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Analysis of Opportunities in the Indian LED Lighting Market : Planned Rollouts are the Key to Unfurl the Full Potential of the Indian LED Lighting Market
-The revenue of the Indian Light-emitting Diode (LED) lighting market, valued at $ million in 2014, is expected to reach $ million in 2020, growing at a CAGR of % from 2014 to 2020.
- The manufacturing of LED lighting components will intensify, as the ‘Make in India’ campaign encourages greater investment in manufacturing and opens up export potential.
- In January 2015, the government launched a nation-wide program in Delhi to distribute LED home lights and street lights under the Domestic Efficient Lighting Programme (DELP) scheme.
- The idea of automating and remaining connected has percolated down to lighting solutions; LED lighting products are expected to act as enablers in this regard.
- Remarkable interest has been generated in smart lighting solutions, especially in remote control and intelligent lighting solutions in the residential and commercial segments.
- Development of global standards development by the Zhaga Consortium, known as Zhaga Books, will be a shot in the arm for LED participants and will mark the decline of legacy lighting technologies.
- Design, research and development, and manufacturing capability of LED lights and luminaires is still minimal in India; most designs are either sourced from overseas R&D centers of global participants or from China.
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