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India Outdoor LED Market Analysis - Size and Forecast 2024-2028

India Outdoor LED Market Analysis - Size and Forecast 2024-2028

Published: Nov 2024 138 Pages SKU: IRTNTR72198

Market Overview at a Glance

$281.7 Mn
Market Opportunity
13.3%
CAGR
11.2
YoY growth 2023-2024(%)

India Outdoor Led Market Size 2024-2028 

The india outdoor led market size is forecast to increase by USD 281.7 million at a CAGR of 13.3% between 2023 and 2028.

  • The market is witnessing significant growth due to the increasing demand for energy-efficient lighting solutions for various applications. A key trend driving market growth is the introduction of intelligent lighting systems, which offer features such as motion sensors and dimming capabilities. However, the market also faces challenges, including the threat of counterfeit products that can negatively impact the market's reputation and consumer trust. To mitigate this issue, regulatory bodies are implementing stricter quality standards to ensure the authenticity and safety of LED products. Overall, the market's growth is expected to continue as the government's push for energy efficiency and infrastructure development creates new opportunities for outdoor LED applications.

    • What will be the size of the India Outdoor Led Market during the forecast period?

    Outdoor LED Market in India Size

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  • The market is experiencing significant growth due to the increasing demand for energy-efficient solutions and the push towards green infrastructure in various sectors. Smart lighting systems, incorporating IoT connectivity and solar-powered LED fixtures, are becoming increasingly popular for their energy conservation benefits and contribution to smart city projects. Construction projects, including smart cities, stadiums, and transportation services, are major contributors to this trend. LED technology, including intelligent light-filling technology and laser lights, is being adopted for its aesthetic appeal and wireless technology enables easy installation and product testing cost savings. Outdoor LED lighting is also being implemented in public places such as parks, tourism sites, and horticulture projects to enhance the visitor experience.
  • The market is expected to continue growing as India focuses on infrastructural development and the implementation of advanced lighting systems in various industries. The use of LED lighting in outdoor settings not only reduces energy consumption but also contributes to the carbon footprint reduction efforts In the country.

    • How is this market segmented and which is the largest segment?

    The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Distribution Channel
      • Offline
      • Online
    • Application
      • Billboards
      • Video walls
      • Permiter LED boards
      • LED matrix board
      • Others
    • Geography
      • India

    By Distribution Channel Insights

    • The offline segment is estimated to witness significant growth during the forecast period.

    Outdoor LED lighting is a significant segment of India's lighting market, with a growing emphasis on energy efficiency and smart technology. In 2023, offline distribution channels dominated the market, generating the largest revenue share. Convenience stores were the leading contributors, owing to their strategic locations and attractive discounts. Consumers prefer purchasing outdoor LED products from retail stores due to the wide product range and expert customer service. Key features of outdoor LED lighting include carbon footprint reduction, smart lighting systems with IoT connectivity, solar-powered fixtures, and intelligent light-filling technology. Applications span from commercial facilities, public spaces, and transportation services to sports complexes, horticulture, and tourism.

    Advanced lighting systems, such as laser lights and wireless technology, are increasingly popular for their energy conservation and aesthetic appeal. New installations and retrofit lighting systems are also gaining traction, particularly in infrastructure advancements and smart city projects. Energy-efficient solutions, such as semiconductor chips and energy-efficient construction, are essential for reducing energy consumption. Outdoor LED lighting enhances safety and security in residential and commercial properties, as well as outdoor recreational spaces and public places.

    Outdoor LED Market in India Size

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    The Offline segment was valued at  USD 175.40 million in 2018 and showed a gradual increase during the forecast period.

    Market Dynamics

    Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

    What are the key market drivers leading to the rise in adoption of India Outdoor Led Market?

    Growing demand for LED lighting for different applications is the key driver of the market.

