As per the research report titled ‘Europe Human Centric Lighting Market Forecast 2027 By Application, By Solution, By Installation Type, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe human centric lighting market is estimated to record a valuation of USD 3 billion by 2027.

Changing preferences of individuals for lights, consistent benefits like sustainability and energy conservation, initiatives by the government to promote energy-efficient lighting, and the adaption of optimal lights like LEDs & OLEDs are the major drivers contributing to the growth of Europe human centric lighting marketplace.

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Analysing by solution type, the market segmentation consists of software, hardware (lighting fixtures, lighting controllers), and services. The hardware segment is estimated to grow substantially through 2027, owing to the increased demand for intelligent lighting systems, and the incorporation of smart technologies in architectural and building innovations.

Moving on to the installation types, Europe human-centric lighting industry is bifurcated into new installations, and retrofits. The new installation segment is estimated to gain significant traction and contribute toward industry share during 2021-2027, due to product deployment in multiple new educational, institutional, and commercial buildings around the world. Focus on patient-friendly designs in geriatric care facilities and new architectural designs are also impelling the segmental share.

By application type, the market can be classified into healthcare, industrial, residential, institutional, and commercial. As compared to other segments, commercial settings comprising business enterprises, offices, banks, restaurants, and retail outlets are expected to generate remarkable demand through 2027. It is possible due to focus among employers and management to ensure better working environment and employee productivity by generating a healthy sleep-wake cycle.

Speaking of the competitive outlook, organizations such as The Zumtobel Group, TRILUX GmbH & Co. KG, SG Armaturen AS, OSRAM Licht AG, LUMITECH Lighting Solution Inc., Lextar Electronics Corp., Ledmotive Technologies S.L., Herbert Waldmann GmbH & Co. KG, Healthe Inc., General Electric Company, Controlled Lighting Corp., Glamox AS, Helvar Oy AB, Hubbell Incorporated, Legrand, Lumileds Holding B.V., Lutron Electronics Co. Inc., Regiolux GmbH, Signify N.V., and Wipro Lighting are among the prominent conglomerates contributing to the growth of Europe human centric lighting market.