What are the current investment trends in the human centric lighting market?

Human centric lighting is envisioned to encourage a person’s well-being, mood, and health by adjusting directions, color temperatures, and illuminance. These lighting solutions can improve concentration, safety, and efficiency in workplaces and educational environments. In healthcare applications, human centric lighting solutions can support healing processes and prevention of chronic diseases for individuals having irregular daily routines or staying with elderly people.

The human centric lighting market is projected to grow from USD 810 million in 2019 to USD 3,655 million by 2024—growing at 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 rise in the demand for energy-efficient lighting solutions. Implementation of wireless technology for LED lighting is expected to provide huge growth opportunities to players in the human centric lighting market.

Human Centric Lighting Market

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Lighting fixtures are expected to hold the largest share of the human centric lighting market during the forecast period. Lights and bulbs differ by the intensity of illumination produced by lighting solutions. The luminaires include LED, fluorescent, and other lighting sources. An appropriate choice of luminaires according to the requirement of applications can save energy. LEDs are semiconductors that convert electricity into light through the movement of electrons. LEDs have now evolved as a major lighting technology with longer shelf life, greater durability, improved flexibility, better energy efficiency, and non-toxicity compared to other lighting solutions.

The healthcare application is the largest adopter of human-centric lighting systems. Lighting is among the important aspects of a hospital. The right amount of brightness in a hospital space creates a comfortable environment for patients by reducing their fatigue and enhancing safety for their caregivers. Moreover, proper illumination in space also enables surgeons and doctors to accomplish visual tasks efficiently by reducing errors. Also, staying in the hospital means that patients’ movements are restricted. Depending on the condition, patients generally have to stay in bed and only rarely get to go outdoors. Human centric lighting can support the healing process by stabilizing patients’ circadian rhythms and improving their sleep cycles.

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 the high demand for energy-efficient solutions in developing countries. This region has become a global focal point for investments and business expansion opportunities.