Human Centric Lighting Market Outlook – 2030
The global human centric lighting market size is expected to reach $14.95 billion by 2030 from $0.91 billion in 2020, growing at a CAGR of 33.50% from 2021 to 2030.
Human centric lighting is a type of lighting that is designed to create lighting that matches the natural daylight that drives the body functions and promotes employee well-being in the workplace. It enhances performance, comfort, and health. It also allows us to identify brightness, shapes, colors, & images and to perceive information and contrast. The objective of human-centric lighting is to enhance the human experience, in particular, to satisfy the craving for natural sunlight. This involves advanced lighting solutions that simulate the shifting color spectrum and intensity of light throughout the day. Several innovative LED lighting companies now offer dynamic spectrum lighting, which allows light to be tuned across the visible spectrum of colors and enables a wide range of whites, pastels, and saturated colors to be created from a single light source.
The lighting system has an impact on human biology, influencing hormones, alertness, attentiveness, and exhaustion as well as determining our body clock and circadian rhythm. Human centric lighting considers these factors to give a comprehensive and application-oriented approach to human lighting. The human centered lighting market share is expanding due to the rise in demand for energy-efficient lighting systems in a variety of sectors, including residential, commercial, retail, hospitality, and public infrastructure. LEDs and other tunable lighting used in these systems use less energy than traditional halogen and incandescent bulbs, making them more widely used.
The global human centric lighting market is anticipated to witness significant growth during the forecast period. Factors, such as an increase in the need for energy-efficient lighting, the high development of smart lighting systems, and the high usage of LED lighting solutions, drive the human centric lighting market growth. The development of technologies that operate on less power is in high demand as maximum systems are electronic or electrical and operate on power and energy sources. The depletion of these energy sources has increased the development of energy-efficient systems. Human centric LED fixtures use substantially less power than other forms of lighting, helping to cut energy bills and contribute to carbon-sensitive goals. In addition, they radiate very little heat and last far longer than alternative forms of illumination.
However, high installation and maintenance cost is a major restraint to the global market growth. In addition, the rising adoption of wireless technology for lighting systems is expected to create opportunities for the human centric lighting industry. Wireless technology enables easy access to the lighting system and also proves to be a cost-effective solution. Smart lighting platforms under wireless technology help maintain lighting temperature and luminance. Attributed to this, the demand for wireless technology in lighting systems is creating huge opportunities for the human centric lighting market.
Segment Overview
The global human centric lighting market is segmented on the basis of offering, installation type, application, and region. By offering, it is divided into hardware, software, and services. Further, the hardware segment is sub-segmented into fixtures and controllers. By installation type, it is fragmented into new installations and retrofit installations. Depending on application, it is separated into retail, enterprises, residential, industrial, healthcare, education, and hospitality.
Region-wise, the human centric lighting market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to rapid urbanization and infrastructure activities. Leading countries such as China, India, and Japan are witnessing significant demand for human-centric lighting systems from commercial, residential, and healthcare applications, thereby driving the market growth in Asia-Pacific.
By Offering
Software segment is projected as one of the most lucrative segments.
Top Impacting Factors
The prominent factors that impact the human centric lighting market growth are an increase in the need for energy-efficient lighting, the high development of smart lighting systems, and the high usage of LED lighting solutions. However, high installation and maintenance cost restricts the market growth. On the contrary, the rising adoption of wireless technology for lighting systems is expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect the global human centric lighting industry during the forecast period.
Competitive Analysis
Competitive analysis and profiles of the major human centric lighting market players, such as Signify Lighting NV (Netherlands), OSRAM AG (Germany), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), Legrand SA (France), Hubbell Inc. (U.S.), Philips N.V. (The Netherlands), Lutron Electronics Co., Inc. (U.S.), and Zumtobel Group AG (Austria), and Wipro Enterprises Ltd., (India), are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.
By Application
Retail segment is expected to secure leading position during forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors. A sudden decline in infrastructure development and installation projects is expected to hamper the market growth for residential, commercial, and industrial verticals.
