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.
The study on the Global Human Centric Lighting Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Human Centric Lighting market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Human Centric Lighting industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Human Centric Lighting industry.
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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.
However, the report takes into account the current COVID-19 impact on the global economy and this particular business sector. The global Human Centric Lighting market growth has been extensively hampered by the current economic situation triggered by the COVID-19 pandemic. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the Human Centric Lighting industry. It offers an exhaustive analysis of the present and future effects of the pandemic on this business sphere. Moreover, the adverse effects of the coronavirus pandemic on the global Human Centric Lighting market, as well as its fundamental segments, have also been elucidated in this report.
Major Players/Manufacturers 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, and Legrand SA among others.
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2020-2027.
Emergen Research has segmented the global Human Centric Lighting Market on the basis of type, installation, end-use, and region:
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
The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.
Regional Segmentation Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- 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)
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Human Centric Lighting market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Human Centric Lighting market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Reasons to Buy This Report:
- The report presents a thorough examination of the Human Centric Lighting market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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