLE EAST & AFRICA 86
10 COMPETITIVE LANDSCAPE 87
10.1 OVERVIEW 88
10.2 COMPETITIVE SITUATION & TRENDS 89
10.3 CONTRACTS & AGREEMENTS 90
10.4 PARTNERSHIPS & COLLABORATIONS 90
10.5 INVESTMENTS & EXPANSIONS 91
10.6 NEW SERVICE LAUNCHES 92
11 COMPANY PROFILES 93
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
11.1 INTRODUCTION 93
11.2 KONINKLIJKE PHILIPS N.V 94
11.3 GENERAL ELECTRIC LIGHTING 97
11.4 ZUMTOBEL GROUP AG 100
11.5 SIB LIGHTING 103
11.6 IGOR INC. 104
11.7 LUNERA LIGHTING 105
11.8 RCG LIGHTHOUSE 106
11.9 CREE, INC. 107
11.10 ITELECOM USA 109
11.11 FUTURE ENERGY SOLUTIONS 110
*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View might not be captured in case of unlisted companies.
12 APPENDIX 112
12.1 INSIGHTS OF INDUSTRY EXPERTS 112
12.2 DISCUSSION GUIDE 113
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 115
12.4 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 117
12.5 AVAILABLE CUSTOMIZATIONS 118
12.6 RELATED REPORTS 118