According to the latest report by IMARC Group, titled “Indian Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the Indian smart lighting market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Year considered to estimate the market size:
• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027
The smart lighting market in India is expected to exhibit a CAGR of 35.91% during 2022-2027.
Market Outlook:
Smart lighting refers to an innovative lighting technology that facilitates the efficient use of light resources. It is accessible through an application, smart home assistant, or other devices. It allows individuals to automate the lights or control them remotely to adjust the lighting and change the color and brightness of fixtures, depending on occupancy and external lighting. It uses motion sensors to detect the presence or movement of individuals within an environment and can automatically switch the lights on and off. It is also equipped with power-saving features, automated controls, real-time illumination monitoring, and intelligent sensing for smooth operations.
In recent years, smart lighting has gained immense popularity in India as it helps reduce energy consumption, cut electricity costs, and enhance user convenience.
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Market Trends:
Compared to traditional lighting solutions, such as incandescent bulbs, halogens and CFLs, smart lighting is more economical, sustainable, and consumes lesser power. As a result, the growing need for energy-efficient lighting systems represents the primary factor driving the Indian smart lighting market.Besides this, the surging popularity of smart homes due to rapid urbanization, improving lifestyles, and elevating income levels is another major growth-inducing factor. Additionally, with the rising need for energy conservation, the Government of India is taking favorable initiatives to promote the usage of more energy-efficient products, such as smart lighting. In line with this, extensive investments in the development of public infrastructure and smart cities across the country have augmented the product demand.
Furthermore, several product innovations, such as the launch of modular and intelligent lighting systems equipped with wireless and sensor technology, Bluetooth connectivity, and voice-command features, have propelled the market growth.
Other factors, including the introduction of IoT-based lighting, increasing electricity demand-supply gap, rising consumer awareness regarding energy savings, surging affordability of smart lights, and technological advancements, are also creating a positive market outlook.
Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the Indian smart lighting market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation of the Indian Smart Lighting Market
The report has segmented the Indian smart lighting market on the basis of offering, communication technology, installation type, light source, application and region.
Based on Offering:
HardwareSoftwareServicesBased on Communication Technology:
Wired TechnologyWireless TechnologyBased on Installation Type:
New InstallationRetrofit InstallationBased on Light Source:
LED LampsFluorescent LampsCompact Fluorescent LampsHigh Intensity Discharge LampsOthersBased on Application:
CommercialResidentialPublic InfrastructureOthersGeographical Analysis:
North IndiaWest and Central IndiaSouth IndiaEast IndiaMake inquiry before purchase of this report: https://www.imarcgroup.com/request?type=report&id=1221&flag=F
Key Highlights of the Report:
Market Performance (2016-2021)Market Outlook (2022-2027)Market TrendsMarket Drivers and Success FactorsImpact of COVID-19Value Chain AnalysisComprehensive mapping of the competitive landscapeIf 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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