查看購物車
  • Simplified Chinese
  • English
  • Japanese
  • Korean
封面
市場調查報告書
商品編碼
1452975

全球以人為本的照明市場 2024-2031

Global Human Centric Lighting Market 2024-2031
出版日期: | 出版商: Orion Market Research | 英文 200 Pages | 商品交期: 2-3個工作天內

價格

全球以人為本的照明市場預計在預測期內（2024-2031 年）將以 10.1% 的CAGR成長。擴大採用可調式 LED 照明系統來創建動態照明環境，這是支持全球市場成長的關鍵因素。健康照明，特別是晝夜節律照明，在健康建築設計策略和技術中發揮著不可或缺的作用。市場參與者也致力於推出以人為本的照明解決方案，以進一步促進市場成長。例如，2023年1月，Acuity Brands, Inc.和Biological Innovations and Optimization Systems, LLC (BIOS)宣布就以人為本的LED照明達成協議用於健康建築照明燈具的組件。

細分市場前景

全球以人為本的照明市場按產品、安裝類型和應用進行細分。根據產品，市場被細分為硬體、軟體和服務。根據安裝類型，市場分為新安裝和改造安裝。此外，根據應用，市場細分為零售、企業、住宅、工業、醫療保健和其他（教育、酒店）。在安裝類型中，由於可控和可調技術的發展，新的安裝子細分市場預計將佔據相當大的市場佔有率，這些技術包括一系列相關色溫（CCT）以引起特定的人類生物反應。

預計醫療保健細分市場將在全球以人為本的照明市場中佔據相當大的佔有率

在這些應用中，醫療保健細分市場預計將在全球以人為本的照明市場中佔據相當大的佔有率。此細分市場的成長歸因於以人為本的照明對晝夜節律的健康益處不斷增加，以及睡眠模式的整體改善推動了市場的成長。照明項目除了滿足視覺要求和例如，2021 年3 月，BIOS Lighting 推出了下一代LED 以人為本的照明解決方案SkyBlue Generation 2（Gen 2），SkyBlue Gen 2 是針對自然藍光的LED 晝夜節律照明解決方案可見光譜（490nm）的天空部分可促進更好的睡眠、更好的能量和更好的健康。

區域展望

全球以人為本的照明市場根據地理位置進一步細分，包括北美（美國和加拿大）、歐洲（英國、義大利、西班牙、德國、法國和歐洲其他地區）、亞太地區（印度、中國、日本、韓國、亞洲其他地區）以及世界其他地區（中東和非洲以及拉丁美洲）。其中，亞太地區預計將在全球市場中佔據顯著佔有率，因為辦公室擴大採用 LED 可調照明來提高生產力、注意力和集中度。

北美地區預計在全球以人為本的照明市場中將以顯著的CAGR成長

在所有地區中，北美地區預計在預測期內將以相當大的CAGR成長。區域成長歸因於工作場所擴大採用以人為本的照明來調節心律和保持警覺性。以人為本的 LED 消除了具有挑戰性的技術、光譜分析和工程，同時使單通道驅動器能夠支援晝夜節律照明。該地區的參與者正在將 LED 照明、解決方案開發支援策略以及晝夜節律照明光譜要求的照明知識相結合。例如，2021 年 3 月，Lumileds 推出了一種新的 LED 以人為本的照明解決方案 - LUXEONSkyBlue。 Lumileds 開發了一種採用 BIOS Lighting 的晝夜節律照明解決方案，以最低的解決方案成本提供業界領先的功效和均勻性，同時在舒適的 CCT（3000K、3500K 和 4000K）下提供黑素比率。

市場參與者展望

服務全球以人為本的照明市場的主要公司包括 Glamox AS、Legrand North and Central America, LLC、三星電子有限公司、Signify Holding、Wipro Lighting 等。市場參與者透過各種策略（包括併購、合作、合作、融資和新產品發布），為市場成長做出了巨大貢獻，以保持市場競爭力。例如，2021 年 8 月，小松和 Proterra 合作開發了以人為本的照明。此次合作代表 Proterra 進軍越野車市場，並推出該公司首款 Proterra Powered(TM) 電池－Human Centric Lighting。

