What lies ahead for smart lighting market in India?
According to news reports, by the year 2020, the Indian lighting industry will reduce electricity consumption to 13% from an 18% at the moment. This is a significant drop considering that the majority of lights used in the country are incandescent, halogen, fluorescent lamps, which consume a lot of electricity in comparison with the light emitting diode (LED) bulbs which consume less electricity and are also environment friendly. While the shift to the LED bulbs is a giant leap in the direction of energy conservation, there is another factor which is propelling the growth of the LED bulbs in the lighting industry. ‘Smart lighting’ is a new concept that is getting a lot of consumer as well as manufacturer attention. It’s an emerging lighting technology which connects through the internet of things and through remote sensors, operates independent of switches and other gears which are essential for the traditional form of lighting.
If research reports are to be believed, then the Smart lighting market in India is on a growth trajectory with more and more demand for this novel form of lighting generating due to rise in the adoption of smart homes. How are these two connected? Well smart homes are homes which have modern amenities and appliances that are all interconnected through the power of IoT. Air conditioners that can be started remotely long before one gets home, so they find their home absolutely chilled just as they like it after a long day’s work. Refrigerators which can help in planning grocery and remind you when some essentials are finishing, lights that change according to the number of inhabitants in the room, are all classic example of smart home amenities and appliances.
What are the market drivers for the Indian smart lighting industry? Looking at the pace of its penetration in the metros and the significant adoption of smartphones by millennials, it appears that the millennial generation is the biggest market driver for both smart lighting market as well as the smart home market. Besides, the convenience and security that come with enabling smart lights at home is incomparable to anything else. These are two very emotional drivers for the Indian household. Also, smart lights being the easiest entry barrier to a smart home, it’s likely to grow even further. As per a Gartner prediction, there will be nearly 2.54 billion units of smart light installed by 2020.
What are the trends in the smart lighting industry?
One of the biggest trends to watch out for in this industry is the decentralization of power. In a 1.2 billion population, the government is yet to cover 0.3 billion population with electricity. As this happens, the demand for electricity will go up. However, there are many families which are now producing electricity for themselves through solar panels cutting their dependency on power grids. This green electricity will be very effective for the environment as well as make for a very smart collaboration with smart lights.
Smart city lighting is the second most ambitious trend which will attempt at cutting down electricity wastage through streetlights. Street lighting is costing the government a good deal of money and yet there is enough scope for improving and cutting costs by enabling streetlights with sensors and connecting them to a central unit.