Why is Demand for Smart Lighting Exploding in India?

Smart lighting is a revolutionary technology that offers a connected and Internet-of-Things (IoT) enabled solution to replace traditional wall switches. It allows users to customize ambient lighting based on daylight availability, using highly efficient fixtures and automated controls that adjust to external lighting conditions and occupancy. Compared to traditional lighting systems, smart lighting consumes less energy and can be connected via Wi-Fi, Zigbee, or Bluetooth. In India, the demand for energy-efficient lighting has surged significantly, particularly in the industrial, commercial, and residential sectors.

What is the growth rate of the smart lighting market in India?

According to IMARC Group, the Indian smart lighting market is expected to exhibit a growth rate (CAGR) of 34.4% during 2023-2028.

Industry Trends: 

The increasing population has led to a surge in energy demand in India, which represents one of the key factors providing an impetus to the market growth. Additionally, the Government of India (GoI) is working actively to replace conventional lighting systems with energy-efficient products, which is driving the market growth. In line with this, key market players are introducing new product variants integrated with artificial intelligence (AI) to increase their consumer base, which is fueling the market growth.

In addition to this, the escalating demand for lighting systems equipped with sensors and wireless technology, surging environmental awareness, and the increasing consumer per capita income are acting as other growth-inducing factors. Moreover, the affordability of smart lights, easy availability in online retail stores, rapid technological advancements, and the development of smart cities are accelerating the market growth.

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Indian Smart Lighting 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.

Competitive Analysis and Segmentation:

Key Market Segmentation:

The report has segmented the market into the following categories:

Breakup by Offering:

• Hardware
• Software
• Services

Breakup by Communication Technology:

• Wired Technology
• Wireless Technology

Breakup by Installation Type:

• New Installation
• Retrofit Installation

Breakup by Light Source:

• LED Lamps
• Fluorescent Lamps
• Compact Fluorescent Lamps
• High Intensity Discharge Lamps
• Others

Breakup by Application:

• Commercial
• Residential
• Public Infrastructure
• Others

Regional Analysis:

• North India
• West and Central India
• South India
• East India

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.