Zion Market Research Lighting as a Service Market, 2016–2024 | Page 3

Lighting as a Service Market
Global Lighting as a Service Market: Growth Factors
Owing to rising demand for the energy, the efficient lighting is expected to augment global lighting as a service market growth. Government guidelines and regulations for implementation of energy-efficient lighting systems are projected to propel the global market in the coming future. Several benefits offered by the lighting as a service include ensuring cost savings, no safeguarding charge, which is forcing countries to use lighting as a service model, no straight costs and reduction in energy consumption may foster the global lighting as a service market growth in future. Companies focus on new business strategies to enhance the global market share by adopting new products and techniques, partnerships & collaborations, mergers & acquisitions, which may positively impact the global market in the near future. Conversely, lack of responsiveness regarding true value propositions of the lighting as service system may hinder the global lighting as a service market growth to some extent.
Global Lighting as a Service Market: Segmentation
The global lighting as a service market is categorized based on components as maintenance & other services, luminaries & control equipment, and software & communication systems. Based on installation, the global market is divided as outdoor, and indoor. Further, the global market is divided based on end-user as municipal, commercial, and industrial.
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