According to the new research report, the "Human Centric Lighting Market by Offering (Hardware (Lighting fixtures and Lighting Controllers), Software, and Services), Installation Type (New Installations and Retrofit Installations), Application, and Geography - Global Forecast to 2024", is projected to grow from USD 810 million in 2019 to USD 3,655 million by 2024—growing a CAGR of 35.2%. The growth of the human centric lighting market is driven by the high adoption of LED lighting solutions; initiatives toward establishing smart cities; and the rise in the demand for energy-efficient lighting solutions. Implementation of wireless technology for LED lighting is expected to provide substantial growth opportunities to market players.
Browse 67 market data Tables and 44 Figures spread through 163 Pages and in-depth TOC on "Human Centric Lighting Market - Global Forecast to 2024"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=165368838
“Lighting controllers to witness highest CAGR in human centric lighting market during 2019–2024”
The market for lighting controllers is expected to grow at the highest CAGR from 2019 to 2024. The human centric lighting market for lighting controllers has been further segmented into sensors, switches and dimmers, LED drivers, microcontrollers and microprocessors, and transmitters and receivers. The control and communications components include LED drivers and ballasts, sensors, dimmers and switches, and wireless receivers and transmitters. These lighting controls enable the implementation of intelligent lighting solutions and connect human centric lighting in various spaces.
“Residential applications are expected to witness highest growth rate during forecast period”
The human centric lighting market for the residential application is expected to grow at the highest CAGR from 2019 to 2024. Factors such as ongoing technological advancements, increasing consumer preferences for better interior designing, and rising need for energy-efficient lighting are driving the growth of the market for decorative as well as smart lighting. Also, in residential settings, i.e., at home or in elderly care, human centric lighting can reduce sleep disorders, thereby limiting the need for cost-intensive medication and reducing nursing efforts. The growing implementation of smart lighting will lead to the increase in the demand for human centric lighting solutions in the residential sector.
“Growing infrastructure and urbanization will boost demand for human centric lighting solutions in APAC during forecast period”
The human centric lighting market in APAC is expected to grow at the highest CAGR during the forecast period. Factors driving the growth of the market in this region include the rise in industrialization and commercialization and high demand for energy-efficient solutions in developing countries. In a few countries such as South Korea and Malaysia, the success of the market for energy-efficient products such as LED products depends on the ability of light source manufacturers to form a rapport with local partners.
Key players in the market include Signify Lighting NV (Netherlands), OSRAM Licht AG (Germany), Acuity Brands, Inc. (US), Cree, Inc. (US), Legrand SA (France), Hubbell Inc. (US), Zumtobel Group AG (Austria), Wipro Enterprises (P) Ltd. (India), Glamox AS (Norway), and Lutron Electronics Co., Inc. (US). These players are increasingly undertaking product launches and developments, mergers and acquisitions, contracts, partnerships, and agreements to develop and introduce new solutions in the market.
know more @ https://www.marketsandmarkets.com/Market-Reports/human-centric-lighting-market-165368838.html
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441