According to a new market intelligence report by BIS Research, titled "Global Human Centric Lighting Market - Analysis and Forecast, 2018-2024", the Human Centric Lighting market was estimated $445.9 million in 2017 and is anticipated to reach $3.91 billion by 2024 growing at a CAGR of 35.2% during the forecast period. Some of the factors driving the growth of Human Centric Lighting (HCL) solutions in the global market are increasing benefits of human centric lighting, joint efforts from regulatory bodies, manufacturers and distributors, and increased adoption of solid state lighting.
The overall lighting market is growing at a significant rate and is expected to reach a substantial level by 2022. In the lighting market, human centric lighting is gaining immense popularity and is expected to grow at a significant rate in the coming years. In 2002, a study stated that ganglion cells in the retina produce melanopsin which controls the hormone production. The light intensity and temperature associated with the fixture can affect the production of various hormones, such as dopamine, serotonin, cortisol, and melatonin, which control important aspects of our body. For instance, melatonin secretion leads to drowsiness which can provide better sleep and low body temperature. The main aim of human centric lighting is to mimic daylight conditions throughout the day. Our body perceives light in a more complicated way than we understand. HCL along with the light therapy treatment can trigger the body's internal clock. Bright blue light can be effective during the morning to improve the effectiveness and alertness of an individual, whereas less or no blue light should be used during the night to improve sleep. Due to the growing popularity of the market, BIS Research has published a report titled, "Global Human Centric Lighting Market, Estimation & Forecast 2018-2024", incorporating a comprehensive segmentation of the market into component types, control types, applications, and geography.
The ongoing changes in the industry have led the study to incorporate a detailed chapter on the market dynamics including the key driving and restraining forces, along with the opportunities for the global human centric lighting market in the forecast period. The market numbers play an essential role in the industry, following which a proper market sizing and estimation by component types, control types, applications, and geographical location have been undertaken for the industry.
According to Yash Agrawal, analyst at BIS Research, "Europe region is leading the HCL market with strong support from the regulatory bodies and organizations. Among various applications, healthcare sector is one of the key areas witnessing the implementation of HCL in the current scenario. The high rate of adoption can largely be attributed to profound effect overall lighting has on the health and comfort of the users. HCL has been widely used for dementia patients, Alzheimer patients and, elderly care homes. Additionally, widespread adoption of HCL is expected to be witnessed across applications such as education, workplaces, retail and residential during the forecast period 2018-2024."
The report has skilfully identified the potential for further development in the form of product launches, joint ventures, and partnerships, among others. The report has also included a separate section of detailed competitive landscape. The recent activities by the key players in this market have also been tracked in the form of company profiles.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by device types along with end users. The report also includes a comprehensive section on the geographical analysis which has been sub-segmented into four major regions namely: North America, Europe, Asia Pacific and Rest-of-the-World (RoW).
This report is a meticulous compilation of research on more than 50 major players in the HCL market. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles around 15 companies which are leading device providers, including Acuity Brands, Inc., OSRAM GmbH, Hubbell Incorporated, Legrand, Philips Lighting, Glamox, Digital Lumens, Inc., Zumtobel Group AG, Seoul Semiconductors, Cree, Inc., Waldmann Lighting, Lutron Electronics Co., Inc., and Hevlar, among others.
Key Questions Answered in the Report:
What will be the global Human Centric Lighting market value by 2024 along with the estimated CAGR?
What are the driving factors for the global Human Centric Lighting market from 2017 to 2024?
Which factors are impeding the growth of the global Human Centric Lighting market?
What are the recent trends and developments in the global Human Centric Lighting industry?
Who are the leading players in the global Human Centric Lighting market along with their analysis?
Which Global Human Centric Lighting control type will lead the global Human Centric Lighting market by 2024?
What is the revenue generated by Human Centric Lighting (fixture and controls) across different application verticals during the forecast period?
Which application will dominate the global Human Centric Lighting (fixture and controls) market by 2024?
Which region will lead the global Human Centric Lighting market by 2024?
Which application will dominate the global Human Centric Lighting market across various regions by 2024?
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