Global Human-centric Lighting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Human-centric Lighting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Human-centric Lighting (HCL), also known as circadian lighting, or lighting for health and wellbeing, is a hot topic amid lighting designers and scientific researchers alike. Human-centric Lighting is a lighting concept that puts the focus on bringing the dynamics of natural daylight back into people's everyday lives through biologically effective artificial lighting. Nowadays, people spend limited time outdoors during the day. And thus, their exposure to natural daylight is drastically reduced. To make matters worse, inappropriate exposure to artificial light can lead to circadian disruption which is linked to increased incidence of disorders and diseases in modern society. Human-centric Lighting (HCL) supports human health, well-being and performance through deterministic and holistic planning and implementation of the visual, emotional and, in particular, biological effects of light.

Market Overview:

The latest research study on the global Human-centric Lighting market finds that the global Human-centric Lighting market reached a value of USD 1571.46 million in 2022. It’s expected that the market will achieve USD 4898.17 million by 2028, exhibiting a CAGR of 20.86% during the forecast period.

Significant economic downside risks

The outbreak of COVID-19 is affecting almost every region in the world. Each region has been affected by a significant growth and demotion. East Asia and the Pacific will grow by only 0.5%. South Asia will contract by 2.7%, Sub-Saharan Africa will contract by 2.8%, the Middle East and North Africa will contract by 4.2%, Europe and Central Asia will contract by 4.7%, and Latin America will contract by 7.2%. These downturns are expected to reverse years of progress towards achieving development goals and plunge thousands of people into extreme poverty. Emerging markets and developing economies will be hit by economic resistance from multiple quarters: a weak medical system, losses in trade and tourism, reduced remittances, insufficient capital flows, and increasing debt pressures that have led to tight financial conditions. Developed economies are expected to reduce 7%. This crisis has exceeded the speed of the global economy, and a global recession has become inevitable.

Global economic output reduction

Due to the pandemic of COVID-19, the global economy is expected to lose nearly US$8.5 trillion in output value in the next two years, which will erase almost all the gains of the previous four years. The sharp economic contraction marked the worst contraction since the Great Depression in the 1930s, while the economic downturn at the beginning of the year was only 2.1%. And the outbreak of COVID-19 will aggravate the phenomenon of poverty and inequality. By 2030, 130 million people may join the ranks of the extremely poor, which has hit the global efforts to eliminate extreme poverty and hunger. This epidemic has greatly damaged low-skilled and low-paying jobs, while at the same time making high-skilled jobs less affected, which will further increase income inequality within and between countries.

Savant Systems, Inc. Completes Acquisition of GE Lighting in July 1, 2020

Savant Systems, Inc., an industry leader in the professional smart home space has announced today that it has completed the acquisition of GE Lighting from GE (NYSE: GE), creating GE Lighting, a Savant company. Financial details were not disclosed. Bill Lacey, president and CEO of GE Lighting, a Savant company, said, “For more than a century we’ve been bringing the future to light as part of GE and today we couldn’t be more excited to continue our journey as part of Savant. Savant is committed to continued investment and innovation in the lamp and fixture space and their deep knowledge and expertise in home automation will help our business accelerate delivery of bold smart home innovation at retail.” The Savant brand remains steadfastly committed to the professional installation channel for the home, and it will continue to invest heavily in the development of the most advanced products, solutions and services for this market.

Legrand, North & Central America Acquires Connectrac® in October 22, 2019

Legrand, North and Central America (LNCA), today announced it has acquired Connectrac, a leader in the development of flexible floor-based cable management solutions that bring power, data and communications to commercial interior applications. LNCA has a strong expertise in power distribution and cable management and adding Connectrac to its portfolio gives the company the ability to reach additional market segments as well as a platform to expand their ecosystem in commercial interiors.
Legrand has a rich history in innovating in new spaces, and Connectrac brings new open space product solutions designed for flexible work areas. This also supports Legrand’s on-going initiatives to build relationships with architects and designers, end users, and furniture dealers for a range of commercial interiors applications.

Legrand, North and Central America Announces Plans to Expand Data Power and Control Capabilities with the Acquisition of Universal Electric Corporation in February 19, 2019

Legrand, North and Central America (LNCA), an innovation leader in power, light and data technologies for homes, workplaces, and data centers, and a global specialist in electrical and digital building infrastructures announced today that it has entered into a definitive agreement to acquire Universal Electric Corporation* (UEC), a global leader in the development of flexible, customizable power distribution systems, and manufacturer of the STARLINE and U-S Safety Trolley suites of products. This acquisition will enhance Legrand’s global position as a leader in the data center power industry, broaden Legrand’s product offerings and expertise in solution options for key customer segments, and enable future product innovation and designs that will improve data center efficiency and reliability.
UEC will become part of LNCA’s Data Center Power and Control division along with several other premium, best-of-breed brands: Server Technology, Raritan, AFCO, Electrorack, and Ortronics. UEC’s power distribution solutions frequently interconnect with Legrand’s other data center power solutions and this acquisition will enable closer collaboration and more innovative market offerings in the future.

Region Overview:

Europe was the largest revenue market with a market share of 45.07% in 2016 and 43.97% in 2020, a decrease of 1.10%. In 2020, the North America market share was 26.85%, ranking second.

Company Overview:

Legrand is one of the major players operating in the Human-centric Lighting market, holding a share of 11.62% in 2020.

Segmentation Overview:

Among different product types, New Installation segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Commercial, with a market share of 28.04% in 2021.

Key Companies in the global Human-centric Lighting market covered in Chapter 3:

General Electric
Zumbotel Group AG
Herbert Waldmann GmbH & Co. KG
Lutron Electronics Co., Inc.
Entwicklung GmbH
SG Lighting Ltd
Lumileds Holding B.V.
Glamox
Hubbell Inc.
Signify Holding
Healthe, Helvar
Wipro Lighting
Controlled Lighting Corp.
Lextar Electronics Corporation
TRILUX GmbH & Co. KG
LUMITECH Produktion
Ledmotive
OSRAM

In Chapter 4 and Chapter 14.2, on the basis of types, the Human-centric Lighting market from 2018 to 2029 is primarily split into:

New Installation
Retrofit

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Human-centric Lighting market from 2018 to 2029 covers:

Residential
Commercial
Industrial
Institutional
Healthcare

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)