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All eyes on the smart lighting market in India!


The young and tech savvy Indians spare no time in adopting newer technologies and trends and rightly so as they understand the importance of keeping up with global standards. This is what has driven growth in every industrial sector that is prospering in the country, be it the IT services sector or the manufacturing sector or for that matter even the agricultural sector. Adoption of technology comes with a lot of advantages ranging from cost saving to better efficiency and hence proliferation of technology even in the lighting industry is not surprising.

A crucial part of India’s smart city mission is adoption of smart lighting solutions which is attributing to growth in the smart lighting market in India. Owing to the popularity of Light emitting diode (LED) bulbs, the industry is ripe for the adoption of smart lighting solutions which is predominantly being driven by LED smart lights, Downlights, Batten Lights. On a holistic level, the smart lighting market in India is segmented based on offering, lighting source, communication technology and application type.

While LED is popular among majority of the consumers, the other noteworthy disruption in the smart lighting market in India are, Power over Ethernet (PoE), Light Fidelity (LI-Fi) and human centric lighting. PoE is the latest innovation which provides electricity through data cables and the major players in the industry like Syska and Havells are experimenting with this new form of smart lighting solution. Used mainly for indoor lighting, these PoE enables smart lights are not only power saving and space optimized but can also alternately function as a security alarm system in case of breach. Lighting for the longest time has been a task-oriented job. Lighting operations through traditional means require technicians to dig through walls and create a wiring and circuit with enough earthing in order to make a new residential or commercial property viable. Not only is this job time consuming but also requires significant investment and regular maintenance.

Top players in the lighting industry, including the likes of Philips are now in talks with European and German companies to transfer knowledge on creating lighting solutions that do not require the physical wiring and circuit work. This removes a lot of stress from home-owners minds as the investment and maintenance cost drops and even potential of safety threats due to power failure or outage reduce. This feat is possible to achieve through utilizing IoT or PoE enable lighting solutions, which further indicates the potential for growth of the smart lighting market in India.

As per a market research report published on the official website of Research on Global Markets, the smart lighting market in India is expected to grow at a compound annual growth rate (CAGR) of nearly 38% during the period starting from the year 2018 and ending in the year 2023 which is further likely to help this market achieve a revenue of nearly INR 373.7 Bn by the year 2023. A lot of credit for this growth in the industry also goes to the government for pushing initiatives like smart city and digital India under which internet connectivity and implementation of IoT are being emphasized upon.

Keywords

Smart lighting market in India , Market Research Reports

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