Wednesday, December 19, 2018
News
NEWS HOME
»
PRN INDIA
Lighting-as-a-Service Disrupts the LED Lighting Industry by Enabling a Market Shift to an OPEX Model
  SocialTwist Tell-a-Friend  
   

LED solution providers to explore unconventional application areas as general lighting applications near saturation, finds Frost & Sullivan  

SANTA CLARA,  California, Dec. 3, 2018 /PRNewswire/ --  The declining price of light emitting diode (LED) sources and the subsidies for LED in several countries have increased the solution's attractiveness in application segments where it was previously considered prohibitive. The advent of Internet of Things (IoT) and subsequent introduction of new business models such as Lighting-as-a-Service (LaaS) has eliminated the need for high upfront payments, allowing the market to shift to an OPEX model. The leasing model has enabled large-scale installations of LED light, as well as their adoption in the residential segment.

Frost & Sullivan's recent analysis, Global LED Lighting Market (2018 Update), offers a detailed analysis of the market, covering the application segments of residential, retail, architectural, outdoor, office, industrial, and hospitality. The study also focuses on the technology roadmap, distribution channel by application, price trends, and growth opportunities, and provides a breakdown of revenue in the regions of North America; Europe; Latin America; the Middle East and Africa; and Asia-Pacific.

For further information on this analysis, please visit: http://frost.ly/2xo

"IoT has established a highly complex ecosystem of connected lighting for better energy and cost management," said Dennis Marcell Victor, Senior Research Analyst for Energy & Environment at Frost & Sullivan. "Lighting will transition from illumination-based applications to data-enabled services that offer a rich end-user experience. Data transmission through visible light spectrum will even complement existing data transfer technologies like Wi-Fi, and augment indoor connectivity. Early-mover lighting companies that offer intelligent lighting services will be best positioned to monetize the LaaS model."

In addition to reduced costs and novel business models, the LED lighting market has received a huge boost from the rising awareness of the health benefits of LED.

"LED lighting allows users to control the solution's luminous intensity to suit the environment and occupants," noted Victor. "Companies in North America are already working on LEDs that have less blue light to improve human health and productivity."

Owing to these product benefits, the global LED market is expected to grow at a compound annual growth rate of 8.96 percent between 2017 and 2024, in spite of the challenge from compact fluorescent lamps (CFLs). The most promising growth opportunities will lie in:

  • Improving power efficiency through integrated control devices. Incorporation of sensors will help control dimming, phase dimming, and colour mixing to create a better light experience for customers.
  • Acquiring niche service providers to expand product portfolio.
  • Using innovative material to enhance device efficiency and light output, and replacing expensive substrate materials with cheaper alternatives.
  • Expanding the application scope of the solutions to cover unconventional uses human health, medicine, and horticulture.

Global LED Lighting Market (2018 Update) is part of Frost & Sullivan's global Homes & Buildings Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Global LED Lighting Market (2018 Update)
MDEF-19

Contact:
Jaylon Brinkley
T) +1 210 247 2481
E) jaylon.brinkley@frost.com

http://ww2.frost.com

 

More News by PR Newswire India

Bentall Kennedy and GreenOak Real Estate announce merger to form Bentall GreenOak, global real estate investment platform

Mumbai Jewellery & Gem Fair to Showcase Statement Pieces From Prime Indian Jewellers

Essence takes on integrated media duties for Airtel

JA Solar Supplies Modules for the First 3MW Bifacial Mono PERC Double Glass Solar Project in Brazil

Metasys(R) 10.0 redefines modern building management

Lipofilling, Expanded Stem Cells Are a Valuable Alternative to Breast Implants

Locus Chain to Launch a Digital Asset Exchange Platform in Dubai

Wood Adhesives Manufacturers Focus their Growth Strategy on Furniture, Building and Construction Industries

The Commonwealth Of The Bahamas New Visa Waiver Policy for Indian Nationals Holding Canadian, Schengen, USA and UK Visas

Big Data and IoT Advancements Drive Growth Opportunities for Prognostics in Commercial Vehicles

Supermicro Report Highlights Environmental Impact of Today's Cloud-Scale Data Centers

HTC Partners With China Mobile To Expand Its 5G Vision Globally

HUAWEI P20 Pro Honoured at the Prestigious News18 Tech and Auto Awards for Best Camera Phone of the Year

Intermarché maps its own-brand organic products using SGS Transparency-One

Xevo Recognized by Frost & Sullivan for its Groundbreaking Xevo Market Automotive Commerce and Services Platform

