Market Research Report
India Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025
|Published by||iGate Research Pvt Ltd||Product code||918186|
|Published||Content info||150 Pages
Delivery time: 1-2 business days
|India Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025|
|Published: December 9, 2019||Content info: 150 Pages||
The Indian smart home market is expected to surpass US$ 9 Billion by 2025. Smart homes are the residences that are equipped with information and computing technology devices that anticipates and responds to the requirement of the owner in an effective and efficient manner. Smart Home systems in India have witnessed an unprecedented demand in the recent years, due to increased concerns for safe and secure living environment, especially concerning safety functionalities and discrete monitoring for elderly people, especially in urban areas. The rising need for consumer convenience, safety and security, energy consumption is the major driver of the smart home market. Moreover, factors such as improved lifestyle, increase in disposable income of people, and surge in awareness about smart automated systems have boosted the adoption of smart home devices, thus driving the India smart home market growth.
In India, the share of population over the age of 60 is projected to increase from 8 percent to nearly 20 percent in 2050. This demographic trend is expected to continue and will significantly influence social and economic structures. Also, the explosive population growth and dynamic shift in urban sprawl, coupled with the economic growth of megacities in the emerging economies, would pose a variety of opportunities for companies operating in the smart home market segment. According to The World Bank, in 2018, over 34% of the Indian population lived in urban area. By 2030, roughly 41% of the population is expected to live in urban areas. This creates an enormous opportunity for the smart home market players.
The India smart home market is driven by factors such as significantly growing IoT market, cost reduction measures enabled by home automation systems, manufacturers expanding their product portfolios, and increasing importance of home monitoring from remote locations. With the increasing demand of smart home devices, security and privacy breach is also increasing. The issues pertaining to privacy and security breach are restraining the growth of the smart home market.
iGATE RESEARCH report titled "India Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025" provides a comprehensive assessment of the fast-evolving, high-growth India Smart Home Industry.
This 150 Page report with 43 Figures and 4 Tables has been analyzed from 8 viewpoints:
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.