Human Centric Lighting Market to Exceed USD 26.31 Billion at a CAGR of 27.32% by 2032 | S&S Insider

This market expansion is driven by the increasing recognition of the significant impact of lighting on human health, well-being, and productivity

AUSTIN, TX, UNITED STATES, November 8, 2024 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the S&S Insider,“The Human Centric Lighting Market Size was valued at USD 3.00 Billion in 2023 and is expected to reach USD 26.31 Billion by 2032 and grow at a CAGR of 27.32% over the forecast period 2024-2032.”

The Human Centric Lighting Market is transforming the way we perceive health and well-being through innovative lighting solutions.

The Human Centric Lighting Market has witnessed significant growth, driven by the increasing recognition of the importance of lighting for human health and well-being. This market is characterized by a high level of adoption across various sectors, including residential, commercial, healthcare, and education. A key factor contributing to this adoption is the demand for energy-efficient solutions that align with sustainability goals. Human centric lighting primarily utilizes LED technology, which can save up to 70% of energy compared to traditional lighting sources. Unlike incandescent bulbs, which waste about 90% of their energy as heat, and compact fluorescent bulbs that lose around 80%, LED bulbs offer a lifespan of up to 35,000 hours, making them a superior choice. Additionally, the development of human-centric lighting is fueled by growing awareness of the adverse effects of conventional lighting on health, particularly regarding disrupted circadian rhythms and decreased productivity in workplaces. Technological advancements, such as the integration of IoT and smart controls, have also enabled customizable lighting solutions that adapt to individual needs. In the current IoT landscape, Wi-Fi leads with over 30% of connections, followed by Bluetooth and its low-energy variant. The expansion of Cellular IoT technologies is growing rapidly, particularly in China, which dominates the market.

Get a Sample Report with Full TOC & Graphs @ https://www.snsinsider.com/sample-request/4420

SWOT Analysis of Key Players as follows:
- Acuity Brands Inc.
- ams-Osram AG
- Cree Lighting LLC
- Eaton
- Fagerhults
- Helvar
- Hubbell Lighting
- LEDVANCE GmbH
- Legrand SA
- Lutron Electronics Co. Inc.
- Schneider Electric
- Signify Holding
- Trilux
- Wipro
- Zumtobel

Driving the Future of Human Centric Lighting in Smart Homes and Workspaces

The new segment accounted for the largest market share of 67.00% in 2023, driven by the rise of smart homes and a growing emphasis on enhancing residential living standards. Smart home integration commonly utilizes mobile apps and voice assistants to create customizable settings, making homes more comfortable and adaptable throughout the day with human-centric lighting. Meanwhile, the retrofit segment is projected to grow at a CAGR of over 27.65% from 2024 to 2032, fueled by the increasing number of retrofit projects. In office environments, retrofitting lighting systems can significantly enhance employee well-being and boost overall work efficiency.

In 2023, the fixtures segment dominated the Human Centric Lighting Market, accounting for 35.59% of the share. The growing recognition of the need for improved working environments has prompted businesses to adopt this technology. Fixtures designed for human-centric lighting can be programmed to adjust color temperature and light intensity throughout the day, positively influencing individuals' moods and sleep quality. Meanwhile, the services segment is anticipated to experience the fastest growth rate during the forecast period from 2024 to 2032. As lifestyles and behaviors evolve, organizations and individuals across various sectors increasingly recognize the value of human-centric lighting. By combining artificial light sources with optimal energy intensity and natural daylight, this approach enhances mood and boosts productivity in diverse environments.

Make an Inquiry Before Buying @ https://www.snsinsider.com/enquiry/4420

KEY MARKET SEGMENTS:

By Type
-New
-Retrofit

By Product
-Fixtures
-Services
-Controllers
-Software

By Application
-Residential
-Commercial

Innovating Illumination Through Europe's Leadership and North America's Growth in Human Centric Lighting

In 2023, Europe led the human centric lighting market, capturing a significant share of 37.90%. The region's growth is largely attributed to established regulatory frameworks and building standards that promote the adoption of human-centric lighting. Additionally, initiatives aimed at enhancing energy efficiency have spurred the development of innovative lighting solutions. The U.K.'s commitment to sustainability and climate action further propels the market, as human-centric lighting technologies play a vital role in reducing carbon emissions and facilitating the transition to a low-carbon economy. This lighting approach not only offers environmental advantages but also prioritizes human comfort.

In contrast, North America is experiencing rapid growth, with a projected CAGR of 27.95% during the forecast period. The increasing adoption of intelligent lighting systems, including human-centric solutions, is driven by the widespread proliferation of smart technologies. Human-centric lighting can seamlessly integrate with Internet of Things (IoT) devices, allowing for enhanced control and customization. Furthermore, the integration of data analysis, sensors, and human interfaces contributes to the creation of dynamic human-centric environments. As both residential and commercial properties increasingly focus on sustainability and energy efficiency, the demand for human-centric lighting continues to rise, thanks to its lower energy consumption and extended lifespan compared to traditional bulbs and fluorescent lighting.

Recent Development

-In July 2024, Signify Partners partnered with Mercedes-AMG PETRONAS F1 to leverage Signify's expertise in sustainable lighting solutions. Signify will likely provide advanced lighting systems to the team's facilities, potentially including HCL technology to optimize athlete performance and well-being.
-In February 2022, Crestron is making a significant push into HCL with a new line of LED light fixtures. It potentially allows lights to mimic natural sunlight patterns, enhancing the human biological response to light.

Connect with Our Expert for any Queries @ https://www.snsinsider.com/request-analyst/4420

Key Takeaways

-Smart technologies like IoT and mobile apps are enhancing HCL systems, providing customizable lighting solutions that boost user comfort.
-In Europe, regulatory frameworks and building standards are driving HCL market growth by promoting energy efficiency.
-Implementing HCL in workplaces enhances employee well-being and productivity by adjusting lighting based on the time of day and tasks.
-The market consists of new installations, primarily driven by smart home trends, and retrofits, which are gaining traction due to upgrade projects.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Human Centric Lighting Market Segmentation, by Type

Chapter 8. Human Centric Lighting Market Segmentation, by Product

Chapter 9. Human Centric Lighting Market Segmentation, by Application

Chapter 10. Regional Analysis

Chapter 11. Company Profiles

Chapter 12. Use Cases and Best Practices

Chapter 13. Conclusion

Continued…

Purchase Single User PDF of Human Centric Lighting Market Forecast Report @ https://www.snsinsider.com/checkout/4420

Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
info@snsinsider.com
Visit us on social media:
Facebook
X
LinkedIn
Instagram