報告涵蓋：

  • 2023年市場價值資料分析及2031年預測。
  • 每個細分市場的年化市場收入（百萬美元）。
  • 主要地理區域的國家分析。
  • 在全球以人為本的照明市場中營運的主要公司。根據現有資料，報告中還提供了與新產品發布相關的資訊以及相關新聞。
  • 透過確定未來強勁成長的關鍵細分市場來分析業務策略。
  • 市場進入和市場擴張策略分析。
  • 透過識別市場中「誰的立場」來制定競爭策略。

目錄

第 1 章：報告摘要

  • 目前行業分析及成長潛力展望
  • 研究方法和工具
  • 市場區隔
    • 按細分
    • 按地區

第 2 章：市場概述與見解

  • 報告範圍
  • 分析師見解和當前市場趨勢
    • 主要發現
    • 建議
    • 結論

第 3 章：競爭格局

  • 主要公司分析
  • Samsung Electronics Co., Ltd.
    • 概述
    • 財務分析
    • SWOT分析
    • 最近的發展
  • Signify Holding
    • 概述
    • 財務分析
    • SWOT分析
    • 最近的發展
  • Wipro Lighting
    • 概述
    • 財務分析
    • SWOT分析
    • 最近的發展
  • 關鍵策略分析

第 4 章：市場細分

  • 全球以人為本的照明市場（按產品分類）
    • 硬體
    • 軟體
    • 服務
  • 按安裝類型分類的全球以人為本的照明市場
    • 新安裝
    • 改造安裝
  • 全球以人為本的照明市場（按應用）
    • 零售
    • 企業
    • 住宅
    • 工業的
    • 衛生保健
    • 其他（教育、旅館業）

第 5 章：區域分析

  • 北美洲
    • 美國
    • 加拿大
  • 歐洲
    • 英國
    • 德國
    • 義大利
    • 西班牙
    • 法國
    • 歐洲其他地區
  • 亞太
    • 中國
    • 印度
    • 日本
    • 韓國
    • 亞太其他地區
  • 世界其他地區

第 6 章：公司簡介

  • Ambright GmbH
  • Bridgelux, Inc.
  • Cree Lighting USA LLC
  • ERCO GmbH
  • ESYLUX GmbH
  • Feilo Sylvania Group
  • Glamox AS
  • Hangzhou YD Illumination Co., Ltd.
  • KENALL MANUFACTURING CO.
  • LEDVANCE GmbH
  • Legrand North and Central America, LLC
  • Lumileds Holding B.V.
  • Lutron Electronics Co., Inc
  • UL LLC
  • UPSHINE
  • VIZULO
  • XAL Inc.
Product Code: OMR2028135

Global Human Centric Lighting Market Size, Share & Trends Analysis Report by Offering (Hardware, Software, and Services), by Installation Type (New Installations and Retrofit Installations), and by Application (Retail, Enterprises, Residential, Industrial, Healthcare, and Others) Forecast Period (2024-2031)

The global human centric lightingmarket is anticipated to grow at a CAGR of 10.1% during the forecast period (2024-2031). The growing adoption of tunable LED lighting systems for the creation of dynamic lighting environmentsis the key factor supporting the growth of the market globally. Wellness lighting specifically in the case of circadian lighting, plays an integral role in healthy building design strategies and technologies. The market players are also focusing on introducing human centric lightingsolutions that further bolster the market growth.For instance, in January 2023, Acuity Brands, Inc. and Biological Innovations and Optimization Systems, LLC (BIOS) announced an agreement on human-centric LED lighting components for use in its architectural lighting fixtures for wellness.

Segmental Outlook

The global human centric lightingmarket is segmented on the offering, installation type, and application. basedon the offering, the market is sub-segmented into hardware, software, and services. Based on the installation type, the market is sub-segmented into new installations and retrofit installations. Further, based onapplication, the market is sub-segmented intoretail, enterprises, residential, industrial, healthcare, and others (education, hospitality). Among the installation type, the new installations sub-segment is anticipated to hold a considerable share of the market owing to the development of controllable and tunable technology a spectrum of correlated color temperatures (CCTs)to evoke particular human biological responses.

