Human-centric Lighting Market Set to Witness a CAGR of 32% Over 2019-2023 - Introduction of IoT & Smart Technology Propels the Market - ResearchAndMarkets.com

DUBLIN--()--The "Global Human-centric Lighting Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

Introduction of IoT and smart technology

R&D that is focused on energy-saving and aesthetic lighting has led to the development of intelligent computer-operated lighting systems. These lighting systems are generally a part of the Internet of Things (loT) or home automation environment. They can automatically adjust the lighting settings according to room conditions, including occupancy, natural light available, and the time of the day. These intelligent lighting solutions also help in saving energy by switching off the lights when they are not in use.

Vendors are also focusing on integrating self-learning algorithms into consumer lighting solutions to automate the light intensity and color settings according to the user's preference. These smart technologies will lead to the expansion of the global human-centric lighting market at a CAGR of almost 32% during the forecast period.

Benefits of human-centric lighting

Human-centric lighting plays a pivotal role in balancing the color of light so as to stimulate the natural daylight cycle. In human beings, the circadian rhythm benefits from low-intensity light in the morning and high-intensity light in the evening.

Thus, tunable lights help to control light intensity at the right time and thereby improve the efficiency and well-being of consumers. This development is expected to have a positive impact on the overall market growth.

Market Dynamics

The market report also looks at factors such as an increase in a number of residential building and introduction of IoT and smart technology.

However, difficulties in optimizing tunable lighting systems, the slowdown in industrial sector growth, disadvantages of using LED lights may hamper the growth of the human-centric lighting industry over the forecast period.

Segments Analyzed

The human-centric lighting market analysis considers sales from both residential and commercial end-users. The analysis also considers the sales of human-centric lighting in APAC, Europe, North America, South America, and MEA.

In 2018, the residential segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing residential construction will play a significant role in the residential segment to maintain its market position.

Competitive Landscape

With the presence of several major players, the global human-centric lighting market is concentrated. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading human-centric lighting manufacturers, that include:

  • General Electric Co.
  • Hubbell Inc.
  • OSRAM Licht AG
  • Panasonic Corp.
  • Signify N.V.

Also, the human-centric lighting market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Key Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Comparison by end-user
  • Residential - Market size and forecast 2018-2023
  • Commercial - Market size and forecast 2018-2023
  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic comparison
  • Europe - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

  • Decline in the cost of manufacturing LEDs
  • Benefits of human-centric lighting
  • Growth in home decor market

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • General Electric Co.
  • Hubbell Inc.
  • OSRAM Licht AG
  • Panasonic Corp.
  • Signify N.V.

For more information about this report visit https://www.researchandmarkets.com/r/5f59us

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900