Kenneth Research, in its repository of market research reports, has recently added a report on India Architectural Lighting Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The India Architectural Lighting Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for India Architectural Lighting Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on India Architectural Lighting Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The India Architectural Lighting Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of India Architectural Lighting Market By Type (Traditional Lighting, LED Lighting and Others), By End Use (Residential, Commercial, Industrial and Others) and By Region (North, West, South and East).
According to Azoth Analytics research report “India Architectural Lighting Market – By Type (Traditional Lighting, LED Lighting and Others), By End Use (Residential, Commercial, Industrial and Others), By Region (North, West, South and East) : Opportunities and Forecast (2017 – 2022)”, market in India is projected to display a robust growth represented by a CAGR of 5.78% by value during 2017–2022, chiefly driven by increase in disposable income in the country as well as rapidly growing urbanization.
Among the segments, traditional lighting products such as CFL, held the majority market share of more than x%, by value, in the year 2016. However, LED based architectural lighting products are projected to witness fastest growth. Rising environmental awareness amongst the Indian consumers in addition to eroding prices of LEDs has been instrumental in driving the ample growth rate of LED products in the region. Additionally, growing awareness regarding the benefits of energy efficient architectural lighting solutions has also been fuelling the growth in the market. Furthermore, younger consumers in the country are much more attuned to the trends in the global architectural lighting market and are thus demanding similar high end products but at a reasonable price. As a result, the architectural lighting manufacturers have been introducing an array of innovative yet economical products in the market, thereby, driving the regional growth.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Among the regions, North and South India together represents the largest regional market for India architectural lighting, chiefly driven by high per capita income as well as disposable income. The challenge that the architectural lighting market in India has been facing is the presence of extensive number of domestic and international players in the country, which has made the regional market highly competitive.
The report titled “India Architectural Lighting Market – By Type (Traditional Lighting, LED Lighting and Others), By End Use (Residential, Commercial, Industrial and Others), By Region (North, West, South and East): Opportunities and Forecast (2017 – 2022)”, has covered and analysed the potential of architectural lighting market in India and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the India architectural lighting market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Scope of the Report
India Market (Actual Period: 2012-2016, Forecast Period: 2017-2022)
• India Architectural Lighting Market, By Value
• India Architectural Lighting Market, By Type (Traditional Lighting, LED Lighting and Others), By Value
• India Architectural Lighting Market, By End Use (Residential, Commercial, Industrial and Others), By Value
Regional Markets – North India, East India, West India and South India (Actual Period: 2012-2016, Forecast Period: 2017-2022)
• Architectural Lighting Market, By Value
• Architectural Lighting Market, By Type (Traditional Lighting, LED Lighting and Others), By Value
• Architectural Lighting Market, By End Use (Residential, Commercial, Industrial and Others), By Value
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