The Healthcare Sub-Segment is Anticipated to Hold a Considerable Share of the Global Human Centric Lighting Market

Among the applications, the healthcare sub-segment is expected to hold a considerable share of the global human centric lightingmarket. The segmental growth is attributed to the increasing health benefits of human-centric lighting on circadian rhythms and overall improvement in sleep patterns driving the growth of the market.Lighting projects increasingly require strategies to address the biological health of occupants in addition to meeting visual requirements and simple end-user controls.For instance, in March 2021, BIOS Lighting introduced its next-generation LED human-centric lighting solution, SkyBlue Generation 2 (Gen 2),SkyBlue Gen 2 is the LED circadian lighting solution by targets the natural blue-sky portion of the visible spectrum (490nm) to promote better sleep, better energy, and better wellness.

Regional Outlook

The globalhuman centric lightingmarket is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacificis anticipated to hold a prominent share of the market across the globe, owing to the growing adoption of LED tunable lighting in offices to improve productivity, focus, and concentration.

The North AmericanRegion is Expected to Grow at a Significant CAGR in the Global Human Centric Lighting Market

Among all regions, the North Americanregion is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increasing adoption of human centric lighting in workplaces to regulate cardiac rhythm and maintain alertness. Human centric LEDs eliminatethe challenging technical,spectral analysis, and engineering while enabling a single-channel driver to support circadian lighting. The players across the region are combining LED lighting, a solution development enabled strategy, and lighting's knowledge for circadian lighting spectrum requirements.For instance, in March 2021, Lumileds introduced a new LED human-centric lighting solution - LUXEONSkyBlue. Lumileds has developed a circadian lighting solution with BIOS Lighting that offers industry-leading efficacy and uniformity at the lowest solution cost while delivering melanopic ratios at comfortable CCTs (3000K, 3500K, and 4000K).

Market Players Outlook

The major companies serving the global human centric lighting market include Glamox AS, Legrand North and Central America, LLC, Samsung Electronics Co., Ltd., Signify Holding, Wipro Lighting, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2021, Komatsu and Proterra collaborated to develop all-human-centriclighting. The collaboration represents Proterra's entry into the off-road vehicle market and the company's first Proterra Powered(TM) battery-Human Centric Lighting.

The Report Covers:

  • Market value data analysis of 2023 and forecast to 2031.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global human centric lightingmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying 'who-stands-where' in the market.

Table of Contents

1.Report Summary

  • Current Industry Analysis and Growth Potential Outlook
  • 1.1.Research Methods and Tools
  • 1.2.Market Breakdown
    • 1.2.1.By Segments
    • 1.2.2.By Region

2.Market Overview and Insights

  • 2.1.Scope of the Report
  • 2.2.Analyst Insight & Current Market Trends
    • 2.2.1.Key Findings
    • 2.2.2.Recommendations
    • 2.2.3.Conclusion

3.Competitive Landscape

  • 3.1.Key Company Analysis
  • 3.2.Samsung Electronics Co., Ltd.
    • 3.2.1.Overview
    • 3.2.2.Financial Analysis
    • 3.2.3.SWOT Analysis
    • 3.2.4.Recent Developments
  • 3.3.Signify Holding
    • 3.3.1.Overview
    • 3.3.2.Financial Analysis
    • 3.3.3.SWOT Analysis
    • 3.3.4.Recent Developments
  • 3.4.Wipro Lighting
    • 3.4.1.Overview
    • 3.4.2.Financial Analysis
    • 3.4.3.SWOT Analysis
    • 3.4.4.Recent Developments
  • 3.5.Key Strategy Analysis

4.Market Segmentation

  • 4.1.Global Human Centric Lighting Market by Offering
    • 4.1.1.Hardware
    • 4.1.2.Software
    • 4.1.3.Services
  • 4.2.Global Human Centric Lighting Market by Installation Type
    • 4.2.1.New Installations
    • 4.2.2.Retrofit Installations
  • 4.3.Global Human Centric Lighting Market by Application
    • 4.3.1.Retail
    • 4.3.2.Enterprises
    • 4.3.3.Residential
    • 4.3.4.Industrial
    • 4.3.5.Healthcare
    • 4.3.6.Others (Education, Hospitality)

5.Regional Analysis

  • 5.1.North America
    • 5.1.1.United States
    • 5.1.2.Canada
  • 5.2.Europe
    • 5.2.1.UK
    • 5.2.2.Germany
    • 5.2.3.Italy
    • 5.2.4.Spain
    • 5.2.5.France
    • 5.2.6.Rest of Europe
  • 5.3.Asia-Pacific
    • 5.3.1.China
    • 5.3.2.India
    • 5.3.3.Japan
    • 5.3.4.South Korea
    • 5.3.5.Rest of Asia-Pacific
  • 5.4.Rest of the World

