A new report published by Research on Global Markets titled "Smart Lighting Market In India (2018-2023)" studies the performance of the smart lighting market in India over a five year assessment period from 2018 to 2023. The report presents the value forecast of the smart lighting market in India and provides key insights into the factors driving market growth as well as the factors restricting market growth. According to the Research On Global Markets analysts, smart lighting market in India is projected to expand at a compound annual growth rate (CAGR) of approximately 38.44% during the 2018-2023 period, to reach a value of INR 373.7 Bn by 2023.

Smart Lighting Market in India – Market Segmentation

The report published by Research On Global Markets features comprehensive analysis of the different segments of the Indian smart lighting market based on offering, lighting source, communication technology, and application type Among the different smart light sources used in India, the Light Emitting Diode (LED) bulbs segment holds the largest share (68%), owing to its cost-effectiveness and energy saving features. Attractive discounts and rebates are also driving the market for LED bulbs, which are used for smart lighting across the country.

In terms of application, 55% of smart lighting is used indoors, while the remaining is used for outdoor locations. Steady adoption of connected lighting systems in residential and commercial zones is primarily contributing to the greater share of indoor applications in the Indian smart lighting market. Moreover, within the communication technology segment, wired technology dominates the market with almost 62% market share, according to Research On Global Markets.

Smart Lighting Market in India - Market Insights

The market research report attributes the positive outlook on the smart lighting market in India to the rising per capita income and awareness about contemporary technological advancements, which is considerably influencing the consumers toward adopting these technologies. However, high cost of IoT-enabled systems is hindering the growth of the smart lighting market in India.

Research on Global Markets tracks the performance of some of the major players operating in the smart lighting market in India including Ajanta India Ltd., Bajaj Electricals Ltd., Havells India Ltd, Osram India Pvt Ltd., Philips India Ltd., Samsung India Electronics Pvt. Ltd., Schneider Electric India Pvt. Ltd., Syska LED Lights Pvt Ltd., and Wipro Ltd., among others.

Some of the key topics covered in this report are:

• Smart lighting market in India - definition and structure
• Market size and growth forecast – value-wise (2017-2023e)
• Smart lighting market in India - market segmentation
• Key market trends
• Comprehensive analysis of the government initiatives in this market
• Key growth drivers of the market
• Key deterrents to the growth of the market
• Comprehensive analysis of the competitive landscape

For more information on this market, request a free sample report.