January 31, 2020
According to a recent study titled ‘Human Centric Lighting Market Size By Solution (Hardware [Lighting Fixtures, Lighting Controllers], Software, Service), By Installation Type (New Installation, Retrofit), By Application (Residential, Commercial, Industrial, Institutional, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global human centric lighting market is expected to exceed USD 6 billion by the year 2025.
Rising adoption of smart lighting technology across commercial and residential sector, paired with energy saving benefits offered by these lightings is driving the growth of human centric lighting market. Circadian rhythm-based lights reduce visual & non-visual harms to humans. These advanced lighting solutions offer several health benefits such as aiding human psychology and attuning sleep cycles through color, brightness, and temperature controls. Surging consumer awareness regarding the benefits of human centric lightings and government initiatives for promoting energy-efficient lights will foster the market growth in the coming years.
Based on the solution terrain, software and lighting fixtures segments are predicted to witness high growth during the forecast period, owing to rising implementation of revolutionary and controllable lighting systems across commercial, industrial, and healthcare sectors. The software in these systems allow users to alter light settings by controlling color and brightness levels as per requirement. On the other hand, service segment is witnessing increased demand, due to rising awareness and adoption of body dynamic light solutions across various industries.
In terms of the application scope, human centric lighting market from healthcare segment is expected to show considerable growth over the analysis timeline, owing to numerous health benefits associated with smart lighting systems. These light systems help to maintain sleep-wake cycles, thereby, supporting recovery, while preventing depression, anxiety, and other behavioral conditions among patients and elderly care residents.
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Considering the regional outlook, Europe human centric lighting market is slated to grow momentously during the predicted timeframe, owing to increasing adoption of these solutions across commercial buildings, medical institutes, and elderly care centers. Government initiatives towards promoting energy-efficient & intelligent lights have spurred the demand for circadian lighting products in the region. Moreover, rising focus of industrialists towards providing optimally illuminated environments to promote employee wellbeing and productivity is augmenting the regional market outlook.
The prominent contenders of human centric lighting market are Signify, OSRAM, Zumtobel AG, Glamox, Ledmotive, Legrand, Lumileds, Helvar, Lutron Electronics, and Hubbell, Inc.
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