Smart Lighting Market Diversifying the Growth and Development untill 2023 | Ajanta India Ltd., Bajaj Electricals Ltd., Havells India Ltd, Osram India Pvt Ltd. , Philips India Ltd.

Smart lighting are designed to ensure energy efficiency, and include automated controls and highly efficient fixtures, that can make adjustments depending on conditions, example occupancy. Lighting is an intentional use of light to add practical and aesthetic effect to a space. Furthermore, these systems include general, accent and task lighting. Besides this, smart lighting systems ensure lower energy usage and high cost savings.

Popularity of LED lighting products has contributed to the growth of the smart lighting market. Increasing demand for intelligent street lighting solutions is driving the market worldwide. Other factors, such as evolution of new wireless technology and increasing need for energy efficiency have also contributed to the growth of the market. Besides this, government regulations favoring the implementation of smart lighting systems have kept the market prospects high. However, incompatible wireless communication systems have hindered the market growth. Lack of awareness about the benefits of smart lighting systems have also obstructed the growth of the market. Expansion of smart cities that requiring smart lighting systems are likely to create greater opportunities.

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Companies covered:

Ajanta India Ltd.
Bajaj Electricals Ltd.
Havells India Ltd
Osram India Pvt Ltd.
Philips India Ltd.
Samsung India Electronics Pvt. Ltd.
Schneider Electric India Pvt. Ltd.
Syska LED Lights Pvt Ltd.
Wipro Ltd.

Key growth drivers of the market:

• The per capita income in India stood at INR 1,12,835 in March 2018, up from INR 1,03,870 in March 2017. Such an increase in the per capita income of Indians, along with rising awareness about contemporary technological advancements, has influenced the mindset of Indians towards using smart technologies. As a result, demand for smart lighting system has increased.
• Motion-detecting lighting systems are replacing the conventional lighting methods in the smart cities and business hubs in India. Therefore, the market players have sufficient opportunities to come up with new smart lighting technologies which are capable of developing energy-saving systems in India.

Key deterrents to the growth of the market:

• The high cost of IoT-enabled systems is hindering the growth of the smart lighting market in India. Owing to its high installation costs, Indian customers are developing antagonistic attitude towards the smart-lighting system, which in turn is negatively affecting the demand of the smart lights market across the country.
• The smart lighting systems installed in India has affected the health of the users in an adverse manner. Questions have arisen concerning the potential health implications of blue-rich and solid-state of the LED lights. It is predicted that prolonged exposure of human beings to short-wavelength high intensity visible lights is phototoxic to the retina. Consumers' awareness about such adverse health impacts is hindering the growth of the smart lighting business in India.

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Mr. Shah
Worldwide Market Reports
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