Navigant Research Report Shows Global Revenue for Lighting as a Service is Expected to Reach $2.6 Billion by 2026

As a service models represent a shift in business spending and the
beginning of a trend that is anticipated to become more common over the
next 10 years

BOULDER, Colo.–(BUSINESS WIRE)–#CommercialBuildings–A new report from Navigant
Research examines the global market for lighting as a service (LaaS)
solutions in commercial buildings, providing market forecasts for
revenue through 2026, as well as details on related services and the
competitive landscape.

LaaS is the third-party management of a lighting system, including
additional maintenance, financial, technical, or operational services.
As more lighting products and controls come to market, LaaS is expected
to experience a boost from customers who need assistance in choosing and
maintaining up-to-date technologies that can provide cost savings to
their businesses. Click
to tweet: According to a new report from @NavigantRSRCH,
global LaaS revenue is expected to grow from an estimated $662.6 million
in 2017 to $2.6 billion by 2026, experiencing a compound annual growth
rate of 16.6 percent.

“We are seeing a shift in the LaaS market from a traditional financing
model to an increased number of turnkey services, which provide the
customer with a full-scale offering from audit and design to
installation to management and maintenance of the system,” says Krystal
Maxwell, research analyst with Navigant Research. “The as a service
business model, which shifts business spending from CAPEX to OPEX,
allows companies to focus on their core business areas and ensures the
outsourced business (LaaS) is being kept up to date with market
developments by the service provider, especially through the growing
number of turnkey services.”

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.

The report, Lighting
as a Service, examines the LaaS market for commercial buildings,
with a focus on financing, maintenance, and turnkey services. The study
addresses market issues, including key drivers and barriers, related to
LaaS solutions. Global market forecasts for LaaS revenue, segmented by
service type, building type, and region, extend through 2026. The report
also examines the key services related to LaaS, as well as the
competitive landscape. 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.

About Navigant

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.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com