Lighting as a service is expected grow rapidly during the next decade
A new report from Navigant Research analyzes the global market for lighting as a service (LaaS) in commercial buildings, with forecasts for revenue and square footage under LaaS management, segmented by region, service type, and building type, through 2025.
As light-emitting diode (LED) lighting proliferates and lighting controls systems expand the abilities of the technology that operates the lights, a related market is emerging. At the same time, a lack of experience with new lighting and lighting controls products is giving way to LaaS, shifting the way the solutions involved in a modern lighting system are provided to building end users. Click to tweet: According to a new report from @NavigantRSRCH, global LaaS revenue is expected to grow from $35.2 million in 2016 to $1.6 billion in 2025.
“Navigant Research defines LaaS as the third-party management of a lighting system that may include additional technical, maintenance, financial, or other services,” says Benjamin Freas, principal research analyst with Navigant Research. “These offerings can begin with the installation of a lighting system, continue through maintenance and management, andinclude the recycling or disposal of equipment at the end of its life.”
Currently, several companies are beginning to offer combinations of these lighting services as they experiment with how best to meet customer needs, according to the report. Navigant Research anticipates that these efforts represent the start of a trend that is expected to mature and grow rapidly during the next 10 years.
The report, Lighting as a Service, examines the global LaaS market for commercial buildings. The study provides an analysis of the market issues, technological developments, and regional trends related to LaaS, with a focus on four service types: professional, maintenance, managed, and others (such as financing). Global forecasts for revenue and square footage under LaaS management, segmented by region, service type, and building type, extend through 2025. The report also profiles select industry players and highlights the innovative ways they use networked lighting systems and cloud-based software to offer LaaS. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Lighting as a Service, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.