Although these features position the smart bulb, called IOTA Lite, as a novel product in the Indian market, what might be a dampener is the product’s price tag. At INR 1,499 apiece, the smart bulb might be considered as being heavy on the pocket by more than a few Indian households. Prices of LED bulbs with a 9W rating average INR 350 in the Indian market.
Saurav Kumar, the CEO and co-founder of Cube26, told Indian media persons at an event this week that smart bulbs are poised to be a pivotal feature of smart homes, given that lighting is an indispensable part of any residential or commercial property. IoT is making a headway into every major industrial vertical worldwide and this is expected to be no different in the Indian context.
The start-up, which has been funded by Tiger Global, has started selling its smart bulb via Indian e-commerce site Flipkart last week. The home automation market is growing by leaps and bounds, and is expected to sustain its momentum steadily over the next few years. Smart lighting is poised to be one of the leading segments of the global home automation market, and early movers in this space will have a greater chance of asserting their dominance in sales.