The human centric lighting market revenue witnessed a dip in its growth rate, owing to delayed construction projects, which led to a substantial impact. However, the demand from the medical industry has accelerated during the pandemic. Furthermore, market players have been investing in the R&D of lighting systems, owing to increasing governmental initiatives across the world. Therefore, the human centric lighting market size is anticipated to gain momentum by the end of 2021.
The slowdown in production by OEMs and the eduction in demand for lighting systems and other electronic devices have slightly pulled down the human centric lighting market. Shortages of components and materials have significantly impacted the global supply chains. In addition, reductions in various capital budgets and delays in planned projects in various industries have hampered the global economy.
However, rolling out of vaccines across the globe and better control of the pandemic situation, especially in North America and Europe, would boost the recovery of the human centric lighting market.
By Region
Asia-Pacific region would exhibit the highest CAGR of 36.90% during 2021-2030
Key Benefits for Stakeholders
- This study comprises an analytical depiction of the global human centric lighting market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall human centric lighting market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and human centric lighting market opportunities with a detailed impact analysis.
- The current human centric lighting market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the human centric lighting market share of key vendors.
- The report includes the market trends and the revenue share of key vendors.
Key Market Segments
By Offering
- Hardware
- Fixtures
- Controllers
- Sensors
- Drivers
- Microprocessors & Microcontrollers
- Switches & Dimmers
- Transmitters & Receivers
- Software
- Services
By Installation Type
- New Installations
- Retrofit Installations
By Application
- Retail
- Enterprises
- Residential
- Industrial
- Healthcare
- Education
- Hospitality
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Signify Lighting NV
- OSRAM AG
- Acuity Brands, Inc.
- Cree, Inc.
- Legrand SA
- Hubbell Inc.
- Lutron Electronics Co., Inc.
- Zumtobel Group AG
- Philips NV
- Wipro Enterprises Ltd.
Human Centric Lighting Market Report Highlights
| Aspects | Details |
 By OFFERING |
|
 By INSTALLATION TYPE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Wipro Enterprises (P) Ltd., ACUITY BRANDS, INC., OSRAM LICHT AG, Signify Lighting NV, Zumtobel Group AG, LUTRON ELECTRONICS CO, Wolfspeed, Inc. (CREE, INC.), HUBBEL INCORPORATED, LEGRAND S.A., KONINKLIJKE PHILIPS N.V. |
Analyst Review
The human centric lighting market holds high potential in residential and commercial sectors. The current business scenario experiences rapid development in smart infrastructure and lighting leading to readiness to adopt advanced technology, particularly in developed and developing regions such as North America, Asia-Pacific, and Europe.
The human centric lighting market share is expanding due to rise in demand for energy-efficient lighting systems in a variety of sectors, including residential, commercial, retail, hospitality, and public infrastructure. LEDs and other tunable lighting used in these systems use less energy than traditional halogen and incandescent bulbs, making them more widely used.
Asia-Pacific has witnessed a wide-scale adoption of lighting systems in recent years, owing to their increasing demand across various smart building & smart home sectors such as retail, hospitality, enterprises, and industrial. Companies operating in the human centric lighting market have a robust supply chain network, owing to high penetration of local players in this market.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, expansion, and partnership are expected to be the prominent strategies adopted by the market players.
The human centric lighting market is estimated to grow at a CAGR of 33.50% from 2021 to 2030.
The human centric lighting market is projected to reach $14.95 billion by 2030.
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Increase in need for energy-efficient lighting, high development of smart lighting system and high usage of LED lighting solutions.
The key players profiled in the report include Signify Lighting NV (Netherlands), OSRAM AG (Germany), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), and many more.
On the basis of top growing big corporations, we select top 10 players.
The human centric lighting market is segmented on the basis of offering, installation type, application, and region.
The key growth strategies of human centric lighting market players include product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration.
Software segment would grow at a highest CAGR of 35.90% during the forecast period.
Asia-Pacific region will dominate the market by the end of 2030.
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