The report on ‘human-centric lighting’ said that it could account for seven per cent of the general lighting market by 2020.
The potential size of the market was estimated by analysing the amount of floor space that would become available to be relit, the predicted penetration rates of the technology, and pricing.
In a conservative scenario, human-centric lighting is expected to become a US$1.9 billion (€1.4 billion) business in Europe by 2020. A more optimistic scenario put the value of the market as high as US$3.1 billion (€2.3 billion).
Although this kind of lighting has ‘not been the focus of customers, industry and policymakers so far’, it is set to see dramatic growth thanks to the rise of LEDs, the report concludes.
‘While the energy efficiency and durability of LED modules is widely known in the market, little attention has been paid to their advanced controllability and related applications,’ the report said.