Ann: Origin and Vivid Partner to Deliver Lighting-as-a-Service, page-32

https://www.navigantresearch.com/ne...vice-is-expected-to-reach-2-6-billion-by-2026

According to a new report from Navigant Research, global revenue for lighting as a service (LaaS) in commercial buildings is expected to grow from $663 million in 2017 to $2.6 billion by 2026, a compound annual growth rate of 16.6 percent.

As more lighting products (especially LEDs) and advanced controls come onto the market, and as the internet of things (IoT) continues to expand, the popularity of LaaS is expected to grow, as more and more customers seek the convenience of a third party in managing all aspects of their lighting systems.

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.

According to another report from Zion Market Research ("Lighting as a Service: Global Industry Analysis, Size, Share, Growth, Trends and Forecasts 2016–2024"), the growing demand for energy-efficient lighting is expected to augment the growth of LaaS. In addition, there are government guidelines and regulations for the implementation of energy-efficient lighting systems.