The report "Lighting as a Service Market by End-User (Commercial, Municipal, and Industrial), Installation (Indoor, and Outdoor), Component (Luminaires, Software & Communication Systems, and Maintenance Services), and Region - Global Forecast to 2021", The lighting as a service market is expected to grow from an estimated USD 95.3 Million in 2016 to USD 638.68 Million by 2021, registering a CAGR of 46.3% from 2016 to 2021.

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Objectives of the Study

• To define, describe, and forecast the global lighting as a service market by end-user, installation, component, and region
• To provide detailed information regarding major factors influencing the growth of the lighting as a service market (drivers, restraints, opportunities, industry-specific challenges, and burning issues related to the market)
• To strategically analyze the lighting as a service market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
• To strategically profile key players and comprehensively analyze their market shares and core competencies
• To track and analyze competitive developments such as contracts and agreements, expansions, new product developments, and mergers & acquisitions in the lighting as a service market

The report segments the lighting as a service market based on end-user industry into commercial, municipal, and industrial. The commercial segment dominated the end-user segment in 2015 and is expected to maintain its leading position throughout the forecast period. The municipal segment is projected to lead the market in terms of growth rate during the forecast period.

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In terms of installation, the outdoor segment is estimated to constitute the fastest growing segment in the market. The indoor segment held the largest market share in 2015 and is expected to dominate the market during the forecast period. Growing commercial sector in developing countries is the main driver behind the growth of the indoor segment in the lighting as a service market.

In this report, the lighting as a service market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the global lighting as a service market during the forecast period, owing to government support to replace traditional lighting system by energy efficient lighting systems.

The development of smart cities across the globe is expected to drive the growth of the lighting as a service market. Key benefits of using lighting as a service to end users include no upfront costs, reduced energy consumption, continuing cost savings, improved lighting experience, no maintenance liability, and the ability to procure add-on functions, and systems such as data collection, inter-device communication and remote management. Low quality LED products flooding the market have resulted in poor performance of the service. This poses a huge challenge for the lighting as a service market.

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