Luminous Power Technologies Enters into the Automation Segment
Luminous Power Technologies has made entry into the home automation segment. Initially, it will be offering products in select markets.
Home automation refers to usage of wires and switches solutions to ensure a series of connected devices/ appliances at home. The home automation market is estimated to be at $1.5 billion in India, with an annual growth of 30 percent.
The products in the segment include motion sensors, smart plugs and smart switches. Few appliance makers have til now ventured into the segment. Right now, brands like like Anchor (Panasonic Life Solutions), Syska, Schneider Electric, Legrand and Crabtree offer home automation solutions.
Luminous is a part of Schneider Electric India. French multinational Schneider Electric had acquired 74 percent stake in this Delhi-headquartered company in 2011. Later in 2017, the remaining 26 percent acquisition was also approved by the Competition Commission of India.
A home automation system will control lighting, climate, entertainment systems, and appliances. It may also include home security such as access control and alarm systems. This connects to one central hub that acts as a controller for the entire home.
In MCB switches space, brands like Anchor (Panasonic Life Solutions), Legrand, Havells and Polycab operate across India. The switchgear market in India is estimated to be around Rs 2,500 crore.
Among the product categories, Luminous is also gearing up to the new star rating norms for fans that will come in from July 1, 2020.
Source: Moneycontrol
