Human Centric Lighting Market Analysis

Human Centric Lighting Market Analysis

The hardware solution segment is anticipated to witness an upward trend during the forecast timeline driven by the rising demand for low energy consuming and long-lasting LED fixtures. The hardware segment will grow at more than 26% CAGR through 2027. Hardware components, such as controllers & fixtures, are witnessing a high demand owing to visual benefits and technical advancements.

The human centric lighting market is also fueled by advancements in materials, manufacturing processes, and technologies to improve product functionality and energy efficiency. The lighting fixtures made up of 100% recycled materials, such as discarded plastic bottles and recycled cement & paper, are gaining more attention in the market. Governments across the globe are also focusing on initiating various lighting projects, which aid in the growth of lighting fixtures. High investments by industry players in launching new products coupled with commercial and healthcare sector initiatives toward the adoption of human centric lighting systems will contribute to the market revenues.
 

The new installation segment accounted for over 90% of the human centric lighting market share in 2020 led by factors such as an increase in new construction activities and penetration of smart home automation solutions. Furthermore, rising government support for energy-efficient intelligent lighting systems will contribute to the surging market growth.
 

Significant transformations in commercial & healthcare structures and the necessity to integrate intelligent lighting control systems are also increasing the demand for human centric lighting in new installations. Additionally, to support energy conservation initiatives and to comply with government regulations, new construction project owners are moving toward environment-friendly lighting systems, increasing the market revenues from the new installation segment.
 

Commercial application held above 45% share in the human centric lighting market in 2020. Commercial applications including business enterprises, offices, banks, retail stores, malls, and restaurants will expand at a high CAGR through 2027 on account of the infrastructure transformation initiatives.
 

The deployment of human centric lighting in commercial settings aids in the improvement of the occupant’s mood, concentration, and provides natural light effects, boosting the industry statistics. Employers and retailers across the globe are focused on enhancing the work & store environments to promote human wellbeing and gain cost & productivity benefits, supporting the market demand for human centric lighting systems.
 

The Europe human centric lighting market valued at around USD 750 million in 2020. The European market is developing at a rapid pace till 2027 propelled by the increasing usage of intelligent light systems in healthcare and commercial segments. Healthcare facilities and elderly care residences are implementing body dynamic lighting solutions to provide better environments and gain health-related benefits, enhancing the market representation. The increasing government focus and initiatives related to the provision of enhanced workplace facilities and a patient-friendly & comfortable atmosphere are fostering market revenue.
 

An increase in the population in Germany will boost the demand for infrastructural developments in the country. According to the data published by the World Bank, the total population in Germany increased from 82.9 million in 2018 to 83.1 million in 2019. The increase in the population over the years will compel the demand for new homes & building constructions, contributing positively to the market growth.