Indian Smart Lighting Market to Grow at 30.02% During 2024-2032, Propelled by Growing Need for Energy-Efficient Lighting Systems

July 21, 2022 | Electronics and Semiconductors

The latest report by IMARC Group, titled “Indian Smart Lighting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the Indian smart lighting market is expected to grow at a CAGR of 30.02% during 2024-2032. 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.

Indian Smart Lighting 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 market in India. 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.

Market Summary:

The market has been divided based on the offering into hardware (lights and luminaries and lighting controls), software, and services (design and engineering, installation, and post-installation).
On the basis of communication technology, the market has been classified as wired and wireless technology.
Based on the installation type, the market has been bifurcated into new and retrofit installations.
The market has been segregated based on the light source into LED, fluorescent, compact fluorescent, high-intensity discharge, and other lamps.
On the basis of the application, the market has been categorized into commercial, residential, public infrastructure, and others.
Region-wise, the market has been segmented into North India, East India, West and Central India, and South India.
The competitive landscape of the market has been examined, with some of the key players being Ajanta India Private Limited, Bajaj Electricals Ltd., Havells India Ltd., Osram India Pvt. Ltd. (OSRAM Licht AG), Philips India Ltd., Samsung India Electronics Pvt. Ltd., Schneider Electric India Pvt. Ltd. (Schneider Electric SE), Syska LED, Wipro, etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Offering, Communication Technology, Installation Type, Light Source, Application, Region
Region Covered	North India, West and Central India, South India, East India
Companies Covered	Ajanta India Private Limited, Bajaj Electricals Ltd., Havells India Ltd., Osram India Pvt. Ltd. (OSRAM Licht AG), Philips India Ltd., Samsung India Electronics Pvt. Ltd., Schneider Electric India Pvt. Ltd. (Schneider Electric SE), Syska LED and Wipro
Customization Scope	10% Free Customization
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Indian Smart Lighting Market to Grow at 30.02% During 2024-2032, Propelled by Growing Need for Energy-Efficient Lighting Systems

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