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NEW YORK , Aug. 1, 2022 /PRNewswire/ -- The outdoor LED market in India is forecasted to grow by USD 267.08 million , accelerating at a CAGR of 12.71%, between 2021 and 2026. Technavio segments the market by application (billboards, video walls, perimeter LED boards, LED matrix board, and others) and distribution channel (offline and online). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Key points covered in the outdoor LED market study in India :
Many companies are involved in LED lighting projects to promote the use of energy-efficient lighting sources and increase their market presence. This offers a tremendous opportunity to vendors, as governments across the world are striving to shift to outdoor LED-based street lighting.
Technavio categorizes the outdoor LED market in India as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components, and the equipment market cover companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment.
The market is primarily driven by the growing demand for LED lighting for different applications. Manufacturers of lighting products are focusing on energy-efficient and environment-friendly lighting solutions owing to the increasing awareness about green technology. Moreover, the decrease in the average selling price (ASP) of LED products will have a positive impact on the market. In addition, the market has numerous LED product manufacturers, such as Havells India Ltd, SH Group, Inc, and Koninklijke Philips N.V. These factors are expected to boost the growth of the outdoor LED market in India during the forecast period.
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The offline distribution channel segment will generate maximum revenue in the market. Outdoor LED products are mainly sold through offline distribution channels, which include specialty stores, hypermarkets, convenience stores, departmental stores, and other retail formats. Consumers prefer purchasing from retail stores, which offer a wide range of products as well as the necessary support.
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The outdoor LED market in India is fragmented, and the vendors are deploying growth strategies such as engaging in the acquisition of regional or local players to compete in the market. The market is highly fragmented and is defined by the presence of well-diversified international and regional vendors. International players are increasing their footprint globally. They are acquiring regional or local players to grow and expand their product lines and gain a competitive advantage.
Some of the key players in the outdoor LED market in India include:
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Outdoor LED Market Scope in India
Accelerate at a CAGR of 12.71%
Leading companies, Competitive strategies, Consumer engagement scope
Bajaj Electricals Ltd., ERCO GmbH, Eveready Industries India Ltd., Havells India Ltd., Koninklijke Philips NV, Orient Electric Ltd., Panasonic Corp., Surya Roshni Ltd., Syska LED Lights Pvt. Ltd., and Wipro Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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Exhibit 08: Value chain analysis: Electrical Components and Equipment Market
Exhibit 09: Offerings of vendors included in the market definition
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11: India - Market size and forecast 2021 - 2026 ($ million)
Exhibit 12: India market: Year-over-year growth 2021 - 2026 (%)
Exhibit 13: Five forces analysis 2021 & 2026
Exhibit 14: Bargaining power of buyers
Exhibit 15: Bargaining power of suppliers
Exhibit 16: Threat of new entrants
Exhibit 19: Market condition - Five forces 2021
Exhibit 20: Application - Market share 2021-2026 (%)
5.3 Billboards - Market size and forecast 2021-2026
Exhibit 22: Billboards - Market size and forecast 2021-2026 ($ million)
Exhibit 23: Billboards - Year-over-year growth 2021-2026 (%)
5.4 Video walls - Market size and forecast 2021-2026
Exhibit 24: Video walls - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Video walls - Year-over-year growth 2021-2026 (%)
5.5 Perimeter LED boards - Market size and forecast 2021-2026
Exhibit 26: Perimeter LED boards - Market size and forecast 2021-2026 ($ million)
Exhibit 27: Perimeter LED boards - Year-over-year growth 2021-2026 (%)
5.6 LED matrix board - Market size and forecast 2021-2026
Exhibit 28: LED matrix board - Market size and forecast 2021-2026 ($ million)
Exhibit 29: LED matrix board - Year-over-year growth 2021-2026 (%)
5.7 Others - Market size and forecast 2021-2026
Exhibit 30: Others - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Others - Year-over-year growth 2021-2026 (%)
Exhibit 32: Market opportunity by Application
6 Market Segmentation by Distribution channel
Exhibit 33: Distribution channel - Market share 2021-2026 (%)
Exhibit 34: Comparison by Distribution channel
6.3 Offline - Market size and forecast 2021-2026
Exhibit 35: Offline - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Offline - Year-over-year growth 2021-2026 (%)
6.4 Online - Market size and forecast 2021-2026
Exhibit 37: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Online - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by Distribution channel
Exhibit 39: Market opportunity by Distribution channel
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
8.1.1 Growing demand for LED lighting for different applications
8.1.2 Favorable environment policy and governmental support
8.1.3 Increased demand for energy-efficient lighting systems
8.2.1 Threats associated with counterfeit products
8.2.3 Growing popularity of digital marketing
Exhibit 41: Impact of drivers and challenges
8.3.3 Use of AI with outdoor advertising
Exhibit 46: Market positioning of vendors
Exhibit 47: Bajaj Electricals Ltd. - Overview
Exhibit 48: Bajaj Electricals Ltd. - Business segments
Exhibit 49: Bajaj Electricals Ltd. - Key offerings
Exhibit 50: Bajaj Electricals Ltd. - Segment focus
Exhibit 51: ERCO GmbH - Overview
Exhibit 52: ERCO GmbH - Product and service
Exhibit 53: ERCO GmbH - Key offerings
Exhibit 54: Eveready Industries India Ltd. - Overview
Exhibit 55: Eveready Industries India Ltd. - Business segments
Exhibit 56: Eveready Industries India Ltd. - Key offerings
Exhibit 57: Eveready Industries India Ltd. - Segment focus
Exhibit 58: Havells India Ltd. - Overview
Exhibit 59: Havells India Ltd. - Business segments
Exhibit 60: Havells India Ltd. – Key news
Exhibit 61: Havells India Ltd. - Key offerings
Exhibit 62: Havells India Ltd. - Segment focus
Exhibit 63: Koninklijke Philips NV - Overview
Exhibit 64: Koninklijke Philips NV - Business segments
Exhibit 65: Koninklijke Philips NV - Key News
Exhibit 66: Koninklijke Philips NV - Key offerings
Exhibit 67: Koninklijke Philips NV - Segment focus
Exhibit 68: Orient Electric Ltd. - Overview
Exhibit 69: Orient Electric Ltd. - Business segments
Exhibit 70: Orient Electric Ltd. – Key news
Exhibit 71: Orient Electric Ltd. - Key offerings
Exhibit 72: Orient Electric Ltd. - Segment focus
Exhibit 73: Panasonic Corp. - Overview
Exhibit 74: Panasonic Corp. - Business segments
Exhibit 75: Panasonic Corp. - Key offerings
Exhibit 76: Panasonic Corp. - Segment focus
Exhibit 77: Surya Roshni Ltd. - Overview
Exhibit 78: Surya Roshni Ltd. - Business segments
Exhibit 79: Surya Roshni Ltd. - Key offerings
Exhibit 80: Surya Roshni Ltd. - Segment focus
10.11 Syska Led Lights Pvt. Ltd.
Exhibit 81: Syska Led Lights Pvt. Ltd. - Overview
Exhibit 82: Syska Led Lights Pvt. Ltd. - Product and service
Exhibit 83: Syska Led Lights Pvt. Ltd. - Key offerings
Exhibit 84: Wipro Ltd. - Overview
Exhibit 85: Wipro Ltd. - Business segments
Exhibit 86: Wipro Ltd. – Key news
Exhibit 87: Wipro Ltd. - Key offerings
Exhibit 88: Wipro Ltd. - Segment focus
11.2 Currency conversion rates for US$
Exhibit 89: Currency conversion rates for US$
Exhibit 91: Validation techniques employed for market sizing
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