The global Human Centric Lighting Market is forecasted to be worth USD 7,641.9 Million by 2027, according to a current analysis by Emergen Research. The growing smart LED lighting adoption in the retail, commercial, and residential sectors is forecasted to propel the human-centric lighting market during the forecast period. Several companies’ strategy to make more of their goods human-centered, adapting to the specific needs of human sociology and psychology, is another key driver for the progress of the human-centric lighting industry.
As per Accenture plc, companies need to move from a product-focused strategy towards a human-centric approach to build smart home solutions; this technique can also be applied for all other industries. Moreover, this approach can connect wirelessly and relay data and information, which can assist with incorporating IoT to minimize traffic congestions, which is anticipated to further augment the market growth during the forecast timeframe.
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Key Highlights From The Report
- Over the forecast period, the hardware segment is expected to hold the largest market with a CAGR of 34.4%. Hardware modules, including fixtures & controls, are achieving tremendous growth due to numerous technological advancements and functional benefits.
- The new installation segment is accounted for the largest market in the human-centric lighting market due to the elimination of electrical conduits & renovation expenses; the installation of such solutions in residential and commercial buildings entails low cost compared to retrofit projects.
- Due to the rising rate of building refurbishment in European countries, the European region is expected to dominate the market over the forecast period owing to a high level of focus on establishing secure and very well-lit building conditions.
- 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.
Emergen Research has segmented the global Human Centric Lighting Market on the basis of type, installation, end-use, and region:
- Type Outlook (Revenue, USD Million; 2017-2027)
- Installation Outlook (Revenue, USD Million; 2017-2027)
- End-Use Outlook (Revenue, USD Million; 2017-2027)
Key geographical regions:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key questions addressed in the report:
- Which factors could potentially hamper the global market growth during the forecast period?
- How is the raw material availability affecting the demand for Human Centric Lighting in this industry vertical?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- Who are the leading players dominating the global Human Centric Lighting Market?
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
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
18.104.22.168. The increasing use of smart LED ligthning system for wireless connectivity
22.214.171.124. Growing adoption of IoT enabled ligting solutions
4.2.3. Market restraints analysis
126.96.36.199. 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
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