Human Centric Lighting Market is Expected to be Dominated by Europe Until 2028
The
benefits of human centric lighting and increased adoption of solid-state
lighting are expected to drive the global human centric lighting market during
the forecast period of 2024-2028.
According to TechSci Research report, “Human
Centric Lighting Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast. 2018–2028,” the Global Human Centric Lighting
Market is anticipated to register a robust growth during the forecast period,
2024-2028 due to the factors, such as the increase in need for energy-efficient
lighting, development of smart lighting system and high usage of LED lighting solutions.
The development of technologies that operate on less power is on high demand as
maximum systems are electronic or electrical and operate on power and energy
sources. The depletion of these energy sources has increased the development of
energy efficient systems. Human centric LED fixtures use substantially less
power than other forms of lighting, helping to cut energy bills and contribute
to carbon-sensitive goals. In addition, they radiate very little heat and last
far longer than alternative forms of illumination.
However, high installation and maintenance costs
are a major restraint to the global market growth. In addition, rising adoption
of wireless technology for lighting systems is expected to create opportunities
for the human centric lighting industry. Wireless technology enables easy
access to the lighting system and also proves to be a cost-effective solution.
Smart lighting platforms under wireless technology help maintain lighting
temperature and luminance. Attributed to this, the demand for wireless
technology in lighting systems is creating huge opportunities for the global human
centric lighting market.
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The global human centric lighting market is
segmented into offering, installation type, application, component type, region,
and competitive landscape. Based on offering, the market is segmented into
hardware, software, and services. Based on installation type, the market is
segmented into new installations, and retrofit installations. Based on
application, the market is segmented into Retail, Enterprises, Residential,
Industrial, Healthcare, Education, Hospitality . Based on component type, the
market is segmented into sensors, drivers, switches & dimmers.
Based on offering, services segment dominated in
the global human centric lighting market in 2022. The growth of the market for
services is mainly attributed to the increasing use of human-centric lighting
solutions and lighting services to lower the cost and decrease the energy
consumption and to maintain environmental safety. Moreover, this growth is
ascribed to strong demand for engineering, consulting, and analytical services
related to human-centric lighting among end users. Services play an essential
role before and after the installation of human-centric lighting systems. The
three primary services offered by market players in the human-centric
lighting market are design and engineering, installation, and post-installation
services (maintenance, support, and monitoring services). The estimated high
rate of adoption of smart lighting systems for energy saving and ecological
safety over the forecast period is primarily responsible for the growth of the
human-centric lighting market for services in the upcoming years.
Based on installation type, new installations
segment dominated in the global human centric lighting market in 2022. The
growing infrastructure and smart city developments will generate the demand for
lighting solutions installations. In this type of installation, a completely
new human-centric lighting solution, which includes new-generation LED drivers
and ballasts, sensors, switches, dimmers, and gateways, is installed. Unlike
the retrofit installation type, which refers to the partial replacement of
lighting controls and management systems, in a new installation type, a
traditional lighting system is completely replaced with new lights and fixtures.
Based on region, Europe dominates in the global
human centric lighting market. The market demand in this region is due to the
increasing transformation of educational, healthcare, and commercial facilities
in the region. Infrastructure refurbishment in the European countries is
attributed to the high focus on providing healthy & well-illuminated
building environments. Moreover, European countries are cold throughout the
year and have less exposure to sunlight, creating an impact on human health and
creating a need for human-centric lighting solutions. These natural lighting
conditions compel the commercial and healthcare sectors to adopt body dynamic
light solutions to support the visual health of the occupants. Additionally,
Europe is experiencing various research & product development activities
due to the presence of several major players followed by high consumer
awareness.
Major
market players operating in the global human centric lighting market are:
- Philips Lighting N.V.
- Osram Licht AG
- Zumtobel Group
- Hubbell Incorporated
- Arcluce S.p.A.
- Fagerhult AB
- Herbert Waldmann GmbH & Co. KG
- Glamox Luxonic Limited
- Es-System S.A.
- CoeLux S.r.l.
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“The prominent factors that impact the human
centric lighting market growth are the rise in demand for energy-efficient
lighting, rapid development of smart lighting system, and widespread use of LED
lighting solutions. However, high installation and maintenance costs limit
market growth. On the other hand, rising adoption of wireless technology for
lighting systems is expected to create lucrative opportunities for the market.
Therefore, it is anticipated that these factors will certainly have an impact
on the worldwide market for human-centric lighting throughout the projected
period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Human
Centric Lighting Market- Global Industry Size, Share, Trends, Opportunities,
and Forecast, 2018-2028 Segmented By Offering (Hardware, Software, Services),
By Installation Type (New Installations, Retrofit Installations), By
Application (Retail, Enterprises, Residential, Industrial, Healthcare,
Education, Hospitality), By Component Type (Sensors, Drivers, Switches &
Dimmers), By Region, Competition,” has
evaluated the future growth potential of global human centric lighting market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global human centric lighting market.
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