openPR Logo
Press release

Human Centric Lighting Market To Garner $14.95 billion by 2030, Driven by Increase in Need for Energy-efficient Lighting

03-12-2024 07:44 AM CET | Energy & Environment

Press release from: Allied Analytics LLP

Human Centric Lighting Market To Garner $14.95 billion by 2030,

The global human centric lighting market size was valued at $0.91 billion in 2020, and is projected to reach $14.95 billion by 2030, registering a CAGR of 33.50%. North America is expected to be the leading contributor to the global market during the forecast period, followed by Europe and Asia-Pacific.

Download Research Report Sample & TOC @ https://www.alliedmarketresearch.com/request-sample/13338

Human centric lighting is a lighting solution that puts the focus on bringing the dynamics of natural daylight back into people's everyday lives through biologically effective artificial lighting. Human centric lighting goes beyond the basic visual needs of people and helps the human body to stay aligned with natural circadian rhythms. In addition, human centric lighting supports human health, well-being, and performance through deterministic and holistic planning and implementation of visual, emotional, and in particular, biological effects of light.

The emergence of advanced lighting technologies, including LEDs, smart bulbs, and intelligent fixtures is promoting the implementation of smart & controllable light systems, enhancing the market share. LEDs offer huge energy savings, flexibility, and reliability, and are now entering nearly every application in the environment. Reduction in energy consumption and its subsequent cost are the key factors making LED a preferred choice over conventional lights. In addition, several leading manufacturers are focusing on strategic partnerships and product portfolio expansion to enhance their market share. For instance, in December 2020, signify entered into a partnership with Honeywell to deploy smart and integrated lighting solutions for commercial buildings. This partnership will help the companies to extend their services to mass audience.

The prominent factors that impact the human centric lighting market growth are increase in need for energy-efficient lighting, high development of smart lighting system, and high usage of LED lighting solutions.

Inquiry Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/13338

However, high installation and maintenance cost restricts the market growth. On the contrary, rising adoption of wireless technology for lighting system is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the global human centric lighting industry during the forecast period.

The report offers detailed segmentation of the global human centric lighting market based on installation type, offerings, application, and region.

Based on offering, the hardware segment held the highest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the software segment is estimated to register the highest CAGR of 35.9% from 2021 to 2030.

Based on application, the retail segment held the largest market share in 2020, holding more than one-fifth of the total market share, and is expected to continue its leadership status during the forecast period. However, the residential segment is projected to register the highest CAGR of 39.9% from 2021 to 2030.

Request for Customization @ https://www.alliedmarketresearch.com/request-for-customization/13338

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 the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the 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. The overall human centric lighting market analysis is determined to understand the profitable trends to gain a stronger foothold.

The key players profiled in the report include 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. (Netherlands), Lutron Electronics Co., Inc. (U.S.), and Zumtobel Group AG (Austria), and Wipro Enterprises Ltd., (India). These players have adopted various strategies, such as partnership, agreement, expansion, and product launch, to expand their foothold in the human centric lighting industry.

Buy Now with Discount: https://www.alliedmarketresearch.com/checkout-final/5b47e2fe2504bff7c747d269e60d1d3e

Key Findings of The Study
• In 2020, the hardware segment accounted for maximum revenue and is projected to grow at a notable CAGR of 31.50% during the forecast period.
• The retrofit installation segment accounted for more than 45% of the global human centric lighting market share in 2020.
• The residential segment witnesses the highest growth rate during the human centric lighting market forecast period.
• Germany was the major shareholder in the Europe human centric lighting market revenue, accounting for approximately 35% share in 2020.

Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Human Centric Lighting Market To Garner $14.95 billion by 2030, Driven by Increase in Need for Energy-efficient Lighting here

News-ID: 3424069 • Views:

More Releases from Allied Analytics LLP

Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
According to a new report published by Allied Market Research, the heat meters market size was valued at $1.6 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032. A heat meter is a device used to measure and quantify the amount of thermal energy (heat) transferred from a heat source to a system or consumer. It accurately measures
Heat Pump Market Set for Strong Growth Through 2032
Heat Pump Market Set for Strong Growth Through 2032
According to a new report published by Allied Market Research, the heat pump market size was valued at $71.2 billion in 2022, and is estimated to reach $201.5 billion by 2032, growing at a CAGR of 11.1% from 2023 to 2032. A heat pump is a versatile and efficient device that transfers heat from one location to another using a refrigeration cycle. It operates by absorbing heat from a low-temperature source
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
According to a new report published by Allied Market Research, the global energy efficient lighting market was valued at $46.2 billion in 2021 and is projected to reach $93.3 billion by 2030, growing at a robust CAGR of 8.1% from 2022 to 2030. This surge reflects a powerful global movement toward greener, smarter, and more cost-effective lighting technologies. Energy efficient lighting refers to lighting systems and products that use less electricity
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
According to a new report published by Allied Market Research, titled, "Fuel Cell Market," The fuel cell market size was valued at $3.6 billion in 2020, and is estimated to reach $32.0 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030. The fuel cell market has emerged as a transformative force in the global energy landscape, offering a clean, efficient, and sustainable alternative to conventional energy sources.

All 5 Releases


More Releases for CAGR

[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends. Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064 According to the report published by Allied Market Research,
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032. This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,