Human Centric Lighting Market to hit $5.5 Bn by 2027; Global Market Insights Inc.

Some of the major human centric lighting market players are Osram Licht Group, Signify, Healthe Hubbell, Glamox, Zumtobel Group AG, Wipro Lighting, Legrand, and TRILUX GmbH.

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Selbyville, Delaware, March 29, 2021 (GLOBE NEWSWIRE) --

Global Market Insights Inc. has recently added a new report on the human centric lighting market which estimates the market valuation for human centric lighting will cross US$ 5.5 billion by 2027. Rising demand for smart lighting solutions in homes is boosting the industry growth. Increasing awareness about the health benefits that human centric lighting systems offer has led to a steady increase in the demand for smart lightings in the global market.

The human centric lighting industry has faced several challenges due to the rapid spread of COVID-19 pandemic across the world. The shortage of workforce and higher lead times as a result of restrictions on movement hampered the manufacturing of sensors and detection systems, microcontrollers, integrated circuits, and lighting fixtures.

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The professional & managed services including consultation, maintenance, repairing, and servicing activities are gaining high popularity in the human centric lighting market. The increasing awareness related to intelligent lighting solutions and their impact on human psychology & behavior are compelling industries to deploy them. Consultation and lighting design services are emerging as popular trends in the market. Market players, such as Zumtobel Group, Trilux, and Legrand, offer lighting designs and architectural services for their human centric lighting systems.

The residential lighting is the most lucrative applications for human centric lighting. The growth of the market is attributed to the growing adoption of home automation solutions. Home automation can effectively improve life quality, work efficiency, and facilitate better management. The increasing urbanization, the rising standard of living, and increasing disposable income of the population are the major factors driving the adoption of intelligent lighting solutions in residential complexes.

The Asia Pacific human centric lighting industry is experiencing a steady growth owing to infrastructure transformation programs and the adoption of intelligent lighting solutions. The Asian countries are expected to gain a high demand among commercial and industrial applications due to the robust manufacturing sector and high work rate in such facilities.

Players active in the human centric lighting market are Osram Licht Group, Signify, Healthe Hubbell Inc., Glamox, Zumtobel Group AG, Wipro Lighting, Legrand, and TRILUX GmbH & Co. KG. These players focus majorly on mergers and acquisitions to enhance their business offerings. For instance, in March 2021, Glamox AS acquired LiteIP Limited, a wireless lighting controls company based in the UK. This acquisition will aid the company to strengthen its offerings within the lighting control systems industry.

Some major findings in the human centric lighting market report include:

  • Growing emphasis on smart building projects in North America and Europe is driving the industry growth.

  • Increasing focus on refurbishment of commercial and residential spaces will support the market statistics.

  • The hardware segment will witness a steady growth rate owing to the demand for low energy consuming and long-lasting LED fixtures, accelerating the market growth.

  • Increased focus on implementing advanced lighting technologies in commercial and industrial settings will propel the demand for HCL in the industrial segment.

  • The presence of several leading market players coupled with the increasing adoption of these lighting systems in elderly care and various institutions will augment the industry trends.

  • Key players operating in the leisure boats market include Signify, Zumtobel Group AG, Hubbell Inc., Osram Licht Group, and Glamox.

  • Major strategies adopted by the market players include new product launches and strategic partnerships with other industry players to enhance their market share.

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Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Human centric lighting industry 3600 synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Solution trends

2.1.4    Installation type trends

2.1.5    End-use trends

Chapter 3   Human Centric Lighting Industry Insights

3.1    Industry segmentation

3.2    Impact of COVID-19

3.2.1    Global outlook

3.2.2    Impact by region

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.3.1    Research and Development

3.2.3.2    Manufacturing

3.2.3.3    Marketing

3.2.3.4    Supply

3.2.4    Competitive landscape

3.2.4.1    Strategy

3.2.4.2    Distribution network

3.2.4.3    Business growth

3.3    Industry ecosystem analysis

3.3.1    Suppliers

3.3.2    Manufacturers

3.3.3    Software & technology providers

3.3.4    Service providers

3.3.5    System integrators

3.3.6    Distribution channel analysis

3.3.7    End-use landscape

3.3.8    Vendor matrix

3.4    Technological and innovation landscape

3.4.1    Tunable LEDs

3.4.2    Wireless lighting

3.4.3    Connected lighting

3.4.4    Evolution of lighting technology

3.5    Regulatory landscape

3.5.1    International Standards

3.5.1.1    ISO 8995-1:2002

3.5.1.2    WELL Building Standard

3.5.2    North America

3.5.2.1    ANSI/IES RP-29-06

3.5.2.2    A11.1-1973

3.5.2.3    ENERGY STAR LABEL

3.5.3    Europe

3.5.3.1    ISBN 978 0 7176 1232 1

3.5.3.2    European Lighting Standard EN12464-1

3.5.3.3    DIN EN 12464-1:2011-08

3.5.3.4    Health & Safety at Work Act

3.5.3.5    EU No 1194/2012 regulation for directional LED luminaire energy efficiency standards

3.5.4    Asia Pacific

3.5.4.1    GB 24819-2009

3.5.4.2    IS 3646

3.5.4.3    Energy efficiency requirement standard GB 30255-2013 for LED lamps (China)

3.5.5    Latin America

3.5.5.1    NR17

3.5.5.2    Energy Efficiency Labeling (Brazil)

3.5.6    MEA

3.5.6.1    The Regulation of energy efficiency label (Saudi Arabia)

3.6    Recent use cases and opportunities

3.7    Cost structure analysis

3.7.1    Human centric lighting vs conventional LED lighting

3.7.2    Manufacturing cost structure analysis

3.8    Pricing analysis

3.8.1    Lighting fixtures

3.8.2    Lighting controllers

3.9    Industry impact forces

3.9.1    Growth drivers

3.9.1.1    Commercial & healthcare infrastructure transformation activities in North America and Asia Pacific

3.9.1.2    Growing smart building projects in North America and Europe

3.9.1.3    Provision of better facilities in the elderly care sector in Europe

3.9.1.4    Increasing demand for energy efficient lighting across the globe

3.9.1.5    Rising implementation of LED lighting solutions in Asia and Latin America

3.9.1.6    Growing smart city establishments in the MEA

3.9.1.7    Increased focus on implementing advanced lighting technologies in the commercial and industrial settings

3.9.2    Industry pitfalls and challenges

3.9.2.1    High initial investment and installation cost

3.9.2.2    Compatibility issues with conventional fixtures

3.10    Growth potential analysis

3.11    Porter’s Analysis

3.11.1    Supplier power

3.11.2    Buyer power

3.11.3    Threat of new entrants

3.11.4    Threat of substitutes

3.11.5    Internal rivalry

3.12    PESTEL Analysis

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