A recent report titled, ‘Connected LED to Drive the Next Wave of Growth for the Lighting Market in India’, by Research and Market, states that “The connected LED lighting market in India is forecast to generate revenue of INR 6,922.2 million by FY2025 expanding at a Compound Annual Growth Rate (CAGR) of 19.3% from FY2020.”
Connected lighting refers to luminaries that are seamlessly integrated into the network of a building/space/city such that they can be monitored and provide valuable information regarding their usage. The luminaires are either programmed to operate in a particular pattern or fitted with sensors to capture information.
A connected lighting system provides innovative experiences to people, supports management in devising a granular energy management approach, and helps in integrating the entire system.
As per the report, the wireless smart lighting market will grow significantly at a CAGR of 20%-22% between 2020 and 2025 owing to the integration of advanced technologies, such as Bluetooth, ZigBee and Wi-Fi into lighting solutions. The proliferation of Internet of Things (IoT) devices has paved the way for the growth of the smart lighting market. With advancements in IoT and wireless communication technologies, lighting component manufacturers have started focusing on enabling wireless connectivity into lighting fixtures.
It points out that the tech-savvy young population is also increasingly adopting new technologies and features. There is a growing need for replacing conventional systems, coupled with increasing consumer awareness toward the adoption of energy-efficient and sustainable solutions.