Lighting plays a crucial role in setting the ambiance of your space. From illuminating decor to enhancing productivity, proper lighting can transform a room’s feel and purpose. With technology advancing at an unprecedented pace, it’s no surprise that lighting is also evolving.
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#1 Human-Centric Lighting
With the rise of remote work, our time spent indoors has increased significantly. This has led to an increased awareness of the impact of light on our health and well-being. Human-centric lighting (HCL) aims to mimic natural light, adjusting to our circadian rhythm. By adjusting the color and intensity of light throughout the day, it can improve our sleep patterns, energy and alertness levels, and boost our mood.
According to a study by the Human Centric Lighting Society, HCL can result in 18% fewer mistakes and 10% increase in productivity. Furthermore, it is estimated that the global HCL market will reach $3.7 billion by 2024. Expect to see HCL integrated into various domains, from office to healthcare, and homes.
#2 Smart Lighting
It’s no secret that smart technology has made our lives easier, and lighting is no exception. Smart lighting systems allow you to automate control such as switching on/off lights, dimming, and adjusting color temperature. This can be done through voice control, a mobile app, or other intelligent devices.
According to Statista, the global smart lighting market size stood at $8.1 billion in 2020 and is forecasted to reach $25.3 billion by 2024. With the growing awareness of energy conservation, we shall see more smart lighting systems integrated with sensors and energy-efficient bulbs.
#3 Decorative Lighting
Gone are the days when lighting was just functional. It’s now an integral part of interior design and decor. Decorative lighting can be modern, traditional, or eclectic, and it can add a unique touch to a room.
Transparency Market Research forecasts that the decorative lighting market will reach $46.87 billion by 2024, with residential applications being the largest market share. Pendant lights, chandeliers, and wall sconces will remain popular choices, along with unique, handmade lighting options.
#4 Sustainable Lighting
The lighting industry has adopted more eco-friendly practices by using LED bulbs that use less energy and reduce carbon footprint. Furthermore, many companies are embracing the circular economy, which means reducing waste by reusing and recycling materials.
With reference to Stratistics MRC, the global sustainable lighting market is expected to grow from $6.92 billion in 2019 to $35.26 billion by 2027, with an impressive CAGR of 23.2%. This trend highlights the increasing importance of environmental consciousness.
Lighting is a functional yet elegant solution to transform your home or workspace. As these trends materialize and shape the lighting industry going forward, embrace them and visit the upcoming Hong Kong International Lighting Fair (Spring Edition) from 6 to 9 April to light up your business and network with industry peers!
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You can also visit our e-Marketplace for a variety of attractive lighting products:
