Market Research Report
Human Centric Lighting Market by Offering, Installation Type, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030
|Human Centric Lighting Market by Offering, Installation Type, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: October 31, 2021
Allied Market Research
Content info: 300 Pages
Delivery time: 2-3 business days
The global human centric lighting market size is expected to reach $14.95 billion by 2030 from $0.91 billion in 2020, growing at a CAGR of 33.50% from 2021 to 2030.
Human centric lighting is the lighting solution by which the emotional wellbeing, comfort, health, and productivity of individuals can be improved through the correct control of the lighting in place. Human centric lighting is widely used in several applications, including healthcare, education, workplaces, industrial, retail, hospitality, and residential. Healthcare patients can experience enhanced medicated efficacy, reduced therapy periods, capacity requirements, and stimulation by light despite outdoor conditions. In addition, lighting technologies continue to evolve and improve, bringing a range of benefits to commercial buildings and end-users. The development of smart lights would increase the demand for human centric lighting in residential sector. Smart lighting solutions are expected to provide huge momentum in the process of building smart cities.
Smart lighting addresses sustainable development challenges successfully, thereby creating lucrative opportunities for the market. Governments of several countries have been playing a major role in the smart infrastructure by implementing regulations and initiatives focused on deployment of smart lighting system as a major part of their infrastructure. Government regulations for smart city deployment and adoption of new technologies that support Industry 4.0, smart energy projects, e-governance solutions, rapid urbanization, and need for better quality of life are anticipated to act as the key drivers of the human centric lighting market.
The prominent factors that impact the human centric lighting market growth are increase in need for energy-efficient lighting, high development of smart lighting system, and high usage of LED lighting solutions. However, high installation and maintenance cost restricts the market growth. On the contrary, rising adoption of wireless technology for lighting system is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global human centric lighting industry during the forecast period.
The global human centric lighting market share is segmented on the basis of offering, installation type, application, and region. By offering, it is divided into hardware, software, and services. Further, the hardware segment is sub segmented into fixtures and controllers. By installation type, it is fragmented into new installations and retrofit installations. Depending on application, it is separated into retail, enterprises, residential, industrial, healthcare, education, and hospitality.
Region-wise, the human centric lighting market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to grow at the highest CAGR during the human centric lighting market forecast period, owing to rapid urbanization and infrastructure activities. Leading countries, such as China, India, and Japan, are witnessing a significant demand for human-centric lighting systems from commercial, residential, and healthcare applications, thereby driving the market growth in Asia-Pacific.
Competitive analysis and profiles of the major human centric lighting market players, such as Signify Lighting NV (Netherlands), OSRAM AG (Germany), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), Legrand SA (France), Hubbell Inc. (U.S.), Philips N.V. (The Netherlands), Lutron Electronics Co., Inc. (U.S.), Zumtobel Group AG (Austria), and Wipro Enterprises Ltd., (India), are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
By Installation Type