New Delhi: Indian LED market will touch more than Rs 200 billion in terms of revenue by FY 2019 due to increasing awareness about the uses of LED lights and falling prices, according to a report.
The growth is majorly originated from increasing government initiatives and falling prices, says Ken Research report.
The LED market in India comprises players such Philips, Havells, Syska LED lights, Osram and Bajaj among others. India LED market has grown at a CAGR of 56.1% in terms of revenue generated from FY’2009-FY’2014.
'A hike in the investment activity, technological advancements and rising personal disposable income will result in market growth,' Ken Research said in a statement.
'Additionally, inexpensive imports from China and lack of LED fabrication facilities act as hindrances in the Indian LED market.'
The LED industry is one of the most dynamic industries and plays an important role in the lighting sector of India.