Global Lighting Digital Service Growth Opportunities

Global Lighting Digital Service Growth Opportunities

Energy Efficiency and Sustainability Goals to Drive Lighting Digital Services’ Future Growth Potential

RELEASE DATE
30-Aug-2023
REGION
Global
Research Code: PEFC-01-00-00-00
SKU: EN_2023_114
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Description

This Frost & Sullivan study explores the lighting industry's dynamic landscape, with a focus on the adoption of digital technologies to revolutionize lighting systems for built environments. Frost & Sullivan estimates the market to grow at a compound annual growth rate (CAGR) of 18.4% between 2022 and 2028.

The escalating global demand for energy-efficient solutions and sustainability initiatives acts as a primary driver for the adoption of lighting digital services. Technological advancements, including the Internet of Things (IoT) and Artificial Intelligence (AI), have enabled the integration of smart lighting systems with intelligent control mechanisms into buildings, providing improved energy optimization and operational efficiency. In addition, the proliferation of smart city projects and the increased focus on smart infrastructure, such as smart streetlighting, drives the demand for connected and automated lighting services.

Despite promising growth prospects, the global lighting digital services market faces challenges in terms of high initial implementation costs and a lack of standardized protocol for interoperability. Moreover, concerns regarding data security and privacy in IoT-driven lighting systems pose significant restraints to the market's expansion.

This study highlights market revenue and end-user vertical share along with a competitive overview. It features research findings from customer analysis on awareness, implementation, contract duration, perceived benefits, and service provider selection criteria.

Several growth opportunities that can catalyze the lighting digital services market are evaluated. Smart streetlighting initiatives are expected to witness substantial growth as cities invest in energy-efficient lighting solutions to reduce costs and enhance public safety. The study also highlights the role of digital lighting in vertical farming, the incorporation of lighting systems to improve occupant well-being, and the adoption of integrated lighting digital services that optimize energy consumption and reduce environmental impact.

Author: Dennis Marcell Victor

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Lighting Digital Services Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Value Chain Assessment

Lighting Digital Services Enabling UN SDGs

Growth Drivers

Growth Driver Analysis

Growth Driver Analysis (continued)

Growth Driver Analysis (continued)

Growth Driver Analysis (continued)

Growth Restraints

Growth Restraint Analysis

Growth Restraint Analysis (continued)

Growth Restraint Analysis (continued)

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Vertical

Percent Revenue Forecast by Vertical

Revenue Forecast Analysis by Vertical

Revenue Share

Revenue Share Analysis

Revenue Share Analysis (continued)

Leading Participants’ Service Propositions

Customer Analysis: Research Methodology

Firmographics

Awareness of Lighting Digital Services

Systems Currently Used in Organizations and Uptake Rate

Perceived Benefits

Perceived Benefits by End-user Segments

Main Obstacles for Implementation by End-user Segments

Preferred Service Provider Type

Provider Selection Criteria: Contract Details

Types of Lighting Digital Services in Place

Current Implementation of Lighting Digital Service Use-Cases

Contract Duration

Preference for Illumination Services Package

Growth Opportunity 1: Smart Public and Street Lighting to Manage the Cities of the Future

Growth Opportunity 1: Smart Public and Street Lighting to Manage the Cities of the Future (continued)

Growth Opportunity 2: Partnerships Across Value Chain Participants

Growth Opportunity 2: Partnerships Across Value Chain Participants (continued)

Growth Opportunity 3: Connected Lighting to Improve Occupant Health and Well-being

Growth Opportunity 3: Connected Lighting to Improve Occupant Health and Well-being (continued)

Growth Opportunity 4: Energy-efficient Lighting for Sustainable Buildings

Growth Opportunity 4: Energy-efficient Lighting for Sustainable Buildings (continued)

Growth Opportunity 5: Revolutionized Lighting for Vertical Farming

Growth Opportunity 5: Revolutionized Lighting for Vertical Farming (continued)

List of Exhibits

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Related Research
This Frost & Sullivan study explores the lighting industry's dynamic landscape, with a focus on the adoption of digital technologies to revolutionize lighting systems for built environments. Frost & Sullivan estimates the market to grow at a compound annual growth rate (CAGR) of 18.4% between 2022 and 2028. The escalating global demand for energy-efficient solutions and sustainability initiatives acts as a primary driver for the adoption of lighting digital services. Technological advancements, including the Internet of Things (IoT) and Artificial Intelligence (AI), have enabled the integration of smart lighting systems with intelligent control mechanisms into buildings, providing improved energy optimization and operational efficiency. In addition, the proliferation of smart city projects and the increased focus on smart infrastructure, such as smart streetlighting, drives the demand for connected and automated lighting services. Despite promising growth prospects, the global lighting digital services market faces challenges in terms of high initial implementation costs and a lack of standardized protocol for interoperability. Moreover, concerns regarding data security and privacy in IoT-driven lighting systems pose significant restraints to the market's expansion. This study highlights market revenue and end-user vertical share along with a competitive overview. It features research findings from customer analysis on awareness, implementation, contract duration, perceived benefits, and service provider selection criteria. Several growth opportunities that can catalyze the lighting digital services market are evaluated. Smart streetlighting initiatives are expected to witness substantial growth as cities invest in energy-efficient lighting solutions to reduce costs and enhance public safety. The study also highlights the role of digital lighting in vertical farming, the incorporation of lighting systems to improve occupant well-being, and the adoption of integrated lighting digital services that optimize energy consumption and reduce environmental impact. Author: Dennis Marcell Victor
More Information
Author Dennis Marcell Victor
Industries Environment
No Index No
Is Prebook No
Keyword 1 Energy Efficient Lighting Market
Keyword 2 Lighting As A Service Market
Keyword 3 Lighting Control System Market
Podcast No
WIP Number PEFC-01-00-00-00