The global human-centered lighting market is forecast to be worth USD 7,641.9 million by 2027, according to a current analysis by Emergen Research. 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. Several companies' strategy to make more of their goods human-centered, adapting to the specific needs of human sociology and psychology, is another key driver for the progress of the human-centric lighting industry. 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 congestion, which is anticipated to further augment market growth during the forecast timeframe.
Together with qualitative and quantitative assessments, the report's authors have provided forecasts for the Human Centric Lighting market. Two of the most important parts of this study are the SWOT analysis and Porter's Five Forces analysis, which reveal how intensely competitive the industry is. The comprehensive study of the worldwide Human Centric Lighting market in the report takes into account markets in North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. This study looks at additional significant characteristics of regional markets in addition to revenue growth drivers, constraints, production consumption patterns, altering consumer tastes, and tight regulatory standards.
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Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Human Centric Lighting market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Human Centric Lighting market and pinpoint the fundamental growth trends.
The leading market contenders listed in the report are:
Osram Licht AG, ES-System SA, Arcluce S.p.A., Koninklijke Philips NV, Fagerhult AB, Zumtobel AG, Glamox AS, Hubbell Inc., The Zumtobel Group, Legrand SA
Global Human Centric Lighting Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
RD Analysis
Cost-Benefit Analysis
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Competitive Analysis
Mergers Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Patent Analysis
Vendor Management
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales distribution channels
Regional Segmentation:
North America
Latin America
Europe
Middle East Africa
Asia Pacific
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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Some Key Highlights from the Report
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.
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.
The new installation segment is accounted for the largest market in the human-centric lighting market due to the elimination of electrical conduits renovation expenses; the installation of such solutions in residential and commercial buildings entails low cost compared to retrofit projects.
The largest market over the forecast timeframe is accounted for by the commercial segment. Accelerated by the organizational infrastructure restructuring and the rapid implementation of employee-centered workplace circumstances.
Due to the rising rate of building refurbishment in European countries, the European region is expected to dominate the market over the forecast period owing to a high level of focus on establishing secure and very well-lit building conditions.
Market Overview:
The report bifurcates the Human Centric Lighting market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Revenue, USD Million; 2017-2027)
Software
Hardware
Installation Outlook (Revenue, USD Million; 2017-2027)
Retrofit
New
End-Use Outlook (Revenue, USD Million; 2017-2027)
Residential
Industrial
Retail
Healthcare
Education
Commercial
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Key reasons to buy the Global Human Centric Lighting Market report:
The latest report comprehensively studies the global Human Centric Lighting market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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