Human Centric Lighting Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Human Centric Lighting Market was valued at USD 2.06 billion in 2023 and is projected to grow at a CAGR of over 25.2% from 2024 to 2032. This growth is primarily driven by the increasing awareness of lighting's impact on health and well-being.

Government regulations and standards advocating for energy-efficient and human-centric lighting are propelling the market expansion. Policies focused on curbing energy consumption and championing sustainability will further bolster the adoption of human centric lighting (HCL) systems. Globally, governments are backing initiatives underscoring the lighting's significance to health, fostering a conducive environment for HCL solutions. Moreover, incentives, rebates, and mandatory energy-efficient lighting regulations are prompting both residential and commercial sectors to invest in HCL technologies, fueling market growth.

The overall industry is divided into solution, installation type, application, and region

The market is segmented by solution into hardware, software, and services. In 2023, hardware dominated the market, capturing over 67% of the share. The hardware segment in the HCL market plays a crucial role, including components like LED bulbs, luminaires, sensors, and control systems. With advancements in LED technology, there is a marked enhancement in delivering adaptive lighting solutions that resonate with human circadian rhythms. These hardware components facilitate precise control over light intensity, color temperature, and timing, essential for fostering environments that bolster well-being and productivity.

Installation types in the human-centric lighting market are categorized into new installations and retrofits. In 2023, new installations surged with a CAGR exceeding 24%. Given this momentum, the market value for new installations is projected to surpass USD 19 billion by 2032. New installations in the market are gaining traction, spurred by heightened awareness of advanced lighting benefits. Integrating HCL systems into new constructions allows for optimal placement and configuration from the start. This foresight not only accommodates cutting-edge technologies but also crafts tailored solutions that uplift occupant well-being and boost operational efficiency from day one.

Europe dominated the market in 2023, holding over 54% share, and is set to maintain this lead throughout the forecast period. Europe's growth in the human-centric lighting market is fueled by stringent energy efficiency regulations and a pronounced emphasis on sustainability. The EU's green building standards advocate for advanced lighting solutions that not only enhance well-being but also curtail energy consumption. Furthermore, European nations are channeling investments into smart lighting technologies, bolstered by both public and private sector initiatives, driving the innovation and integration of HCL systems across residential, commercial, and institutional domains.

Product Code: 3637

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.8 Growth drivers
- 3.8.1 Increased health awareness
- 3.8.2 Smart lighting innovations
- 3.8.3 Government regulations
- 3.8.4 Growing urbanization
- 3.8.5 Rising demand for smart homes
3.9 Industry pitfalls and challenges
- 3.9.1 High initial costs
- 3.9.2 Lack of standardization
3.10 Growth potential analysis
3.11 Porter's analysis
- 3.11.1 Supplier power
- 3.11.2 Buyer power
- 3.11.3 Threat of new entrants
- 3.11.4 Threat of substitutes
- 3.11.5 Industry rivalry
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Solution, 2021 - 2032 (USD Million)

5.1 Key trends
5.2 Hardware
- 5.2.1 Lighting fixtures
- 5.2.2 Lighting controllers
5.3 Software
5.4 Service

Chapter 6 Market Estimates and Forecast, By Installation Type, 2021 - 2032 (USD Million)

6.1 Key trends
6.2 New installation
6.3 Retrofit

Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 (USD Million)

7.1 Key trends
7.2 Residential
7.3 Commercial
7.4 Industrial
7.5 Institutional
7.6 Healthcare

Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Million)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
8.6 MEA
- 8.6.1 UAE
- 8.6.2 Saudi Arabia
- 8.6.3 South Africa
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 Acuity Brands
9.2 Cree Lighting
9.3 Eaton Corporation
9.4 General Electric
9.5 Glamox AS
9.6 Healthe
9.7 Helvar Oy AB
9.8 Herbert Waldmann GmbH and Co. KG
9.9 Hubbell Inc.
9.10 Johnson Controls
9.11 Ledmotive Technologies SL
9.12 Legrand
9.13 Lextar Electronics Corporation
9.14 Lumileds Holding B.V.
9.15 LUMITECH Lighting Solution GmbH
9.16 Lutron Electronics
9.17 Osram Licht Group
9.18 Regiolux GmbH
9.19 Schneider Electric
9.20 SG Armaturen AS
9.21 Signify N.V.
9.22 Sylvania Lighting Solutions
9.23 TRILUX GmbH and Co. KG
9.24 Wipro Lighting
9.25 Zumtobel Group AG