The global human-centered lighting market is forecast to be worth USD 7,641.9 million by 2027, according to a current analysis by Emergen Research. The growing adoption of smart LED lighting in the retail, commercial, and residential sectors is forecast 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 to all other industries. Moreover, this approach can connect wirelessly and relay data and information, which can assist with incorporating IoT to minimize traffic congestion, which is anticipated to further augment market growth during the forecast timeframe.
The Global Human Centric Lighting Market research report is a complete study that summarizes the most recent changes and advancements in the Human Centric Lighting industry, with 2018 acting as the base year and the forecast year being 2020–2027. The analysis provides useful details on the market's size, share, sales channels, distribution system, market segmentation, consumer needs, industry trends, and potential for future growth. The research also looks at both global and regional market growth. The paper examines the COVID-19 pandemic's implications for the market for Human Centric Lighting and its key segments.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Human Centric Lighting market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Human Centric Lighting market and pinpoint the fundamental growth trends.
The leading market contenders listed 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, Legrand SA
Global Human Centric Lighting Market Highlights:
- Regional demand estimation and forecast
- Product Mix Matrix
- R&D Analysis
- Cost-Benefit Analysis
- Pre-commodity pricing volatility
- Supply chain optimization analysis
- Technological updates analysis
- Raw Material Sourcing Strategy
- Competitive Analysis
- Mergers & Acquisitions
- Location Quotients Analysis
- Carbon Footprint Analysis
- Patent Analysis
- Vendor Management
Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales & distribution channels
Regional Segmentation:
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
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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.
- Due to the rising rate of building refurbishment in European countries, the European region is expected to dominate the market over the forecast period owing to a high level of focus on establishing secure and very well-lit building conditions.
Market Overview:
The report bifurcates the Human Centric Lighting market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- 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
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Key reasons to buy the Global Human Centric Lighting Market report:
- The latest report comprehensively studies the global Human Centric Lighting market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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