Global Human Centric Lighting Market Forecast to 2027
The Emergen Research Global Human Centric Lighting Market research study is a thorough compilation of analytical data regarding the Human Centric Lighting sector. The study contains a segmentation of the Human Centric Lighting market as well as a thorough analysis of the market’s size in terms of volume and value. The analysis includes a comprehensive prognosis for the years 2020–2027 in addition to the existing Human Centric Lighting market status. The Human Centric Lighting Market Study carefully examines the historical, present, and projected revenue for each industry vertical, sector, end-use industry, application, and region.
The global human-centered lighting market is forecast to be worth USD 7,641.9 Million by 2027, according to a current analysis by Emergen Research. The growing adoption of smart LED lighting in the retail, commercial, and residential sectors is forecast 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 to all other industries. Moreover, this approach can connect wirelessly and relay data and information, which can assist with incorporating IoT to minimize traffic congestion, which is anticipated to further augment market growth during the forecast timeframe.
Human Centric Lighting is an emerging concept in the lighting industry that aims to enhance human well-being and productivity by aligning artificial lighting with the natural circadian rhythm. The market for HCL was experiencing steady growth, primarily driven by increasing awareness of the potential benefits of such lighting solutions in various applications.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Human Centric Lighting market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Osram Licht AG, ES-System SA, Arcluce S.p.A., Koninklijke Philips NV, Fagerhult AB, Zumtobel AG, Glamox AS, Hubbell Inc., The Zumtobel Group, Legrand SA
Research Report on the Human Centric Lighting Market Addresses the Following Key Questions:
Who are the dominant players of the Human Centric Lighting market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Human Centric Lighting market?
What are the key growth drivers and restraining factors of the Human Centric Lighting market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Human Centric Lighting market and its key segments?
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Some Key Highlights from the Report
In April 2019, Glamox SA acquired Luxonic Lighting PLC, a UK based lighting company. With the deal, Glamox and Luxonic will enhance their position in UK for the lighting market.
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.
The largest market over the forecast timeframe is accounted for by the commercial segment. Accelerated by the organizational infrastructure restructuring and the rapid implementation of employee-centered workplace circumstances.
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.
Market Segmentations of the Human Centric Lighting Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2027. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Human Centric Lighting market on the basis of product, application, and region:
Segments Covered in this report are:
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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Regional Landscape section of the Human Centric Lighting report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
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)
Key reasons to buy the Global Human Centric Lighting Market report:
The latest report comprehensively studies the global Human Centric Lighting market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Human Centric Lighting Market report is an exhaustive database that will help readers formulate lucrative strategies. The Human Centric Lighting Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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