(MENAFN- iCrowdNewsWire) The global Human Centric Lighting Market is forecasted to be worth USD 7,641.9 Million by 2027, according to a current analysis by Emergen Research. The global Human Centric Lighting market report discusses in detail the revenue and cost profit analysis of the prominent players of the market. In April 2019, Glamox SA acquired Luxonic Lighting PLC, a UK based lighting company. With the deal, Glamox and Luxonic will enhance their position in UK for the lighting market. The growing adoption of IoT-enabled lighting solutions and the rising use of smart LED lighting systems for wireless connectivity is driving the demand for the market. Over the forecast period, the hardware segment is expected to hold the largest market with a CAGR of 34.4%. Hardware modules, including fixtures & controls, are achieving tremendous growth due to numerous technological advancements and functional benefits.
As per Accenture plc, companies need to move from a product-focused strategy towards a human-centric approach to build smart home solutions; this technique can also be applied for all other industries. Moreover, this approach can connect wirelessly and relay data and information, which can assist with incorporating IoT to minimize traffic congestions, which is anticipated to further augment the market growth during the forecast timeframe.The growing smart LED lighting adoption in the retail, commercial, and residential sectors is forecasted to propel the human-centric lighting market during the forecast period.
Human Centric Lighting Market Size – USD 795.0 Million in 2019, Market Growth – CAGR of 34.3%, Market Trends – The rise in the application of this technology to reduce traffic congestions.
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Key participants include Osram Licht AG, ES-System SA, Arcluce S.p.A., Koninklijke Philips NV, Fagerhult AB, Zumtobel AG, Glamox AS, Hubbell Inc., The Zumtobel Group, and Legrand SA among others.
Type Outlook (Revenue, USD Million; 2017-2027)
Software
Hardware
End-Use Outlook (Revenue, USD Million; 2017-2027)
Residential
Industrial
Retail
Healthcare
Education
Commercial
The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Human Centric Lighting market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Human Centric Lighting market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
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Installation Outlook (Revenue, USD Million; 2017-2027)
Retrofit
New
End-Use Outlook (Revenue, USD Million; 2017-2027)
Mining
Aerospace & Defense
Transportation & Logistics
Agriculture
Others
Regional Analysis of the Human Centric Lighting Market:s
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The global Human Centric Lighting market report discusses in detail the revenue and cost profit analysis of the prominent players of the market. It also focuses on the strategic initiatives taken by the companies to gain a robust footing in the market such as mergers and acquisitions, collaborations, joint ventures, partnerships, corporate and government deals, and licensing agreements, among others.
Furthermore, the years considered for the study are as follows:
Historical year – 2016-2018
Base year – 2019
Forecast period – 2020 to 2027
Global Human Centric Lighting Market Report – Table of Contents :
Chapter 1 includes the global Human Centric Lighting market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Human Centric Lighting market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Human Centric Lighting market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Human Centric Lighting industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
The report evaluates the CAGR value as well as the market value based on the key market dynamics and growth-inducing factors. This study is based on the latest industry news, growth potentials, and trends. The study is meticulously drawn and is exclusively centered around the market scenarios, competitive landscapes, and the influential participants of the markets.
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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