According to the new research report, the "Human Centric Lighting Market by Offering (Hardware (Lighting fixtures and Lighting Controllers), Software, and Services), Installation Type (New Installations and Retrofit Installations), Application, and Geography - Global Forecast to 2024" The human centric lighting market is expected to reach USD 3.6 billion by 2024 from USD 0.8 billion in 2019, growing at a CAGR of 35.2% from 2019 to 2024.
Browse 67 market data Tables and 44 Figures spread through 163 Pages and in-depth TOC on "Human Centric Lighting Market by Offering (Hardware (Lighting fixtures and Lighting Controllers), Software, and Services), Installation Type (New Installations and Retrofit Installations), Application, and Geography - Global Forecast to 2024"
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Human-centric lighting is known as circadian lighting or tunable lighting. This lighting solution mainly focuses on human responses and supports health and well-being Human-centric lighting is much discussed amongst lighting designers and scientific researchers. While traditionally, electric lighting is considered a major technological advancement, many studies also indicate the negative effects electric lights have on our body’s circadian rhythm. Lighting solutions have biological and emotional impacts on human beings. Human-centric lighting is envisioned to encourage a person’s well-being, mood, and health by adjusting directions, color temperatures, and illuminance. These lighting solutions can improve concentration, safety, and efficiency in workplaces and educational environments. In healthcare applications, human-centric lighting solutions can support healing processes and prevention of chronic diseases for individuals having irregular daily routines or staying with elderly people.
Hardware segment to account for the largest share of the human-centric lighting market during forecast period
The increasing demand for energy-saving lighting systems is a crucial driving factor for the human-centric lighting market. Lighting control systems integrated with controllers and dimmers would play an important role in the reduction of energy consumption without compromising on aesthetics. The benefits of lighting control system units include stand-alone lighting control and reduced installation costs. These units help control multiple lights emitted from a single point of source. The control systems are usually integrated with trending technologies, such as IoT; this makes their operations more effective.
Healthcare application to dominate the human-centric lighting market from 2019 to 2024
Lighting is not nonaligned in terms of human health, and adverse effects, such as disruption of sleep and wake cycles, mood disorders and possibly cancer pathologies may be the consequences of ignoring new findings on non-visual effects of light. For this purpose, a diversity of light sources with different biological effectiveness, light management systems that can control the proper timing of lighting are needed. Therefore, there will be high adoption of human-centric lighting in this application. Lighting is among the important aspects of a hospital. The right amount of brightness in a hospital space creates a comfortable environment for patients by reducing their fatigue and enhancing safety for their caregivers. Moreover, proper illumination in space also enables surgeons and doctors to accomplish visual tasks efficiently by reducing errors.
APAC is expected to grow at the highest CAGR in the human-centric lighting market during the forecast period
It is expected to grow at the highest CAGR from 2019 to 2024 owing to the rise in industrialization and commercialization, and high demand for energy-efficient solutions in developing countries in this region. The human-centric lighting market has enormous growth potential in APAC, and these systems are likely to be accepted by consumers as an integral part of a digitalized household. The increased construction activities in APAC are contributing significantly to the growth of the human-centric lighting market in the region. The expected construction of ~200 million homes in China and 18 million homes in India is likely to provide several new opportunities for energy-efficient lighting and home automation in the next few years in this region. Moreover, the emerging economies of China and India are having a positive impact on the overall market in APAC.
The report profiles key players such as Signify Lighting NV (Netherlands), OSRAM Licht AG (Germany), Acuity Brands, Inc. (US), Cree, Inc. (US), Legrand SA (France), Hubbell Inc. (US), Zumtobel Group AG (Austria), Wipro Enterprises (P) Ltd. (India), Glamox AS (Norway), and Lutron Electronics Co., Inc. (US
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