Human Centric Lighting Market

OSRAM Licht AG (Germany) and Signify Lighting NV (Netherlands) are Top 2 Players in Human Centric Lighting Market

The overall human centric lighting market is projected to grow from USD 810 million in 2019 to USD 3,655 million by 2024—growing a CAGR of 35.2%. The implementation of wireless technology for LED lighting is expected to provide huge growth opportunities to the players in the human centric lighting market. The growth of the human centric lighting market is driven by the high adoption of LED lighting solutions; initiatives toward establishing smart cities; and rise in the demand for energy-efficient lighting solutions.

Key players operating in the human centric lighting market include 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). Many major companies focus on adopting organic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to boost revenues.

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Top 2 players in human centric lighting market:

OSRAM Licht AG (Germany) provides lighting solutions and specialty products featuring energy-saving technologies. The company offers fully integrated lighting solutions to meet the growing demand for networked, intelligent lighting. The company is also focusing on the development of lighting products for human well-being. The company is one of the innovators driving this movement and the first company to implement an HCL solution—Osconiq S 1620, under Osconiq professional product family for a complete office building. Furthermore, in March 2018, OSRAM acquired BAG Electronics GmbH (Germany) (a Trilux subsidiary), a company that is specialized in LED modules and software for innovative LED lighting solutions. BAG specializes in electronic ballasts, LED modules, and software for innovative LED lighting solutions such as for human centric lighting.

Signify Lighting NV (Netherlands) is a global market leader with recognized expertise in the development, manufacturing, and application of innovative green lighting products, energy-efficient lighting products, systems, and services. The company is an industry leader in connected lighting systems and services; the company is leveraging the Internet of Things (IoT) to help transform streets and roads, homes, buildings, and urban spaces and increase their energy efficiency and make cities safer and more responsive. The company continues to conduct research and innovation to develop lighting that is easy on the eyes. In March 2018, Signify introduced the EyeComfort Standard in its portfolio of consumer LED lamps and luminaires because there is no global standard that defines EyeComfort at present.

Related Reports:

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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Report Code
SE 7085
RI Published ON
5/7/2019
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