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.
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 growing adoption of IoT-enabled lighting solutions and the rising use of smart LED lighting systems for wireless connectivity is driving the demand for the market.
Human Centric Lighting 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.
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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.
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
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
End-Use Outlook (Revenue, USD Million; 2017-2027)
Mining
Aerospace & Defense
Transportation & Logistics
Agriculture
Others
Highlights of the TOC:
Report Overview
Research Scope
Key Human Centric Lighting market segments
Major players
Market analysis by product
Market analysis by application
Report timeline
Global Growth Trends
Global Human Centric Lighting market size
Latest Human Centric Lighting market trends
Key growth trends
Competitive Landscape
Global Human Centric Lighting market key players
Global Human Centric Lighting size by manufacturers
Products of major players
Entry barriers in the Human Centric Lighting market
Mergers, acquisitions, joint ventures, and strategic alliances
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By Regions:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Radical Highlights of the Human Centric Lighting Market Report:
Comprehensive overview of the Human Centric Lighting market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Human Centric Lighting market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
Key Questions Answered in the Report:
What is the growth rate of the Human Centric Lighting market? What is the anticipated market valuation of Human Centric Lighting industry by 2027?
What are the key growth driving and restraining factors of the Human Centric Lighting market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Human Centric Lighting industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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