Lighting as a Service Market Report and Forecast 2025-2034

The global lighting as a service market is expected to grow at a CAGR of 50.00% in the forecast period of 2025-2034.

North America and the Asia Pacific to Hold Significant Shares in the Global Market for Lighting as a Service

North America is expected to be one of leading regions augmenting the growth of the global market during the forecast period, owing to increasing government efforts aimed at replacing traditional lighting systems with energy-efficient lighting systems. The development of smart cities in the US and Canada is anticipated to further foster the adoption of lighting as a service (LaaS) and contribute to the market growth. Hence, the rise in the demand for lighting systems that propel the efficiency of the system, and reduce costs are some factors providing impetus to the market growth.

Following North America, the Asia Pacific region is expected to grow at a considerable rate during the forecast period. This can be attributed to regional manufacturers' rapid production of sustainable lighting systems. In addition, the increasing expenditure on home modification and the robust demand for lighting fixtures and lamps in countries like Australia are expected to boost the adoption of the LaaS business model in the region, thereby favouring the growth of the market.

Lighting as a Service: Market Segmentation

Lighting as a service (LaaS), variously known as light as a service, refers to a service-based model that is used to provide technical, financial, and managing services, such as installing a lighting system, recycling equipment, maintenance and management services. It is a model that charges for light service on a subscription basis instead of a one-time payment. The adoption of LaaS enhances energy efficiency, manages smart loads, and provides cost-effectivity.

Breakup by End User

• Commercial
• Outdoor
• Industrial

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Rising Adoption of Energy Efficient Lighting Systems Augmenting the Market Growth

The growth in the global market for lighting as a service can be attributed to the increasing demand for energy-efficient lighting systems, zero capital cost requirement, and growing convergence of the Internet of Things (IoT) in lighting systems to decrease energy consumption over the world. The development of smart cities across the world is expected to emerge as a key factor driving the market growth of lighting as a service. Further, the market is being stimulated by the financial benefits offered by LaaS, such as instant return on investment, no upfront capital cost, and implementation of favourable government policies, and regulations promoting the adoption of energy-efficient lighting systems.

In addition, the widespread adoption of smart lightings in commercial areas is further positively influencing the market growth of lighting as a service (LaaS). Moreover, shifting preference towards sustainable lighting solutions and the emergence of LED as an energy-efficient lighting technology are emerging to be significant factors determing the growth of the market. Hence, these are some of the factors pushing the growth of the market.

Key Industry Players in the Global Lighting as a Service Market

The report gives a detailed analysis of the following key players in the global lighting as a service market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Every Watt Matters
• Stouch Lighting
• Electricity Supply Board (ESB) Group
• LumenServe Inc
• RCG Lighthouse
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.