The target market was measured to be worth just over € 700 million globally.
LTEG concentrated on segmenting the market in Italy considering geographical and time-to-the-market reasons.
In Italy the Smart Lighting market grows and will grow for the next 5 years with a CAGR of 18%.
The Italian market, following careful market research conducted, was segmented as follows:
1) COMMERCIAL/SMEs (B2B): In Italy there are 606224 units. 30% of these have already been served; for a good 40% of these the ELT solution is not applicable. We consider 25% of these not interested in our solution. For these reasons, the available market is reduced to 30311 units. For this type of category, the solution is sold on average at € 5,000.00. Assuming a SOM (Serviceable and obtainable market) of 3%, the Market share would be worth € 4,546,650.00.
2) OPEN PARKS (B2B): This category includes outlets, large open car parks, and shopping centers. In Italy there are about 1158 units in total. Of these, 10% have already been served, 20% are not suitable for the adoption of the LTEG solution and 20% would not be interested. The remaining part, equal to 579 units, would be obtainable for 8% (LTEG Market share: € 1,111,680.00). In fact, an average solution would be sold for this category at a price of € 24,000.00).
3) INDUSTRIES (B2B): There are several large industries (also and above all those equipped with production plants) that operate 24/7 without interruption. In Italy there were 141 main industrial centers (in turn made up of several industries). According to the research carried out, 20% of these would already have provided solutions for the energy efficiency of their lighting network; while another 20% would not be interested, and finally for another 20% the solution would not be adoptable. An ELT solution in this category has an average value (sales to customer) of € 29,000.00. LTEG market share would be € 227.360,00.
4) PUBLIC (B2G): Administrations and public bodies. 7904 units in Italy, of which 10% already served, 30% not easily accessible in the short term because under contract with ESCO company for the management of the lighting network, another 30% are not interested. Of the remaining part equal to 2371 units, the group estimated to be able to obtain a 2% share. In this case, the solution was estimated sold at an average price of € 55,000.00 (LTEG Market share: € 2,608,100.00).
ELT solution not applicable can refer to:
• SME without its own lighting network
• Lighting network with number of light points below 3 street lamps
• Other specific situations
The factors that influence this market are:
• Awareness of rational and intelligent use of energy by public and private entities.
• Digital transformation.
• Smart city projects.
• Diffusion of technological platforms for remote management.
• Realization of the importance of data.