BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research analyzes the global market for lighting as a service (LaaS) in commercial buildings, with forecasts for revenue and square footage under LaaS management, segmented by region, service type, and building type, through 2025.
The lighting industry is in the midst of upheaval. LED lighting is rapidly taking over from incumbent technologies and lighting controls systems are greatly expanding the abilities and sophistication of the technology that operates the lights; these changes set the stage for the rise of LaaS. Click to tweet: According to a recent report from @NavigantRSRCH, global revenue for lighting as a service is expected to total nearly $5.8 billion from 2016 to 2025.
“LaaS is defined broadly as the third-party management of a lighting system that may include additional technical, maintenance, financial, or other services,” says Benjamin Freas, principal research analyst with Navigant Research. “As the installed base of lighting is gradually replaced by longer lasting LEDs, many companies are turning to offering lighting control systems and services to maintain revenue.”
Advanced lighting controls systems can save significant amounts of energy when operated in an optimized way, according to the report. Turning over the management of these systems to an expert third party ensures savings and informs space-use decisions and facilities management by guaranteeing that evolving building codes and energy standards are met and that increasingly more complex systems are correctly operated.
The report, Lighting as a Service, examines the global LaaS market for commercial buildings. The study provides an analysis of the market issues, technological developments, and regional trends related to LaaS, with a focus on four service types: professional, maintenance, managed, and others (such as financing). Global forecasts for revenue and square footage under LaaS management, segmented by region, service type, and building type, extend through 2025. The report also profiles select industry players and highlights the innovative ways they use networked lighting systems and cloud-based software to offer LaaS. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Lighting as a Service, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.