Digitization is changing the way consumers, government and businesses interact with the physical world. The lighting industry is expected to be the next digital disruptor, owing to the increasing adoption of Internet of Things (IoT).
Smart lighting is an emerging technology that is replacing conventional lightings like halogens, CFLs, and incandescent bulbs with efficient LED lights and sensors for energy conservation. Smart lights have automated controls which make adjustments depending on various conditions like availability of daylight. In terms of revenue, the India smart lighting market was valued at INR 7.63 Bn in 2018, which is expected to reach INR 80.56 Bn by 2024, expanding at a CAGR of ~48.87% during the forecast period.
The Smart Lighting Market in India Market report consists details regarding market segments such as types of products, technology usage, different dynamics of the products and services offered, various application areas, geographical regions, and more. The segmentation delivers specific pieces of information which makes it relevant and useful for variety of readers. This report shed brighter light on few more important aspects with keen interest and wholistic approach.
Top Key players of Smart Lighting Market in India Market Covered In The Report:
• Bajaj Electricals Limited
• Wipro Lighting
• Philips India Limited
• Syska LED Light Private Limited
• Osram India
• Schneider Electric India Private Limited
• Samsung India Electronics Private Limited
• Xiaomi Technology India Private Limited
• Svarochi Lighting
• Halonix Technologies Private Limited
Favorable government initiatives like the Smart Cities Mission (SCM), increasing demand for intelligent solutions for street and office lighting and evolving lifestyle of Indian consumers establish a positive environment for the growth of the smart lighting market in India. The government has initiated the smart street lighting installation program in all major cities of the country. The development of third-party apps, voice assistants, and new product formats that connect with people are further driving the smart lighting market.
Although the rapid growth in digitization offers ample opportunities, significant barriers like lack of interoperability and standardization in smart devices, high costs, and complexity in system configuration tend to slowdown the adoption of smart lights in India.
Industry players are moving towards enhanced technologies like Light Fidelity (Li-Fi) and solar-based smart lighting that is expected to transform the smart lighting market.
Based on application, the smart lighting industry can be segmented into smart outdoor and smart indoor lighting. Street lights comprise the most substantial portion of the outdoor lighting segment. Smart outdoor lighting finds its application in industrial and commercial spaces. Smart indoor lights, on the other hand, have their application in smart residential homes.
Based on the lighting source, liquid display bulb, down lights and batten lights are the major segments. DMX, DALI, and power over Ethernet are major wired lighting technologies, whereas Zigbee and Bluetooth are major wireless technologies
The industry is fragmented but comprises a few well-established players like Wipro, Philips and Syska. As smart lighting technology is relatively untapped, new players like Xiaomi, Svarochi and Halonix are rapidly gaining market share. The industry is attracting investments from foreign players offering other smart devices.
Factors such as industry value chain, key consumption trends, recent patterns of customer behaviors, overall spending capacity analysis, market expansion rate, etc. The report also incorporates premium quality data figures associated with financial figures of the industry including market size (in USD), expected market size growth (in percentage), sales data, revenue figures and more. This might enable readers to reach quicker decisions with data and insights at hand.
Moving ahead, the Smart Lighting Market in India Market report entails overview of the major companies considered to be the significant market contributors. This includes details regarding factors such as market share, financial overview, product portfolio, deals, mergers, acquisitions, recent news feed and more. This may assist companies, professionals and teams to develop strategies which may prove itself beneficial for growth. The Smart Lighting Market in India Market is considered to be competitive industry and this report attempts to include entire competition dashboard with ultimate quality data numbers and informative insights.
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While concluding, the Smart Lighting Market in India Market report shares significant details related with dynamics of the industry such as growth driving factors, market opportunities, perceived threats, market forecast data, factors expected to hinder growth rates in future, etc. Also, it shares report conclusion, report findings and suggestions at the end.
•What is the objective of the report?
-To deliver comprehensive analysis of the industry through study of important aspects such as market size, current situations, and companies impacting growth.
-To make readers aware about recent development.
-To offer historic data figures for strategists and key decision makers.
•Which are the key components covered in the Smart Lighting Market in India Market report?
-Market Size Study, Market Expansion Projections
-Market Diversity Analysis
-Key Dynamics of the Industry
-Growth Hacking aspects of the market
-Geographical Spread of the industry
•Why shall one buy this report?
-To attain every piece of information through the extracts, tables, figures and infographics.
-To find out recent updates, news feed regarding key companies of the Smart Lighting Market in India Market.
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Note: In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.