  • The market is experiencing significant growth due to the increasing adoption of energy-efficient lighting systems. LED technology, including smart lighting systems with IoT connectivity and solar-powered LED fixtures, is becoming a preferred choice for infrastructure developments and smart city projects. LED lights offer substantial energy savings, consuming up to 75% less energy than traditional incandescent bulbs and lasting 25 times longer. Moreover, the implementation of IoT technology in LED lighting systems, such as motion-sensor integration and Wi-Fi connectivity, enhances energy conservation and offers advanced diagnostic, predictive, and prescriptive analytics. The use of LED technology extends to various sectors, including commercial facilities, public spaces, sports complexes, horticulture, transportation services, and tourism.
  • Solar lighting and intelligent light-filling technology are also gaining popularity in outdoor applications, contributing to the growth of the market. The adoption of energy-efficient construction practices, such as Energy-efficient infrastructure and Energy-efficient solutions, further fuels the demand for LED lighting in new installations and retrofit projects. The use of LED technology is not limited to commercial applications but is also increasingly being adopted in residential properties and outdoor recreational spaces for aesthetic appeal and security. The integration of LED technology in smart home technology, such as augmented reality, e-commerce, and smart outdoor lights, is further expanding its applications.
  • The increasing demand for energy-efficient solutions and the government's push towards green infrastructure and sustainable development are expected to drive the growth of the market. The market is expected to witness further advancements with the development of advanced lighting systems, such as laser lights and plasma lights, and the integration of semiconductor chips for improved energy efficiency and lumens per watt.

    • What are the market trends shaping the India Outdoor Led Market?

    Introduction of intelligent lighting is the upcoming trend In the market.

  • Intelligent outdoor LED lighting systems are revolutionizing India's infrastructure development, particularly In the areas of smart cities, commercial facilities, public spaces, and sports complexes. These energy-efficient solutions incorporate IoT connectivity, solar-powered LED fixtures, and wireless technology to minimize carbon footprints and reduce energy consumption. Smart lighting systems use motion sensors, Wi-Fi, and diagnostic, predictive, and prescriptive analytics to optimize light distribution and intensity. Intelligent lighting systems offer significant benefits for various sectors. In commercial construction, they enhance aesthetic appeal, improve safety, and contribute to energy-efficient infrastructure. In the hospitality industry, they create ambiance and save on energy costs. For sports facilities, they provide optimal lighting for various activities, including laser lights for stadiums and plasma lights for horticulture.
  • Intelligent outdoor lighting systems also cater to utility-based lighting, decorative lighting, and security requirements in residential properties and outdoor recreational spaces. These systems are essential for smart city projects, as they contribute to energy conservation and are compatible with electric vehicles (EVs). With advanced lighting systems, India is moving towards energy-efficient construction and infrastructure advancements, paving the way for a sustainable future. The use of semiconductor chips in LED lighting technology ensures high lumens per watt, making them an attractive option for retail/wholesale establishments and transportation services. The integration of IoT-enabled lighting systems and control systems in outdoor living spaces, e-commerce, and smart home technology further enhances their functionality and convenience.
  • Overall, intelligent outdoor LED lighting systems offer a smart, sustainable, and cost-effective solution for various applications in India's infrastructural development.

    • What challenges does India Outdoor Led Market face during the growth?

    Threats associated with counterfeit products is a key challenge affecting the market growth.

  • The market is witnessing significant growth due to the increasing adoption of energy-efficient lighting systems in various sectors. IoT connectivity, solar-powered LED fixtures, and smart lighting systems are key trends driving the market. Green infrastructure is a major focus in construction projects, leading to the implementation of advanced lighting systems in smart cities. LED technology, including laser lights and wireless technology, is being used in retrofit lighting systems, Wi-Fi, and motion-sensor integration. Outdoor LED lights are being used extensively in sports complexes, public spaces, tourism, transportation services, horticulture, and public places. The wattage type and energy consumption of LED lights make them an ideal choice for energy-efficient infrastructure development.
  • Solar lighting is another significant trend, with many commercial facilities and public spaces opting for this renewable energy source. The market for outdoor LED lights is also being driven by the increasing popularity of smart city projects and the integration of IoT-enabled lighting systems. Diagnostic, predictive, and prescriptive analytics are being used to optimize energy efficiency and improve the aesthetic appeal of outdoor spaces. The use of semiconductor chips and intelligent light-filling technology is also gaining traction In the market. However, the availability of counterfeit outdoor LED products poses a significant challenge to the market. These products do not adhere to industrial safety and quality standards and can negatively impact the sales revenue of genuine manufacturers.
  • The market dynamics are unequal due to price standardization, leading to a tough competitive scenario. In conclusion, the market is expected to continue its growth trajectory due to the increasing focus on energy-efficient solutions, infrastructure advancements, and the integration of IoT technology. The market is diverse, with applications ranging from sports and commercial facilities to public spaces and residential properties. Despite the challenges posed by counterfeit products, the market is expected to remain dynamic and innovative, driven by the demand for energy-efficient and smart outdoor lighting solutions.

