Human centric lighting market to grow by $3bn by 2027
According to a recent study from market research firm Graphical Research, the Europe human centric lighting market size is poised to expand at substantial CAGR during the forecast period.
As people are spending more time indoors due to the COVID-19 pandemic, lighting needs are higher, empowering Europe human centric lighting industry outlook. While energy savings and sustainability continue to be the primary benefits of LED lighting, human-centric lighting is emerging as the next frontier of LED technology.
According to estimates, Europe human centric lighting market size reach the valuation of $3bn over 2021-2027. Some eminent human centric lighting companies in Europe include Helvar Oy AB, Glamox AS, SG Armaturen AS, LUMITECH Lighting Solution GmbH, Regiolux, General Electric, Hubbell, Herbert Waldmann, KG, Signify N.V., Legrand, and Osram Licht Group.
In order to serve a wider clientele, market majors are putting efforts in product innovation. In April 2019, for example, OSRAM Licht AG introduced the digital Tunable White system. The system is based on DALI-2 and is intended for human-centric lighting applications in commercial offices, educational institutions, and health care facilities.
The product will complement the company's existing product offerings in the market. Similarly, Herbert Waldmann, KG demonstrated intelligent lighting technologies, such as digitisation and networking of lighting systems, for office and industrial building applications in January 2019.
Employers throughout the world are focusing on improving their working environments to enhance human well-being and productivity. European nations are chilly all year and have less exposure to sunshine, which has an influence on human health and necessitates the development of human-centric lighting products. The use of HCL in business settings improves occupant mood and focus while also providing natural light effects.
HCL facilitates the sleep-wake cycle by providing cooler, bluer light in the morning to promote wakefulness and warmer, redder light in the afternoons and evenings to begin the day's wind down. Creating a healthy sleep-wake cycle might increase productivity in office employees who may receive little to no sunlight during the day. Thanks to the above-mentioned benefits, commercial applications such as commercial enterprises, banks, offices, retail stores, and restaurants will see rapid expansion through 2027.
Building and architectural innovations that incorporate smart and intelligent technology, such as smart controllers and meters, energy-saving lights, and so on, are strengthening the demand for intelligent lighting systems.
Europe human centric lighting industry share from new installation segment will gain significant traction in the study period. It is becoming more popular as a result of the development of numerous commercial, educational, and institutional structures across the world. New designs and architectures of aged care facilities focused on patient-friendly designs are increasing demand in these solutions.
Government efforts to promote efficient lighting solutions will aid in faced-paced technology uptake. The European Union's Horizon 2020 Framework Programme includes funding for the creation of smart buildings that can communicate with people, manage themselves, and interact with the surrounding environment.
Optimal lights, such as LEDs and OLEDs, help in the management of a building's lighting systems, which are linked with a variety of other connected technologies for efficient operation. The fast growth of smart buildings and smart cities in Europe is driving the human-centered lighting industry forward.