India Smart Lighting Market (2023-2029) | Value, COVID-19 IMPACT, Companies, Share, Trends, Growth, Revenue, Forecast, Size, Analysis & Industry

India Smart Lighting Market Highlights

Report Name	India Smart Lighting Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate (CAGR)	29%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Type, By Ownership
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in India Smart Lighting Market Report

India Smart Lighting Market report thoroughly covers the market by offering, by installation type, by end use application, and by communication technology. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Smart Lighting Market Synopsis

India Smart Lighting Market has accomplished major growth and is estimated to grow due to the rise in awareness of sustainability and energy efficiency among businesses as well as consumers. These solutions offer the potential to decrease energy consumption substantially by adjusting the brightness levels.

According to 6Wresearch, the India Smart Lighting Market size is anticipated to rise at a CAGR of around 29% during the forecast period 2023-2029. The smart lighting market in the country is experiencing significant growth driven by many key factors. Firstly, there is a rise in awareness of energy efficiency as well as sustainability among consumers and businesses alike. These smart lighting solutions have the potential to reduce energy consumption by adjusting brightness levels, and colour temperature, which aligns with the country’s focus on environmental conservation as well as reduced electricity consumption. Secondly, the expanding penetration of smartphones as well as the availability of cost-effective IoT (Internet of Things) technology made it easier for consumers to adopt these lighting systems. The convenience of controlling lights remotely through smartphone apps or voice assistants also contributes to the market expansion. Moreover, government initiatives for promoting smart cities and energy efficiency have provided a conducive environment for the adoption of smart technology. Programs such as "Atal Mission for Rejuvenation and Urban Transformation" (AMRUT) and "Smart Cities Mission" inspire the development of smart technologies. Another factor is the urge for enhanced comfort as well as convenience in homes and workplaces.

COVID-19 Impact on India Smart Lighting Industry

The pandemic had a notable impact on this market. The market was experiencing key growth prior to the pandemic owing to the increasing urbanization, technological advancements, and energy efficiency awareness. The pandemic brought many changes in consumer behavior. People were spending more time at homes, during the social distancing and lockdown, and this led to a focus on the significance of productivity, energy efficiency, and home comfort. A number of individuals as well as families turned to these solutions. The potential to adjust lighting levels, manage energy consumption, and create ambience remotely through smartphone appas as well as voice channels became appealing during the pandemic.  

Smart Lighting Market in India: Key Players

Some of the most prominent companies in this market are Philips Lighting (now known as Signify), Havells India Limited, Bajaj Electricals, Syska LED, and Wipro Lighting. These players offer a range of smart lighting solutions. These companies have the most prominent role to play in the market success.  These players have been contributing to the India Smart Lighting Market Growth.

India Smart Lighting Market: Government Regulations

The Bureau of Energy Efficiency is one of the government initiatives and it has introduced energy efficiency standards as well as labelling programs for lighting products, including luminaires and LED lamps. The government of India has also motivated the implementation of Electrical Lighting Management Systems (ELMS) in commercial as well as public buildings to optimize energy usage and decrease electricity consumption. Under the Smart Cities Mission, the government of the country is developing 100 smart cities and these smart cities incorporate many smart technologies, including smart lighting systems, to improve urban infrastructure, decrease energy consumption, and enhance the quality of life for residents.

Smart Lighting Market Size in India

The size of this market has been growing and it will continue to grow in the future as there is a rise in demand for smart lightings in the country. Rise in urbanization is one of the most significant factors contributing to the growth of this market in the country. Urbanization enables people to use new types of products and the emergence of smart lighting is the result of urbanization. A number of government initiatives are also aiding in the growth of this market. Smart Cities Mission is one of the key initiatives that has been aiding in the success of this market.

Market by Installation Type

Based on installation type, the new installation segment is likely to hold maximum share in the market. New installations are increasing more in demand since it completely replaces traditional lighting system owing to its efficiency.  

Market by End Use Application

Based on end use application, indoor lighting segment dominated the market. The same segment will continue to dominate this market in the future.

Market by Communication Technology

According to Shivankar, Research Manager, 6Wresearch, wireless segment dominated the market in the past few years. The wired segment will dominate the market in the future since it is the fastest-growing category.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Smart Lighting Market Outlook
• Market Size of India Smart Lighting Market, 2022
• Forecast of India Smart Lighting Market, 2029
• Historical Data and Forecast of India Smart Lighting Revenues & Volume for the Period 2019 - 2029
• India Smart Lighting Market Trend Evolution
• India Smart Lighting Market Drivers and Challenges
• India Smart Lighting Price Trends
• India Smart Lighting Porter's Five Forces
• India Smart Lighting Industry Life Cycle
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Offering for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Hardware for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Software for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Services for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Installation Type for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By New Installations for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Retrofit Installations for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By End Use Application for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Indoor for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Outdoor for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Communication Technology for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Wired for the Period 2019 - 2029
• Historical Data and Forecast of India Smart Lighting Market Revenues & Volume By Wireless for the Period 2019 - 2029
• India Smart Lighting Import Export Trade Statistics
• Market Opportunity Assessment By Offering
• Market Opportunity Assessment By Installation Type
• Market Opportunity Assessment By End Use Application
• Market Opportunity Assessment By Communication Technology
• India Smart Lighting Top Companies Market Share
• India Smart Lighting Competitive Benchmarking By Technical and Operational Parameters
• India Smart Lighting Company Profiles
• India Smart Lighting Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Offering

• Hardware
• Software
• Services

By Installation Type

• New Installations
• Retrofit Installations

By End Use Application

• Indoor
• Outdoor

By Communication Technology

• Wired
• Wireless