India Smart Home Market Research Report, 2027-28

A smart home refers to a convenient home arrangement where appliances can be automatically controlled remotely from anywhere with an internet connection using a smart phone or other networked device. In Indian households, people are making a swing towards smart equipment as they look for more gear that takes care of routine tasks like operating lights, blinds, fans, heaters, ACs, and various other appliances. With recent technological advancements in the world, the field of home automation has seen quite a surge in its market. According to the report title, "India Smart Home Market Research Report, 2027-28," the smart home market in India grew at a CAGR of more than 38% during the historical time period, with more than INR 2800 Crore market size in 2021-22. The technology that brought a revolution in the field of smart home automation is the Internet of Things (IOT). The smart home market in India is segregated into three segments, i.e., residential, hospitality, and commercial. The residential sector is leading the market with the highest market share, whereas the hospitality sector is leading behind the residential sector with more than 18% market share. The market is divided into three major segments based on application: home automation, security, and energy management. Home automation consists of lighting, blinds, hub/server, and entertainment. In 2021-22, the lighting and entertainment segments account for more than 65% of the market. By operating technology type, the home automation market is segregated into four parts, i.e., Zigbee, BLE, Zwave, and Wi-Fi technology. Zigbee technology is a prominent technology in the market and the penetration of this technology is also higher than the other technologies. Smart homes, once hailed as the domain of the rich, are now slowly and steadily becoming a necessity for the common man in urban areas. The security and automatic control features seem to have attracted many households in many regions and cities of India. The Tier-1 sector is the most penetrated sector in the Indian home automation market. The penetration of home automation in Mumbai city is higher than in other major metro cities. Mumbai is leading the market with the highest share and Bangalore is in second position in the market. Other metro cities, tier-2 and tier-3 cities are contributing to the market with more than 55% market share in the smart home automation market in India. Cost effectiveness is one of the driving factors for the Indian home automation market. Multiple cities, especially Pune and Mumbai, witness considerable growth in adoption of smart home systems every year. These systems are backed by various competitors, which offer home automation at a low cost, thus increasing the scope of the Indian home automation market. A surge in economic video surveillance for security solutions that are integrated with real-time analytics is anticipated to boost the growth of the Indian home automation market. Moreover, the development of smart kitchen appliances such as smart coffeemakers, intelligent ovens, precision cookers, and smart grills has enhanced IoT for smart homes, which continues to provide profitable business opportunities to the players in the Indian home automation market. Smart appliances are expected to account for the maximum share in the Indian home automation industry. For instance, in 2020, with more than 700 million smartphone users in India, mobile connectivity and availability of easy-to-install applications like air purifiers, smart TVs, smart refrigerators etc., demand for smart appliances will rise in India. Further, the adoption of comfort and lighting systems is growing as the need for reducing energy consumption rises. This is further resulting in the integration of lighting products in-built with technologies such as IoT and cloud-based sources. However, the market penetration of home automation systems in India is lower as compared to other developing nations, owing to the limited connectivity and lower average bandwidth. Furthermore, the lack of standardization of products and components in smart homes can lead to the failure of the system. Such factors hamper the Indian home automation market's growth. There has been a rise in smart home startups such as Oakter, Inoho, IFIHomes, and Home Brain in India owing to the government of India's programmes such as "Make in India" and "Digital India". Many players are developing advanced technologies and devices for the smart home industry in India. For instance, Schneider Electric launched the Easergy P3 in the Indian market in May 2018. It is a medium-voltage protection relay that combines real-time analytics with advanced technologies and solutions powered by the Internet of Things. Similarly, Apple Inc. developed HomeKit, which allows iPhone users to control individual smart home devices such as garage door openers, lights, and security cameras. These factors offer lucrative growth opportunities for the Indian home automation market. The key players operating in the market include Fueblabs, Larsen & Toubro, Schneider, Johnson Controls, Harman International, Home Brain, PERT, Silvan Innovation, Oakter, and Elan Home Systems. Many players in the Indian home automation market have adopted product launch, product development, collaboration, and