Market Research Report
India Home Automation Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis
|India Home Automation Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis|
Published: November 1, 2021
Content info: 165 Pages
Delivery time: 1-2 business days
Indian home automation market has seen considerable advancements since 2018. 'Digital India' Program promotes high-speed internet connectivity across the country, and the government welcomes smart home businesses to capitalize on this profitable opportunity. The home automation market in India is currently in its nascent stage. The demand for connected homes is expected to witness sizeable growth soon. Home Automation is a term applied to represent the working of all home appliances together and to control things by using a tablet, Android smartphone, or computer having internet connectivity. Home automation products are fast becoming from luxury to a must-have for every middle-class household in India. According to Renub Research, Indian Home Automation Industry will grow with a double-digit CAGR of 15.62% during 2021-2027.
As per our research, in 2020, India was ranked with the third-highest number of smart homes worldwide; this further enhances the fact that the demand for home automation solutions is on the rise in India. The home automation market is driven by an increase in the number of start-ups aiming to make affordable smart home products, which is attractive to a more extensive section of people. Efforts by the Indian government to support the Make in India initiative and Digital India campaign and the aim of smart city development are all influencing the adoption of smart devices into homes.
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.
Based on type, the India home automation market includes Comfort & Lighting, Control & Connectivity, Energy Management, Home Entertainment, Security and Smart appliances. Smart Appliance is expected to cover 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 TV, Smart Refrigerators etc, demand for smart appliances will rise in India. Further, the adoption of Comfort & 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.
Rising Adoption of Wireless Technology to fuel demand in Indian Home Automation Industry
On the basis of Technology, the India home automation industry is segmented into Wired and Wireless. Automated control systems have been simplified with the appearance of various wireless technologies such as Bluetooth and ZigBee. Different standards for home automated controls such as EnOcean and Z-wave have increased the adaptability of wireless Technology in the home automation industry in India. Notwithstanding, advancements in Technology wired and wireless automation systems are fuelling their adoption across different end-user like Residential, Commercial and Hospitality. Residential usage has a significant market share in the Indian home automation industry due to use cases around connectivity, security, and entertainment.
There has been a steady growth in the home automation market in the last few years, but major metros cities like Pune, Mumbai, Delhi NCR and Bengaluru remain the top locations in acceptance of home automation technology. Multiple cities, especially Pune and Mumbai, witness considerable growth in the adoption of smart home systems every year backed by various competitors, which offers home automation at a low cost, thus increasing the India home automation market scope.
Major players Larsen & Toubro, Schneider Electric, Johnson Controls International PLC., Honeywell and ABB are expanding their customer base across foreign countries. These key companies are leveraging on strategic collaborative actions to increase their market share and increase their profitability.
Renub Research latest Report "India Home Automation Market by type (Comfort & Lighting, Control & Connectivity, Energy Management, Home Entertainment, Security and Smart appliances) by End User (Residential, Commercial and Hospitality) by States (Pune, Delhi-NCR, Mumbai, Hyderabad, Ahmadabad, Bangalore, Chennai, Jaipur, Kolkata, Ludhiana, Chandigarh, Cochin, Coimbatore and Others) by Technology (wired and wireless) by Company Analysis (Larsen & Toubro, Schneider Electric, Johnson Controls International PLC., Honeywell and ABB)" provides complete details on India Home Automation Industry.