Navigant Research report shows global Revenue for Lighting as a Service is expected to reach $2.6 bn by 2026

A new report from Navigant Research examines the global market for lighting as a service (LaaS) solutions in commercial buildings, providing market forecasts for revenue through 2026, as well as details on related services and the competitive landscape.

LaaS is the third-party management of a lighting system, including additional maintenance, financial, technical, or operational services. As more lighting products and controls come to market, LaaS is expected to experience a boost from customers who need assistance in choosing and maintaining up-to-date technologies that can provide cost savings to their businesses.

“We are seeing a shift in the LaaS market from a traditional financing model to an increased number of turnkey services, which provide the customer with a full-scale offering from audit and design to installation to management and maintenance of the system,” says Krystal Maxwell, research analyst with Navigant Research.

“The as a service business model, which shifts business spending from CapEx to OpEx, allows companies to focus on their core business areas and ensures the outsourced business (LaaS) is being kept up to date with market developments by the service provider, especially through the growing number of turnkey services.”

Krystal Maxwell

According to the report, this shift in business spending is the beginning of a trend that is anticipated to become more common over the next 10 years. Additional market growth is expected to be driven by a maturing LED market, interest in the Internet of Things (IoT) applications, and increases to the bottom line.

The reportLighting as a Service, examines the LaaS market for commercial buildings, with a focus on financing, maintenance, and turnkey services. The study addresses market issues, including key drivers and barriers, related to LaaS solutions. Global market forecasts for LaaS revenue, segmented by service type, building type, and region, extend through 2026. The report also examines the key services related to LaaS, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

RECENT ARTICLES

Nordic-powered smart utility access cover offers anti-theft protection and detects open/close events

Posted on: August 16, 2022

Oslo, Norway – China-based Jian-IOT has launched a smart utility access cover that can detect when the cover has been opened or closed, records water level and temperature data, identifies any damage, and includes an anti-theft system that tracks the current location of the device. The ‘Integrated Intelligent Manhole Cover’ employs Nordic’s nRF52832 SoC to both act

Read more

Helbiz to offer on-demand taxi services to widen international intermodal offering

Posted on: August 16, 2022

New York, United States – Helbiz, a global provider in micro-mobility, announced the beginning of a new chapter for its intermodal mobility offering, Helbiz Taxi. The micro-mobility company aims to integrate mobility services around the world in its app to widen the intra and extra urban mobility offerings to include vehicles from additional companies with

Read more
FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox