Lighting as a Service (LaaS) Market Size, Share & Trends Forecast by 2033

Research Methodology – Lighting as a Service (LaaS) Market

At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Lighting as a Service (LaaS) Market comprises the following key stages:

Market Indicator & Macro-Factor Analysis

Our baseline thesis for the Lighting as a Service (LaaS) Market is developed by integrating key market indicators and macroeconomic variables. These include:

Factors considered while calculating market size and share

Current market trend and demand for LaaS.
Number of existing suppliers/service providers in the market.
Pricing strategies and revenue of major players.
Geographical presence of Lighting as a Service (LaaS) providers.
Current and future potential customer base and their spending capacity.
Estimation of new entrants in the market.
Technological advancements impacting or promoting the growth of LaaS.
Overall expenditure in the sector by various industries.

Key Market Indicators

Market volume - the overall number of customer contracts signed for LaaS.
Market value - total revenue generated by LaaS providers.
Growth rate - Yearly or quarterly growth rate of the LaaS market.
Market concentration & fragmentation - Number of major players controlling majority market share.
Market opportunity - Emerging markets or sectors where LaaS is yet to be explored fully.
Customer retention rate - how many customers continue to utilize the service from same provider.
Adoption rate - The speed at which new customers are adopting LaaS.

Growth Trends

Growth in energy-efficient lighting technologies promoting the adoption of LaaS.
Cost Optimization in businesses leading to increased demand for LaaS.
Increase in smart city projects round the globe supporting LaaS adoption.
Growth in the commercial sector such as retail, construction and office spaces where LaaS demand is on a rise.
Growth in legislation supporting energy efficiency fueling LaaS market growth.
Technological advancements like IoT and automation in lighting systems encouraging LaaS growth.

Secondary Research

Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Lighting as a Service (LaaS) Market. Key inputs include:

Company-Level Information

Annual reports, investor presentations, SEC filings
Company press releases and product launch announcements
Public executive interviews and earnings calls
Strategy briefings and M&A updates

Industry and Government Sources

Country-level industry associations and trade bodies
Government dossiers, policy frameworks, and official releases
Whitepapers, working papers, and public R&D initiatives
Relevant Associations for the Lighting as a Service (LaaS) Market

Market Intelligence Sources

Broker reports and financial analyst coverage
Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
Import/export trade data and tariff databases
Sector-specific journals, magazines, and news portals

Macro & Consumer Insights

Global macroeconomic indicators and their cascading effect on the industry
Demand–supply outlook and value chain analysis
Consumer behaviour, adoption rates, and commercialization trends

Primary Research

To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:

Expert Insights & KOL Engagements

Key Opinion Leader (KOL) Engagements
Structured interviews with executives, product managers, and domain experts
Paid and barter-based interviews across manufacturers, distributors, and end-users

Focused Discussions & Panels

Discussions with stakeholders to validate demand-supply gaps
Group discussions on emerging technologies, regulatory shifts, and adoption barriers

Data Validation & Business POV

Cross-verification of market sizing and forecasts with industry insiders
Capturing business perspectives on growth opportunities and restraints

Data Triangulation & Forecasting

The final step of our research involves data triangulation ensuring accuracy through cross-verification of:

Demand-side analysis (consumption patterns, adoption trends, customer spending)
Supply-side analysis (production, capacity, distribution, and market availability)
Macroeconomic & microeconomic impact factors

Forecasting is carried out using proprietary models that combine: