The global lighting as a service market size reached USD 1,212.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 19,111.7 Million by 2033, exhibiting a growth rate (CAGR) of 34.06% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 1,212.1 Million |
Market Forecast in 2033
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USD 19,111.7 Million |
Market Growth Rate (2025-2033) | 34.06% |
Lighting as a service (LaaS) refers to a service-based model that provides technical and financial management services to enable an easy switchover from old-style lighting to smart lighting. By using sensors and the Internet of Things (IoT) technology, it assists with the installation of lighting systems and recycling equipment, along with proper maintenance and management of the same. Furthermore, it does not demand upfront investments from end users as it requires charges on a monthly basis instead of a one-time fee for light services. Through the service, lighting retrofits are charged to customers as a part of an ongoing purchase agreement, which allows the cost to be spread out over the course of several months or years. Some of the key advantages of using lighting as a service include reduced energy consumption, continual cost savings, no maintenance liability, and the ability to add-on features, including data collection, inter-device communication, and remote management.
The market is majorly driven by the escalating demand for energy-efficient lighting systems across the globe. This can be attributed to the paradigm shift of the masses towards sustainable lighting solutions from conventional lighting. Moreover, continual product innovations and the launch of new products are providing an impetus to the market growth. Also, the rapid utilization of light-emitting diode (LED) as an energy-efficient lighting technology is creating a positive outlook for the market. Favorable policies and regulations adopted by government bodies of several countries for promoting energy conservation are acting as significant growth-inducing factors for the market. Some of the other factors contributing to the market include rapid urbanization and industrialization, the emergence of smart homes, the inflating disposable income levels of the masses ad extensive research and development (R&D) activities conducted by the key players.
IMARC Group provides an analysis of the key trends in each sub-segment of the global lighting as a service market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on component, installation, and end user.
Breakup by Component:
Breakup by Installation:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Acuity Brands Lighting Inc., Electricity Supply Board (ESB) Group, Enlighted Inc., Every Watt Matters, LumenServe Inc., RCG LightHouse, Signify N.V., Stouch Lighting and UrbanVolt.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Segment Coverage | Component, Installation, End User, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Acuity Brands Lighting Inc., Electricity Supply Board (ESB) Group, Enlighted Inc., Every Watt Matters, LumenServe Inc., RCG LightHouse, Signify N.V., Stouch Lighting and UrbanVolt. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global lighting as a service market was valued at USD 1,212.1 Million in 2024.
We expect the global lighting as a service market to exhibit a CAGR of 34.06% during 2025-2033.
The rising demand for lighting as a service, as it offers reduced energy consumption, continual cost savings, no maintenance liability, etc., is primarily driving the global lighting as a service market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for lighting as a service.
Based on the installation, the global lighting as a service market has been categorized into indoor and outdoor. Currently, indoor accounts for the majority of the total market share.
Based on the end user, the global lighting as a service market can be bifurcated into commercial, industrial, municipal, and others. Among these, commercial exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global lighting as a service market include Acuity Brands Lighting Inc., Electricity Supply Board (ESB) Group, Enlighted Inc., Every Watt Matters, LumenServe Inc., RCG LightHouse, Signify N.V., Stouch Lighting, and UrbanVolt.