TATA Projects Builds Prayagraj Airport Terminal in 11 Months

New Report Explores Digital Travel Commerce and Payments Needs in Latin America & Caribbean

ThroughPut Inc Announces the Formation of Executive Advisory Board, Welcomes New Members

27th Mega Eye Camp Held at Dera Sacha Sauda

Mumbai to get its First Professionally Managed Self-redevelopment Project by Wedevelopment

ARLANXEO's Keltan(R) KSA opens flagship online Customer Self-Service Platform

Western Digital Hosts 'Data Innovation Bazaar' in Association With 'Startup India' and 'Invest India'

GIIS Chinchwad Amongst 0.1% Schools in India to Receive Cambridge Affiliation

Munters Wins Three Large Air Treatment Orders in China

Datamatics Recognized as the Best Cognitive Technology Provider by Computer Society of India, Mumbai

Indiannica Learning Organizes English Language Training (ELT) Workshop and Product Launch

Nishchae Suri to Join the Global Management Executive Team at EdCast

'Marketing Success Formula' a New Book by Rajesh Srinivasan (an IIM-L Alumnus) Reveals Four Proven Steps for Business Growth

HopOn India to Participate in Comic-Con 2018

Lenovo and Intel's Much-anticipated Legion of Champions III 2019 is Here and Raring to Go

UST Global Awarded 'Top Employers in the APAC for 2019' by the Top Employers Institute

Singapore Post eCommerce Division Recognised at the 2018 Asia eCommerce Awards

Empire State Building And Interscope Records, Along With iHeartMedia, Promise A "White Christmas" With Annual Holiday Music-To-Light Show Featuring OneRepublic

Shoclef Presents Live Shopping in the Global Marketplace

Ski Season Opens at Lotte Arai Resort on December 15

AWE 2019 releases new theme: Falling in love with AI - Smart Life

New Report Shows Rapid Damage to Milk Nutrients by Light

Artificial Intelligence Is Propelling the Pharmaceutical Industry by Enabling Smart Drug Discovery Solutions

Few Months Into the Launch, NowPaaS is Already a Success; Has Serviced More Than 100+ Manufacturers

Cityzenith's Smart World Proâ„¢ Digital Twin Software Platform Selected for New Capital City in India

Frost & Sullivan Applauds VMware for Global Software-Defined Wide Area Networking (SD-WAN) Market Leadership

The Rise of Industrial IoT Drives the Adoption of Predictive Inspection Models in Non-destructive Testing

After New Delhi, Indus Towers now Deploys 50 Intelligent Poles in Vadodara Under Government's Smart City Mission

Systech Releases Expanded Cloud Platform to Secure Global Supply Chains

KC Valley: MEIL’s another Glory

Top IT Jobs in Demand in India, Revealed by Simplilearn Study

Maxim India Achieves the Distinction of India's First Progressive 3D Mainstream Magazine Cover - Courtesy OnePlus

Microland Wins Best Practice Award at the NHRD TecHeaRt 2018

Kerala Tourism Launches International Children's Online Painting Competition 2018 in Memory of Edmund Thomas Clint

Fosun's Protechting Program wins UNGC's China Network award for its Sustainable Development in China

Cross-border Data Flows Fundamental for AI Growth in India

Affle Wins Big at MOBEXX Awards 2018

BioNet reports on persistence of antibody responses of recombinant pertussis vaccines in the Lancet Infectious Diseases

Datamatics to Demerge and Separately List its Subsidiary Lumina Datamatics

Dunya Labs Brings EOS Blockchain to India With Catalyst

Exclusive Launch: Karan Wahi X Spoyl Collection

Join in the 2018 world-leading Tea Fair with the gracious invitation extended by Huajuchen

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Cold Delhi morning with very poor air...
India retains highest aviation safety ra...
Rahul takes tuition to dream, what to sp...
Vyapam scam: CBI court sentences 1 accus...
BJP MP son sent to jail in SC/ST Act...
Odisha BJP chief demands loan waiver for...
More...    
 
 Top Stories
Shuttlecock makers in Bengal's Ulub... 
I got my first negative review afte... 
BJP showing Parrikar as 'He-man, Su... 
Sonu Nigam clarifies his comment on... 
Most firms bet big on 5G but wary o... 
AgustaWestland case: CBI opposes Ch... 
Unaware of 2020 Sikh referendum cam... 
Cricket Ireland to offer profession...