business expansion as their key developmental strategies to sustain the intense competition and improve their product portfolio. For instance, Harman Professional Solutions collaborated with Zoom Video Communications, Inc. in February 2019 to improve their products for controller applications for commercial spaces. Through this collaboration, companies have developed the AMX Acendo Core Collaboration System and the Zoom Meetings service with the Zoom Rooms Controller app. Similarly, Johnson Controls launched Metasys 10.0 in December 2018. It is designed to deliver more unified building management. It provides facility personnel with smarter building automation, faster responses to critical alarms, and new integrations in fire detection, security, and lighting systems with a single common interface. Furthermore, Nortek Security and Control, LLC expanded its Nortek Security & Control New Home Program in February 2019, which includes a complete line-up of solutions. It also includes smart home control, automation, security, access control, and entertainment solutions that cover every aspect of the home. Noida-based Aliste Technologies is providing smart home solutions for customers by combining environmental consciousness with luxury. Aliste Technologies offers smart appliances such as motion sensing devices, smart gate solutions, security devices like CCTV cameras, and touch-enabled switchboards that can be controlled with a mobile application. Apart from controlling the appliances, its mobile application allows changing mood lighting, provides smart analytics, and more. So far, the startup claims to have completed around 2,500 residential and hospitality projects across 25 Tier-I and Tier-II cities across India. Some of its projects have been in collaboration with big names like House of Hiranandani, T&T Builders, Taj Hospitality, and more. Aliste has also collaborated with channel partners in the industry like YK Almoayyed & Sons to take its products to countries like the UAE and Bahrain. COVID-19 Impacts: The Indian home automation market developed rapidly in 2020, a trend partially stimulated by COVID-19 and the fact that people have been forced to spend more time in their houses due to lockdown measures. This gives enormous opportunities to the companies and suppliers working in the home automation market to develop more innovative and user-friendly appliances to attract users. The temporary closure of manufacturing plants and later limited presence of staff impacted the production quantity across industries. During the initial months of the year 2020, home automation devices and products witnessed a significant fall in their production along with an unstable supply chain. Also, the spending share on smart devices was reduced owing to the unpredictable economic crisis. This has negatively affected the growth, and year-on-year growth witnessed a dip during the year 2020. However, the stay-at-home restrictions to curb the virus' spread pushed the market demand steadily. As per the key experts in the market, this has boosted the demand for efficient home energy-saving smart devices to monitor energy consumption and reduce utility bills. Similarly, it resulted in rising demand for smart TVs, smart set-top boxes, streaming sticks with voice commands, and more. Various market players witnessed a rise in demand for voice-controlled smart home devices as the stay-at-home period prolonged worldwide owing to increasing cases. Similarly, to reduce face-to-face interaction and boost home safety, the adoption of smart doorbells with voice control, video cameras, facial recognition, and more is increasing during pandemics. Thus, in the long term, the COVID-19 pandemic restriction is expected to boost the home automation market share in India. Considered in this report • Geography: India • Base year: 2021-22 • Estimated year: 2022-23 • Forecast year: 2027-28 Aspects covered in this report • India Smart Home market with its value and forecast • Segment-wise India Smart Home market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Types of Segment in Smart Home in the report • Residential • Hospitality • Commercial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Home industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. “India Smart Home Market Research Report, 2027-28” discusses the following aspects of Smart Home Market in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of Smart Home in India: • India Smart Home Market Research Report • India Smart Home Market size By Value with Forecast • India Organized Smart Home Market • India Organized Smart Home Market size By Value, Market share with Forecast • India Residential, Hospitality, Commercial Smart Home Market Research Report • India Residential, Hospitality, Commercial Smart Home Market Size By value and Forecast • Product Portfolio By Company • The key vendors in this market space This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various manufacturers of wind turbines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

What's Inside a Actual Market Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

Make this report your own

We're excited to discuss your needs and our solutions. Let's schedule a call.

Ask an Expert

Kripa Shah

Senior Analyst

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now