    • Exclusive India Outdoor Led Market Customer Landscape

    The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

    Outdoor LED Market in India Share by Geography

     Customer Landscape

    Key Companies & Market Insights

    Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the market.

    The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

    • Bajaj Electricals Ltd.
    • Delta Light NV
    • Dialight Plc
    • ERCO GmbH
    • Eveready Industries India Ltd.
    • Havells India Ltd.
    • HERA LIGHTING L.P.
    • Jaquar India
    • Koninklijke Philips N.V.
    • LEDVANCE GmbH
    • Opple Lighting Co. Ltd.
    • Orbit Lightings
    • Orient Electric Ltd
    • OSRAM GmbH
    • Panasonic Holdings Corp.
    • Surya Roshni Ltd
    • Syska Led Lights Pvt. Ltd.
    • The White Teak Co.
    • Wipro Ltd.

    Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

    Research Analyst Overview

    The market: A Growing Market Driven by Infrastructural Development and Energy Efficiency the market is experiencing significant growth due to various factors, primarily driven by infrastructural development and the increasing emphasis on energy efficiency. The market is witnessing a surge in demand for LED lighting solutions in various sectors, including commercial facilities, public spaces, and infrastructure projects. LED technology has emerged as a preferred choice for outdoor lighting due to its energy efficiency and long-lasting nature. The ability of LED lights to consume less energy compared to traditional lighting systems makes them an attractive option for large-scale outdoor installations, such as smart cities and energy-efficient construction projects.

    The Indian government's push towards sustainable infrastructure and energy conservation is a significant factor driving the growth of the outdoor LED market. The adoption of LED lighting in various sectors, including transportation services, sports complexes, and horticulture, is on the rise. Solar-powered LED fixtures are also gaining popularity due to their eco-friendly nature and the availability of government subsidies for renewable energy projects. The construction sector is another major contributor to the growth of the market. With the increasing number of commercial and residential properties being constructed, there is a growing demand for energy-efficient lighting systems. LED lighting solutions offer significant energy savings and are an essential component of energy-efficient infrastructure.

    The adoption of IoT connectivity and intelligent lighting systems is another trend driving the growth of the outdoor LED market. IoT-enabled lighting systems offer various features such as motion-sensor integration, diagnostic analytics, predictive analytics, and prescriptive analytics. These features enable energy savings and enhance the overall functionality of outdoor lighting systems. The market is also witnessing the adoption of advanced lighting systems, such as laser lights and plasma lights. These advanced lighting systems offer improved light distribution, higher lumens per watt, and aesthetic appeal, making them a popular choice for outdoor recreational spaces, decorative lighting, and public places.

    The growth of the market is also driven by the increasing popularity of smart city projects. Smart city projects require advanced lighting systems that offer energy efficiency, longevity, and intelligent control systems. Outdoor LED lighting solutions are an essential component of smart city projects, providing energy savings, improved safety, and enhanced aesthetic appeal. The market is expected to continue its growth trajectory due to the increasing focus on energy efficiency, infrastructural development, and the adoption of smart city projects. The market is expected to witness significant growth In the coming years, driven by the increasing demand for energy-efficient lighting solutions and the availability of government incentives for renewable energy projects.

