Lighting as a Service Market : A Look at the Industry's Current and Future State
31 Mar, 2025
The Lighting as a Service Market was worth US$ 0.94 Billion in 2023 and is expected to grow at a CAGR of 44.8% to an estimated revenue of US$ 12.60 Billion by 2030..
The Lighting as a Service (LaaS) market is gaining momentum as businesses and municipalities seek cost-effective and energy-efficient lighting solutions without the burden of upfront capital investment. LaaS offers a subscription-based model where service providers handle the design, installation, maintenance, and upgrades of lighting systems, typically using LED technology. This model reduces operational costs, improves sustainability, and ensures compliance with evolving energy efficiency regulations. The increasing adoption of smart lighting solutions integrated with IoT and cloud-based analytics is further propelling the market, allowing businesses to optimize energy consumption and enhance workplace productivity.
The growth of the LaaS market is being driven by rising demand across industries such as commercial real estate, healthcare, manufacturing, and government sectors. With growing environmental awareness and stringent energy efficiency mandates, organizations are shifting toward service-based lighting solutions that provide long-term savings and reduced carbon footprints. Additionally, technological advancements in adaptive lighting controls and wireless networking are enhancing the appeal of LaaS, enabling businesses to customize lighting based on occupancy and real-time energy usage. As financing models become more flexible, the LaaS industry is expected to witness rapid expansion, creating new opportunities for service providers and technology innovators in the coming years.
The study on the Global Lighting as a Service Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Lighting as a Service market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Lighting as a Service industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Lighting as a Service industry.
Major companies profiled in the market report include
Acuity Brands .Ameresco . Cree, Inc. .Digital Lumens .Eaton . General Electric . Honeywell Illumitex .Infineon Technologies .Legrand .Lutron Electronics. Lunera Lighting
Research objectives:
The report studies the historical data of the Lighting as a Service market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Lighting as a Service industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Lighting as a Service market.
It has segmented the global Lighting as a Service market
by Type
Hardware
Software & Services
Installation & Design Services
Financing & Maintenance Services
by Technology
LED Lighting
Fluorescent Lighting
Other
Key Objectives of the Global Lighting as a Service Market Report:
Analysis and estimation of the Lighting as a Service market size and share for the projected period of 2024-2032
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Lighting as a Service market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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