6.Company Profiles

  • 6.1.Ambright GmbH
  • 6.2.Bridgelux, Inc.
  • 6.3.Cree Lighting USA LLC
  • 6.4.ERCO GmbH
  • 6.5.ESYLUX GmbH
  • 6.6.Feilo Sylvania Group
  • 6.7.Glamox AS
  • 6.8.Hangzhou YD Illumination Co., Ltd.
  • 6.9.KENALL MANUFACTURING CO.
  • 6.10.LEDVANCE GmbH
  • 6.11.Legrand North and Central America, LLC
  • 6.12.Lumileds Holding B.V.
  • 6.13.Lutron Electronics Co., Inc
  • 6.14.UL LLC
  • 6.15.UPSHINE
  • 6.16.VIZULO
  • 6.17.XAL Inc.

LIST OF TABLES

  • 1.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
  • 2.GLOBAL HUMAN CENTRIC LIGHTING HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 3.GLOBAL HUMAN CENTRIC LIGHTING SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 4.GLOBAL HUMAN CENTRIC LIGHTING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 5.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023-2031 ($ MILLION)
  • 6.GLOBAL NEW INSTALLATIONS OF HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 7.GLOBAL RETROFIT INSTALLATIONS OF HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 8.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
  • 9.GLOBAL HUMAN CENTRIC LIGHTING FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 10.GLOBAL HUMAN CENTRIC LIGHTING FOR ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 11.GLOBAL HUMAN CENTRIC LIGHTING FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 12.GLOBAL HUMAN CENTRIC LIGHTING FOR INDUSTRIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 13.GLOBAL HUMAN CENTRIC LIGHTING FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 14.GLOBAL HUMAN CENTRIC LIGHTING FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 15.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 16.NORTH AMERICAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 17.NORTH AMERICAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
  • 18.NORTH AMERICAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023-2031 ($ MILLION)
  • 19.NORTH AMERICAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY END APPLICATION, 2023-2031 ($ MILLION)
  • 20.EUROPEAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 21.EUROPEAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
  • 22.EUROPEAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023-2031 ($ MILLION)
  • 23.EUROPEAN HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
  • 24.ASIA-PACIFIC HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
  • 25.ASIA-PACIFIC HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
  • 26.ASIA-PACIFIC HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023-2031 ($ MILLION)
  • 27.ASIA-PACIFIC HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
  • 28.REST OF THE WORLD HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
  • 29.REST OF THE WORLD HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023-2031 ($ MILLION)
  • 30.REST OF THE WORLD HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023-2031 ($ MILLION)
  • 31.REST OF THE WORLD HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)

LIST OF FIGURES

  • 1.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY OFFERING, 2023 VS 2031 (%)
  • 2.GLOBAL HUMAN CENTRIC LIGHTING HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 3.GLOBAL HUMAN CENTRIC LIGHTING SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 4.GLOBAL HUMAN CENTRIC LIGHTING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 5.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2023 VS 2031 (%)
  • 6.GLOBAL NEW INSTALLATIONS OF HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 7.GLOBAL RETROFIT INSTALLATIONS OF HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 8.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023 VS 2031 (%)
  • 9.GLOBAL HUMAN CENTRIC LIGHTING FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 10.GLOBAL HUMAN CENTRIC LIGHTING FOR ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 11.GLOBAL HUMAN CENTRIC LIGHTING FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 12.GLOBAL HUMAN CENTRIC LIGHTING FOR INDUSTRIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 13.GLOBAL HUMAN CENTRIC LIGHTING FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 14.GLOBAL HUMAN CENTRIC LIGHTING FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 15.GLOBAL HUMAN CENTRIC LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
  • 16.US HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 17.CANADA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 18.UK HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 19.FRANCE HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 20.GERMANY HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 21.ITALY HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 22.SPAIN HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 23.REST OF EUROPE HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 24.INDIA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 25.CHINA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 26.JAPAN HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 27.SOUTH KOREA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 28.REST OF ASIA-PACIFIC HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 29.LATIN AMERICA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)
  • 30.THE MIDDLE EAST AND AFRICA HUMAN CENTRIC LIGHTING MARKET SIZE, 2023-2031 ($ MILLION)