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Circadian Lighting Systems Market Overview:
Circadian Lighting Systems Market size is estimated to reach $1.5 billion by 2030, growing at a CAGR of 14.6% during the forecast period 2024-2030. Circadian lighting systems, designed to mimic natural daylight patterns, have seen a surge in demand due to its potential to enhance well-being and productivity. These systems adjust light intensity and color temperature throughout the day, promoting healthier sleep-wake cycles and boosting alertness, making them increasingly popular, especially in healthcare settings and commercial settings, these are factors propelling the Circadian Lighting Systems Market growth.
For instance, according to Invest India, the hospital industry in India, which accounts for 80% of the overall healthcare market, is experiencing tremendous investment demand from both global and domestic investors. By 2023, the hospital industry is anticipated to be worth $132 billion. With global and domestic investors rushing to the healthcare business, the demand for novel lighting solutions that mimic natural daylight patterns is increasing.
Market Snapshot:
Circadian Lighting Systems Market - Report Coverage:
The “Circadian Lighting Systems Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Circadian Lighting Systems Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
COVID-19 has led to a considerable proportion of the public working from home, either part-time or full-time, in unregulated domestic conditions. This shift to remote work has increased the importance of human-centric lighting and circadian lighting solutions, as they are known to have a positive impact on well-being and productivity. Additionally, while sectors like hospitality and retail saw a decline in demand, there was an increase in demand in healthcare and education. This shift in demand patterns highlights the importance of circadian lighting systems in promoting well-being and productivity.
The Ukraine crisis has led to increased energy prices, which could make circadian lighting systems more expensive to install and operate. Moreover, the crisis has caused disruptions to global supply chains, which could make it more difficult to obtain the components needed to produce circadian lighting systems. The crisis has led to a decline in economic activity in some parts of the world, which could reduce demand for circadian lighting systems.
Key Takeaways:
• Fastest Growth of North America
Geographically, North America is anticipated to grow with the highest CAGR of 17.4% during the forecast period 2024-2030. In North America particularly in the US companies and organizations were increasingly looking to implement circadian lighting in workplaces to enhance employee productivity and well-being, especially in industries where shift work is common.
For instance, according to the US Bureau of Labor Statistics, around 16% of wage and salary employees are employed in this industry. Follow shift work schedules. This includes the 6% of workers who work evening shifts and the 4% who work night shifts. The growing prevalence of employees on these non-traditional schedules is anticipated to drive a substantial increase in the demand for circadian lighting systems.
• Color Tuning Register the Fastest Growth
In the Circadian Lighting Systems Market analysis, the color tuning segment is estimated to grow with the highest CAGR of 15.8% during the forecast period. Color tuning in office spaces is becoming more popular as the desire for a vibrant and effective work environment grows. It improves employee well-being and productivity by altering lighting colors. This concept understands that different tasks require varying lighting settings, fostering focus and creativity. Color tuning allows offices to adjust to changing needs, resulting in a harmonious and efficient work environment.
For instance, according to the European Commission, 11 EU nations have employment rates above 78%, with the Netherlands (83%), and Sweden (82%) having the highest rates. This strong employment growth provides a great landscape for color tuning in office environments. Color tuning, which improves ambiance, productivity, and well-being, will drive expansion in the circadian lighting systems market, which will meet the demand for optimum work environments.
• The Educational Institutions Segment Leading the Market
According to the Circadian Lighting Systems Market forecast, Educational Institutions Segment held the largest market share of around 35% in 2023 The increased awareness of the impact of lighting on human well-being and productivity in education is fuelling demand for circadian lighting systems, particularly in the color-tuning category. Educational institutions seek these systems to create dynamic and healthy lighting environments that enhance concentration and learning. Additionally, energy efficiency and sustainability considerations also c. Furthermore, energy economy and ecological concerns are driving up demand for circadian lighting solutions in the education sector.
Additionally, the growing number of universities worldwide, which currently stands at approximately 29,257, presents a significant demand for educational institutions in the circadian lighting systems market. As universities prioritize student well-being and academic performance, the adoption of Circadian Lighting Systems becomes crucial in creating an optimal learning environment that promotes healthy sleep patterns and enhances cognitive function.
• Rising The Demand for Residential Applications:
Demand for circadian lighting systems is increasing in residential settings, as homeowners prioritize solutions that improve sleep quality and create pleasant living spaces. These systems have highly enhanced well-being by synchronizing illumination with natural rhythms to improve general comfort and health. As awareness of the benefits grows, the residential sector is embracing circadian lighting as an essential component for modern homes.
