The advent of LED has changed the entire landscape of the industry for good, and today LED is the preferred choice of both commercial and residential customers. The customers are flummoxed by the many benefits in terms of style and usage, ROI, life span, energy saving and environment friendliness. The government of India has played a very critical and path breaking role in creating the requisite awareness amongst the people to adopt this revolutionary technology. As of now the government has distributed more than 25crore LED’s under its pet scheme UJALA saving more than 32 million kwh of energy, which are staggering numbers. The global practices, focus on R&D and use of best practices by the lighting industry makes it best in the world in terms of quality and quantity and will remain so.
As of now, the industry is focusing on new technologies like OLEDs and Li-Fi. OLED lighting is primed to be far superior to conventional lighting solutions. With OLEDs, light is naturally diffused across a panel rather than harsh piercing points of light, benefiting both the end user and overall energy consumption while Li-Fi Offers broadband Internet connection through electric light, which fits perfect with the IoT target of connecting everything that can be connected, like an entire city, state or country and its people.
Looking ahead: According to guess-estimates, the LED Lighting market in India in 2016-17 was around Rs.9,900 crore and is growing quite rapidly. It is estimated that the LED lighting market will reach Rs.17,400 crore by 2019-20 and to around Rs.23,000 crore by 2021-22. With the growth, the lighting industry has changed drastically too. From a handful of manufacturers, suddenly there is an explosion in the number of brands across the board. The demand is likely to increase mainly in outdoor and to some extent in consumer segment as well. With the sheer focus and will it can fully replace CFL and incandescent from the country. The country with “Make in India” approach could be a hub of manufacturing LEDs and can be an export hub for lighting solutions for world.
