General Lighting Market Players Develop Human-Centric Lightning For Enhanced Performance
June 24, 2022
The Business Research Company’s General Lighting Market 2022 - Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, June 24, 2022 /EINPresswire.com/ -- New developments in human centric lighting is the latest trend in the general lighting market. Human-centric lighting is mostly required for working individuals as a major part of their work environment. Lighting can have a significant impact on their wellbeing. Human-centric lighting (HCL) is developed for wellbeing at workspaces and its design approach considers three types of impact that light can have on humans: visual, emotional and biological. It enhances human performance, comfort, health, and welfare. According to the general lighting market overview, the new light aims at eliminating key barriers and bringing about better and healthier lighting solutions.
Increasing urbanization will support the general lighting market growth. The positive implications of urbanization include the creation of employment opportunities, technological and infrastructural advancements, improved transportation and communication, quality educational and medical facilities, and improved standards of living. Increasing urbanization will result in a growing number of households, thereby driving the installation of new lamps and luminaires. Projections show that urbanization, the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s population could add another 2.5 billion people to urban areas by 2050. Thus, the increasing urbanization is going to support the growth of the general lighting market.
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The global general lighting market size is expected to grow from $94.07 billion in 2020 to $125.34 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The global general lighting market share is expected to reach $154.41 billion in 2030, at a CAGR of 4.3%.
Major players covered in the global general lighting industry are Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands, Inc.
TBRC’s general lighting market segmentation is divided by type into light emitting diode (LED), compact fluorescent lamps (CFL), linear fluorescent lamps (LFL), high intensity discharge (HID), halogens, incandescent, by end-user into residential, commercial, outdoor, industrial, others.
General Lighting Market 2022 – By Product Type (Light Emitting Diode (LED), Compact Fluorescent Lamps (CFL), Linear Fluorescent Lamps (LFL), High Intensity Discharge (HID), Halogens, Incandescent), By End User (Residential, Commercial, Outdoor, Industrial), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides a general lighting global market overview, forecast general lighting market size and growth for the whole market, general lighting global market segments, geographies, general lighting market trends, general lighting market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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