• Competition and Differentiation Hamper the Market Growth
Circadian lighting systems come with high initial costs due to the need for specialized fixtures, bulbs, and controls. This can pose a challenge for consumers and businesses, particularly smaller ones, as the investment required can be a barrier. The expense of these components, which are specifically designed to mimic natural daylight patterns, contributes to the overall cost.
Circadian Lighting Systems Market Share (%) By Region, 2023
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Circadian Lighting Systems Market. The top 10 companies in this industry are listed below:
1. Walalight (Walalight)
2. TRILUX GmbH & C (TRILUX)
3. Acuity Brands (Acuity Brands)
4. Philips Lighting (Philips)
5. Signify N.V., (Signify)
6. LEDdynamics, Inc (LEDdynamic)
7. BIOS Lighting (BIOS Lighting)
8. USAI Lighting, LLC (USAI Lighting)
9. Nanoleaf (Nanoleaf)
10. Kenall Manufacturing (Kenall)
Scope of the Report:
1. Circadian Lighting Systems Market - Overview
1.1. Definitions and Scope
2. Circadian Lighting Systems Market - Executive Summary
3. Circadian Lighting Systems Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Circadian Lighting Systems Market - Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Circadian Lighting Systems Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Circadian Lighting Systems Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Circadian Lighting Systems Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Circadian Lighting Systems Market – by Product Type (Market Size – $Million/$Billion)
8.1. Intensity Tuning
8.2. Color Tuning
8.3. Stimulus Tuning
9. Circadian Lighting Systems Market – By Technology (Market Size – $Million/$Billion)
9.1. LED lighting
9.2. Color Temperature Control
9.3. Automated Lighting Control Systems
10. Circadian Lighting Systems Market – By Application (Market Size – $Million/$Billion)
10.1. Industrial
10.2. Residential
10.3. Commercial
11. Circadian Lighting Systems Market – by Price (Market Size – $Million/$Billion)
11.1. Healthcare Facilities
11.1.1. Hospitals
11.1.2. Clinics
11.1.3. Nursing Homes
11.1.4.Others
11.2. Educational Institutions
11.2.1.Schools
11.2.2. Universities
11.2.3. Colleges
11.2.4. Others
11.3. Hospitality Industry
11.3.1. Hotel
11.3.2. Restaurants
11.3.3. Others
11.4. Manufacturing
11.5. Homeowners
11.6. Offices
12. Circadian Lighting Systems Market – by Geography (Market Size – $Million/$Billion)
12.1. North America
12.1.1. The U.S.
12.1.2. Canada
12.1.3. Mexico
12.2. Europe
12.2.1. UK
12.2.2. Germany
12.2.3 France
12.2.4. Italy
12.2.5. Spain
12.2.6. Russia
12.2.7. Rest of Europe
12.3. Asia-Pacific
12.3.1. China
12.3.2. India
12.3.3. Japan
12.3.4. South Korea
12.3.5. Australia & New Zealand
12.3.6. Rest of Asia-Pacific
12.4. South America
12.4.1.Brazil
12.4.2. Argentina
12.4.3. Chile
12.4.4. Colombia
12.4.5. Rest of South America
12.5. Rest of the World
12.5.1. Middle East
12.5.2. Africa
13. Circadian Lighting Systems Market – Entropy
14. Circadian Lighting Systems Market – Industry/Segment Competition Landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Product Type – Key Companies
14.1.2. Market Share by Region – Key Companies
14.1.3. Market Share by Country – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. Circadian Lighting Systems Market – Key Company List by Country Premium Premium
16. Circadian Lighting Systems Market - Company Analysis
16.1. Walalight
16.2. TRILUX GmbH & C
16.3. Acuity Brands
16.4. Philips Lighting
16.5. Signify N.V.,
16.6. LEDdynamics, Inc
16.7. BIOS Lighting
16.8. USAI Lighting, LLC
16.9. Nanoleaf
16.10. Kenall Manufacturing
The Circadian Lighting Systems Market is projected to grow at 14.6% CAGR during the forecast period 2024-2030.
Global Circadian Lighting Systems Market size is expected to reach $1.5 billion by 2030
The leading players in the Circadian Lighting Systems Market are Walalight , TRILUX GmbH & C, Acuity Brands, Philips Lighting, Signify N.V., LEDdynamics, Inc, BIOS Lighting, USAI Lighting, LLC, Nanoleaf, Kenall Manufacturing, and Others.
Circadian Lighting Systems will likely see increased adoption due to growing awareness of their health benefits. Integration with smart home technology, energy efficiency, and customizable solutions.
The Circadian Lighting Systems market is driven by growing awareness of its health benefits, increased focus on human-centric lighting in workplaces and healthcare, and advancements in LED technology. Opportunities lie in the adoption of these systems across various industries and the development of innovative lighting solutions.