Today, India deals with challenges of energy deficiency, sustainability, and electrification of remote rural regions. Of the entire energy consumption in India, lighting accounts for 20 percent. A very effective solution to India's lighting challenges that has emerged is Light Emitting Diode (LED). Awareness initiatives and government programs involving support to green technologies and provision for preferential excise rates has encouraged the LED lighting penetration in India.
Street lighting, industrial, and commercial applications are currently driving the LED market growth in India. The National Electronics Policy is bearing fruit, with India expected to witness establishment of LED Fabs and LED products manufacturing in the short term. With technological advancements, reliable product performance, increased competition, and reducing LED pricing, increased market adoption is expected across both indoor and outdoor LED lighting markets. Still, the LED market in India has its share of challenges such as relatively higher pricing, reliance on imports, and limited indigenous manufacturing.
Having tracked this highly dynamic market in India for half a decade, Frost & Sullivan expects the Indian LED market to grow over US$ 1 billion in the next four years. The market will witness a growth rate of more than 40 percent till 2016. It is also anticipated that the LED lighting market will move towards high quality, adaptable lighting with more efficient output. The market will witness a convergence scenario with other technology areas like wireless sensors and networks, augmented reality, and flexible electronics. This will shift emphasis to the lighting system as a whole.
As the LED revolution impacts India, and also opens up new avenues of application, it is vital to keep in perspective various business dynamics faced by LED lighting suppliers and end users. In this context, Frost & Sullivan's Electronics & Security Practice is glad to host its 4th Annual Executive Congress on LED lighting titled, Leading India's Green Energy Revolution on July 8th, 2014 in The Imperial, New Delhi.