March 31, 2015: Indian Prime Minister Narenda Modi has promised that by 2019 he wants every home in India to have at least one light bulb. While Modi did not say that this bulb will be an LED bulb, but industry experts say that it cannot be imagined that LED lighting will not play a leading role in this campaign, as LED lights consume far less power than standard lights.
If this promise is kept it would mean massive opportunity for solar and LED providers. An estimated 300 million plus people in India are not connected to the grid and demand for power is anticipated to double by 2020, according to various estimates.
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% 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.
None of the facts and figures mentioned in the story have been created by BizLED.co.in. BizLED is not responsible for any factual errors.
Submit new products, case studies/projects, and press releases at [email protected]
If Modi keeps promise, India will become hot market for LED lights %%link%% appeared first on %%www.bizled.co.in%%