Europe Lighting-as-a-Service (LaaS) Market Analysis, Scope: Competitive Analysis and Forecast to 2028

New York, United States, Wed, 16 Mar 2022 13:14:37 / Comserve Inc. / -- The Europe LaaS market, which registered a value of EUR 250.0 million in the year 2019, is anticipated to achieve a CAGR of 26.5% during the forecast period, i.e. 2020-2028.

Research Nester has released a reporttitled "Europe Lighting-as-a-Service (LaaS) Market -Demand Analysis & Opportunity Outlook 2028" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.

There is an increasing need amongst every organizations to lower their operational costs and maximize profits. One such major focus areas where organizations often spend more is for the maintenance of light or light fixtures. As a result, there is an increasing need amongst organizations to lower their operational expenses by availing flexible subscription models such as LaaS, which is anticipated to drive the growth of the Europe LaaS market. Additionally, the paradigm shift towards smart lighting technology, rising need amongst business organizations for cost effective alternatives, and the advancements in lighting technology, are some of the additional factors anticipated to drive the growth of the Europe LaaS market in the coming years.

The Europe LaaS market, which registered a value of EUR 250.0 million in the year 2019, is anticipated to achieve a CAGR of 26.5% during the forecast period, i.e. 2020-2028, owing to the rising construction activity in the region,increasing construction of smart cities in Europe,increasing number of small and large projects across several end user verticals,along with the increasing use of LED and HID in the lighting industry.Additionally, the LaaS market in Europe is also anticipated to cross a value of EUR 2016.2 million by the end of 2028.

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The Europe LaaS market is segmented by component into hardware, software and services.Increasing developments observed in the energy & utility industry, for instance, replacement of conventional use of metal halide (MH) lamps with the use of LED lamps to save energy, coupled with the emergence of wireless hardware lighting solutions in the market to simplify the challenges related to wiring structures are some of the factors anticipated to drive the growth of the hardware segment. Additionally,rising implementation of software for lighting solutions and the need for advanced technology-based solutions in the lighting industry are some of the factors anticipated to drive the growth of the software segment.

However, concerns for the low replacement rates of the installed lighting systems, coupled with thelack of awareness amongst end users, available of counterfeit and low-quality products are some of the factors anticipated to hamper the growth of the Europe LaaS market.

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This report also studies existing competitive scenario of some of the key players of theEurope LaaS market, which includes profiling of Koninklijke Philips N.V. PHIA, Illuxtron International, GE Lighting GE, OMS spol. s r.o., Halla, a.s. (KRX: 014790), ADUROLIGHT, Osram Licht AG OSR, OPPLE Lighting Co., Ltd. (SHA: 603515) and Cree Lighting CREE.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the reporttitled "Europe Lighting-as-a-Service (LaaS) Market - Demand Analysis & Opportunity Outlook 2028", analyses the overall EuropeLaaS industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in theEurope LaaS market in the near future.

About Research Nester

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