Human Centric Lighting Market is Anticipated to reach USD 7,641.9 Million by 2027 at a CAGR of 34.3% | Know About What are the Future Growth Strategies in the Human Centric Lighting Market?
Research Reports
Jan 07, 2021
Market Size – USD 795.0 Million in 2019, Market Growth – CAGR of 34.3%, Market Trends – The rise in the application of this technology to reduce traffic congestions.
The human centric lighting market is set to attain a valuation of USD 7,641.9 million by 2027, registering a CAGR of 34.3%. The applications of human centric lighting are widespread in several industries including residential, retail, healthcare, industrial, education and commercial.
Market Drivers
The major driving force for the development of human centric lighting market is the rising acceptance of smart LED lighting solutions. The implementation of wireless communication and innovative IoT technologies are postively affecting the market. New lighting innovations are replacing the harmful traditional lights which is stimulating market growth. Due to smart LED lighting solutions, the lighting infrastructure can be updated and regulated as needed, further rising the growth potential of the market. However, high technology cost may hinder the market.
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Regional Analysis
According to the report, the European region is anticipated to dominate human centric lighting market. This is due to the rising rate of the redevelopment of buildings due to a high level of prominence on ensuring well-lit building and safe conditions. Besides, due to the many key leader’s involvements, coupled with rising market awareness, the European region is undergoing various research activities. During the forecast period, the market in the Asia Pacific region is expected to grow significantly due to an increase in digitalization and urbanization and the growing importance for energy-efficient solutions in emerging countries like India and China. North America region is expected to be the second-largest market due to high-end technologies and ease financial assistance.
The market for Human Centric Lighting is fragmented, with a significant number of large and medium-sized players, which account for a significant global share of the market. The key players of the market are well-equipped with significant manufacturing resources and are also engaged in various research and development activities. Some of the top players in the Human Centric Lighting market comprise:
Key participants include Osram Licht AG, ES-System SA, Arcluce S.p.A., Koninklijke Philips NV, Fagerhult AB, Zumtobel AG, Glamox AS, Hubbell Inc., The Zumtobel Group, and Legrand SA among others.
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Type Outlook (Revenue, USD Million; 2017-2027)
Software
Hardware
Installation Outlook (Revenue, USD Million; 2017-2027)
Retrofit
New
End-Use Outlook (Revenue, USD Million; 2017-2027)
Residential
Industrial
Retail
Healthcare
Education
Commercial
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Human Centric Lighting Market Segmentation & Impact Analysis
4.1. Human Centric Lighting Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The increasing use of smart LED ligthning system for wireless connectivity
4.2.2.2. Growing adoption of IoT enabled ligting solutions
4.2.3. Market restraints analysis
4.2.3.1. Initial setup cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Human Centric Lighting Market By Type Insights & Trends Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Software
5.1.2. Hardware
Chapter 6. Human Centric Lighting Market By Installation Insights & Trends Revenue (USD Million)
6.1. Installation Dynamics & Market Share, 2019 & 2027
6.1.1. Retrofit
6.1.2. New
Chapter 7. Human Centric Lighting Market By End-Use Insights & Trends Revenue (USD Million)
7.1. End-Use Dynamics & Market Share, 2019 & 2027
7.1.1. Residential
7.1.2. Industrial
7.1.3. Retail
7.1.4. Healthcare
7.1.5. Education
7.1.6. Commercial
Continue…
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