Green buildings, factories and solar photovoltaic powered systems are all gradually getting hooked to LED lighting systems.
It is just a matter of time when the prices will come down paving way for its mass adoption, according to lighting major Philips India.
LED lighting is the next big thing in India. Known for power saving and durability, its adaption is happening across commercial establishments, public places and home applications. Large corporate entities like Infosys, IT special economic zones and projects such as Mahindra City in Chennai have all taken to LED lighting.
Philips India has a market share of over 30 per cent in a lighting market of Rs 7,600-7,800 crore (as of 2010). The LED lighting market, estimated to be $100 million (about Rs 500 crore), is heading to be a half a billion dollar market by 2015 ($480-500 million), Mr Nirupam Sahay, President, Lighting India for Philips Electronics India, said quoting Frost & Sullivan.
Mr Sahay told Business Line the Indian lighting market is growing at over 10 per cent a year. But the LED lighting business is expected to gather pace as its prices come down. The trends point towards a gradual shift towards LED as users see value in LED lighting systems not just for their durability but the overall cost savings.
Philips with two manufacturing bases in India and research and development centres has focussed on customisation and innovating for local requirements. Based on the feedback, the thrust is on retro fitting lighting systems. “To enable consumers to experience Philips lighting systems, we have established 65 Light Lounges across 42 cities and have 700 Light Shoppes in larger stores. This has meant easy access,” he said.