    In conclusion, the market is experiencing significant growth due to various factors, including infrastructural development, energy efficiency, and the adoption of smart city projects. The market is expected to continue its growth trajectory In the coming years, driven by the increasing demand for energy-efficient lighting solutions and the availability of government incentives for renewable energy projects.

    Market Scope

    Report Coverage

    Details

    Page number

    138

    Base year

    2023

    Historic period

    		 2018-2022

    Forecast period

    2024-2028

    Growth momentum & CAGR

    Accelerate at a CAGR of 13.3%

    Market growth 2024-2028

    USD 281.7 million

    Market structure

    Fragmented

    YoY growth 2023-2024(%)

    11.2

    Competitive landscape

    Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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    What are the Key Data Covered in this Market Research Report?

    • CAGR of the market during the forecast period
    • Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
    • Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
    • Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
    • Growth of the market across India
    • Thorough analysis of the market’s competitive landscape and detailed information about companies
    • Comprehensive analysis of factors that will challenge the growth of market companies

    We can help! Our analysts can customize this market research report to meet your requirements Get in touch

     

    Table of Contents not available.

    Research Methodology

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    INFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases

    DATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts

    REPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape

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    Frequently Asked Questions

    Outdoor LEDin India market growth will increase by $ 281.7 mn during 2024-2028.

    The Outdoor LEDin India market is expected to grow at a CAGR of 13.3% during 2024-2028.

    Outdoor LEDin India market is segmented by Distribution Channel( Offline, Online, Perimeter LED boards, LED matrix board, Others) Application( Billboards, Video walls, Permiter LED boards, LED matrix board, Others)

    Bajaj Electricals Ltd., Delta Light NV, Dialight Plc, ERCO GmbH, Eveready Industries India Ltd., Havells India Ltd., HERA LIGHTING L.P., Jaquar India, Koninklijke Philips N.V., LEDVANCE GmbH, Opple Lighting Co. Ltd., Orbit Lightings, Orient Electric Ltd, OSRAM GmbH, Panasonic Holdings Corp., Surya Roshni Ltd, Syska Led Lights Pvt. Ltd., The White Teak Co., Wipro Ltd. are a few of the key vendors in the Outdoor LEDin India market.

    APAC will register the highest growth rate of 100% among the other regions. Therefore, the Outdoor LEDin India market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

    India, APAC

    • Growing demand for LED lighting for different applicationsThe commercial viability of LEDs has accelerated their use across different applications. They are increasingly deployed in retail is the driving factor this market.
    • hospitality is the driving factor this market.
    • architecture is the driving factor this market.
    • as well as other commercial and residential applications is the driving factor this market.
    • which increases the adoption of LED products in India. LED products are in higher demand is the driving factor this market.
    • compared with CFLs and LFLs is the driving factor this market.
    • because of their cost and energy-saving features. In addition is the driving factor this market.
    • growing awareness about power and energy conservation has triggered the adoption of energy-efficient lighting technologies is the driving factor this market.
    • particularly LEDs is the driving factor this market.
    • which consume at least 75% less energy than traditional incandescent bulbs and can last 25 times longer.Similarly is the driving factor this market.
    • LEDs consume 50% less energy than CFLs and can last up to four times longer. Manufacturers of lighting products have started focusing on energy-efficient and environment-friendly lighting solutions because of increasing awareness of green technology and decreasing prices of LEDs. The continuous decrease in the average selling price (ASP) of LED products is expected to have a positive impact on its penetration and market size considerably during the forecast period is the driving factor this market.
    • both in the residential and commercial sectors. Also is the driving factor this market.
    • the outdoor LED market in India has a large number of LED product manufacturers like Havells India Ltd is the driving factor this market.
    • SH Group is the driving factor this market.
    • Inc is the driving factor this market.
    • and Koninklijke Philips N.V. These factors are expected to boost the growth of the outdoor LED market in India during the forecast period. is the driving factor this market.

    The Outdoor LEDin India market vendors should focus on grabbing business opportunities from the Offline segment as it accounted for the largest market share in the base year.