LED market expected to grow 14% by 2030

Tuesday, 25 January, 2022

LED market expected to grow 14% by 2030

A new report from Guidehouse Insights suggests that the tunable LED luminaire market will grow at a compound annual growth rate of 14% by 2030.

The report examines the global tunable lighting and control market for human-centric lighting (HCL) in commercial building applications, with global market estimates extending through 2030.

While much of the focus of lighting for wellness and health is placed on natural light, HCL — primarily driven by LED tunable lighting — allows occupants to mimic natural light and customise it to more closely align with the body’s circadian rhythm.

“The HCL market has been driven by various research and standards from Europe, making the region the leading market for health and wellbeing lighting,” said Young Hoon Kim, senior research analyst with Guidehouse Insights.

“The North American market is second in size, followed by Asia–Pacific where there is good potential based on its high economic growth and dense population.”

According to the report, HCL market growth is supported not only by guidelines, but also by certifications, such as the WELL Building Standard and UL safety and performance standards. The market is also experiencing substantial demand growth due to healthcare facilities, schools and commercial offices focused on promoting the wellbeing of building occupants.

The report, Lighting for Healthy Buildings, analyses the global tunable lighting and control market for HCL in commercial building applications: technology and industry trends and technical advancements. Global market estimates, broken down by segment and region, extend through 2030.

Image credit: ©stock.adobe.com/au/Aleksandr Kurganov

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