Netscribes latest study “LED Market in India 2012” has been recently published by Market Publishers Ltd. According to the reports, increasing demand of consumer electronics is expected to emerge as a major growth driver for the Indian LED market.
Growing population and rise in income provides an impetus to the growth of the LED market in India. Demand from consumer electronics is expected to emerge as a major growth driver for the Indian LED market. Increasing usage in street lighting and growing indoor lighting applications is expected to boost the growth prospects of the LED market in India.
The players operating in the market also face challenges which are impeding their development and growth. High initial cost barrier has emerged as a major challenge hindering the market growth. Lack of consumer awareness and high import dependency are also expected to have an unfavorable impact on the growth of the LED market in India.