Human Centric Lighting Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Players and Business Opportunities Till 2033


Human Centric Lighting Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Players and Business Opportunities Till 2033: SPER Market Research

 Published: Apr-2024
 Author: SPER Analyst

Human Centric Lighting Market is projected to be worth 26.11 billion by 2033 and is anticipated to surge at a CAGR of 26.33%.

A lighting idea known as "human centric lighting" places an emphasis on people's productivity and well-being in work spaces. It understands how lighting affects people's circadian rhythms and seeks to replicate the patterns of natural daylight in order to produce the best possible illumination. HCL is an example of a thoughtful lighting design strategy that can greatly improve workers' productivity and quality of work life. Businesses may promote alertness, focus, and general well-being by establishing lighting settings that correspond with the biological clock through the use of HCL solutions. Employee weariness may be decreased, focus may be enhanced, and productivity may rise as a result. Additionally, HCL has the power to improve people's general well-being and happiness in the workplace, fostering a more enjoyable and stimulating environment.

Global Human Centric Lighting Market Driving Factors and Challenges
It is projected that the global market for human-centric lighting will experience substantial expansion over the course of the forecast period. The market for human-centered lighting is growing due to factors such the rising need for energy-efficient lighting, the rapid advancement of smart lighting systems, and the widespread use of LED lighting solutions. Since the majority of systems are electrical or electronic and require power and energy sources to function, there is a great need for the development of low-power technology. The development of energy-efficient technologies has increased due to the depletion of various energy sources. Compared to conventional lighting options, human-centric LED fixtures consume significantly less energy, which lowers energy costs and helps achieve carbon-sensitive objectives. Furthermore, they last significantly longer than other types of lighting and emit relatively little heat.

Lighting control systems employ several forms of communication links located throughout the building to regulate the lighting fixtures. Within the lighting devices, specific electronic circuits are required for each communication method. There could be issues if the newly installed and replacement lighting aren't always compatible with the current controls. Compatibility problems may occur as a result of new lighting devices being deployed, as lighting control systems become more complex, as lighting control systems being used more frequently, or as the electrical environment in which the lighting control systems are installed becomes more complex. The market expansion for lighting controllers is hindered by these compatibility problems.

Impact of COVID-19 on Global Human Centric Lighting Market
Global economy has been greatly damaged by the COVID-19 epidemic, which has led to lower demand and spending across various industries, disruptions in the supply chain and production, and limits on the workforce and travel. The market expansion for the residential, commercial, and industrial verticals is anticipated to be hampered by a sudden reduction in infrastructure development and installation projects. Construction project delays caused a significant decline in the growth rate of the human-centric lighting market revenue. Nonetheless, the epidemic has increased demand from the medical sector. Therefore, by the end of 2021, it is expected that the market for human-centric lighting would be growing.   

Global Human Centric Lighting Market Key Players:
A few of the significant companies operating in the market are Zumtobel Group AG, OSRAM GmbH, Hubbell Incorporated, Fagerhult Group, Eaton Corporation plc, Helvar, Glamox AS, Waldmann GmbH & Co. KG, Schréder Group, Coolon LED Lighting, ERCO GmbH, Nualight Limited, Zumtobel Lighting GmbH, and LEDVANCE GmbH. The market study also provides market data by competitive landscape, revenue analysis, and market segments.

Global Human Centric Lighting Market Segmentation:

By Component Type: Based on the Component Type, Global Human Centric Lighting Market is segmented as; Sensors, Drivers, Microprocessor & Microcontrollers, Switches & Dimers, Transmitter & Receivers, Others.

By Installation Type: Based on the Installation Type, Global Human Centric Lighting System Market is segmented as; New Installations, Retrofit Installations, Others.

By Application: Based on the Application, Global Human Centric Lighting Market is segmented as; Wholesale & Retail, Enterprises & Data Centres, Residential, Educational Institutions, Healthcare, Industrial, Hospitality, Others.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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