DUBLIN, Sept. 25, 2023 /PRNewswire/ — The “Global Lighting Digital Service Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.

Market to grow at a compound annual growth rate (CAGR) of 18.4% between 2022 and 2028

This study delves into the dynamic landscape of the lighting industry, with a specific focus on the adoption of digital technologies to transform lighting systems in built environments. The increasing global demand for energy-efficient solutions and sustainability efforts is a key driver for the adoption of lighting digital services.

Technological advancements, such as the Internet of Things (IoT) and Artificial Intelligence (AI), have paved the way for the integration of smart lighting systems with intelligent control mechanisms in buildings.

This integration offers improved energy optimization and operational efficiency. Furthermore, the proliferation of smart city projects and a growing emphasis on smart infrastructure, including smart streetlighting, are driving the demand for connected and automated lighting services.

While the lighting digital services market holds promising growth prospects, it also faces challenges. High initial implementation costs and a lack of standardized protocols for interoperability are notable hurdles. Additionally, concerns related to data security and privacy in IoT-based lighting systems pose significant constraints to market expansion.

This study provides insights into market revenue and the share of end-user verticals, along with a competitive overview. It incorporates research findings from customer analysis, covering awareness levels, implementation trends, contract duration, perceived benefits, and criteria for selecting service providers.

Several growth opportunities are identified that can accelerate the lighting digital services market. Smart streetlighting initiatives are anticipated to experience 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.

Key Topics Covered:

Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 
• The Impact of the Top 3 Strategic Imperatives on the Lighting Digital Services Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

Growth Opportunity Universe

• Smart Public and Street Lighting to Manage the Cities of the Future
• Partnerships Across Value Chain Participants
• Connected Lighting to Improve Occupant Health and Well-being
• Energy-efficient Lighting for Sustainable Buildings
• Revolutionized Lighting for Vertical Farming

Customer Analysis: Awareness, Use-Cases, and Benefits

• 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 Analysis

• Scope of Analysis
• Value Chain Assessment
• Lighting Digital Services Enabling UN SDGs
• Growth Drivers
• Growth Driver Analysis
• Growth Restraints
• Growth Restraint Analysis
• Revenue Forecast
• Revenue Forecast Analysis
• Revenue Forecast by Vertical
• Percent Revenue Forecast by Vertical
• Revenue Forecast Analysis by Vertical
• Revenue Share
• Revenue Share Analysis
• Leading Participants’ Service Propositions

For more information about this report visit https://www.researchandmarkets.com/r/y30hgz

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SOURCE Research and Markets