“Smart buildings will accelerate the adoption of smart lighting more than any other segment. The revitalization of cities will also provide the much-needed impetus for the installation of smart lighting,” said Dennis Marcell Victor, Energy & Environment Research Analyst at Frost & Sullivan. “Government rebates, savings on disposal costs, improved performance of workers, and limitless Internet of Things (IoT) applications for LED lighting present a good business case for LEDs to be adopted across applications.”
Victor added: “Lighting-as-a-Service (LaaS) will see higher adoption and usher in a new business model while driving other applications such as connected lighting and facility management. It is expected to reduce the capital expenditure of the consumer, with service providers bearing upfront costs.
Additionally, from a regional perspective, Asia-Pacific (APAC)