The emerging technologies have been changing the lighting industry over the past decades, which covers the movement from halogen lamps to incandescent bulbs to Light Emitting Diodes (LEDs). The developing economies which have been lagging behind the developed economies in terms of technological acceptance level are now being considered among the target markets for new product launches.
Indian lighting market has been witnessing a shift from traditional light sources to non-conventional products such as LEDs. Although, the product manufacturing companies still have to rely heavily on imports for LEDs supply, yet the market is witnessing high growth owing to government support in terms of favorable import policies and subsidies in the consumer segment. A similar trend has also been witnessed in other LEDs product markets as well where LED displays are replacing the traditional displays and LED sign boards are replacing conventional boards changing the ways the marketing is being done.
The study of Indian LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies, and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business.
According to Infoholic Research, Indian LEDs market is expected to grow at a CAGR of 32.0% during the forecast period 2016–2022 to reach $3.4 billion by 2022. Lighting segment is expected to contribute the largest contribution towards the growth whereas the highest growth is expected from mobile devices segment which is expected to be benefitted by technological development, decreasing LEDs price and increasing disposable income of Indian consumers.
Improving standard of living with developing economy along with decreasing LEDs price is resulting in increasing affordability of LED products, providing potential for market growth via replacement of traditional light sources. Further, market penetration for LED products is continuously increasing, driven by increasing literacy levels and technological awareness. Many international players have established their manufacturing set-ups in India in order to reap benefits of growing Indian market. Some of the prominent players in Indian LED market are OSRAM India Pvt. Ltd., Kwality Photonics Pvt. Ltd., Havells India Limited, and SYSKA LED Ltd. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
This study covers and analyzes one of the growing and revolutionizing markets in terms of light sources in India – Light Emitting Diodes (LEDs). Bringing out the complete key insights of this market, the aim of this report is to provide the business opportunities for players to understand the adoption rate of LEDs types in various industry sectors, latest trends, current and future market scenarios, and emerging technologies related to the Indian LEDs market. Some of the key points featured in the report aiming to help the industry participants are mentioned below.
The report provides a complete detail about the LEDs’ adoption rate, applications and major market trends, drivers, restraints and opportunities in each LED product application areas and the market trends which are going to support the LEDs adoption in each industry. These information helps the stakeholders to understand about the current and future market scenarios to focus or expand/invest in specific verticals.
This report helps the stakeholders to understand the market competitiveness and available opportunities in Indian LEDs market. The analysis of the study provides an opportunity to the players to improve their current business approach by providing strategic intelligence about the competition. Some of the key industry players profiled include Havells India Limited, Osram India Pvt. Ltd., SYSKA LED Lights Pvt. Ltd., among others.
This study also provides the competitive landscape of the leading players specific to LEDs market that helps them to understand about their competitor’s landscape.
The report can also be tailored as per the specific information required by the users. The customization of the report is available on the basis of product markets, vendor profiles, other light sources, and sub-application level.