Human Centric Lighting Market Size, Share, Growth Analysis, By Type(New and Retrofit), By Application(Wholesale Retail, Enterprises, Residential, Industrial), By Region - Industry Forecast 2024-2031

In 2022, the smart lighting market in APAC was worth 22.34% of the total market. The market for human-centric lighting is anticipated to develop at the quickest rate during the anticipated period in APAC. APAC has tremendous growth potential for the human-centric lighting industry, and consumers are expected to accept these systems as essential components of the digitalized home. The expansion of the human-centric lighting market in APAC is greatly aided by the rising construction activity there. There will certainly be a number of new opportunities for energy-efficient lighting and home automation in this region over the next few years due to the anticipated building of 200 million dwellings in China and 18 million homes in India. The human-centric lighting market in China is anticipated to be driven by the country's expanding economy, which increases the demand for lighting systems. In the next few years, Japan will overtake China as the second-largest market in APAC for human-centric lighting. The development initiatives in APAC are supported by the region's expanding population and demand for housing infrastructure. This has increased demand for human-centered lighting in the area.

Europe is one of the growing regions where human-centric lighting practices have been acknowledged and adopted. The country with the biggest market share in this area is Germany. Legrand (France) and OSRAM (Germany) are a couple of the major businesses in this area that provide lighting and control devices. The region's market for human-centric lighting is expanding as a result of the high living standards of the population. In Western European nations, the need for energy-efficient lighting products and technology is on the rise. Additionally, the country's hospitality industries, historical structures, and architectural landmarks are fueling a demand for cutting-edge lighting solutions.