India is currently undergoing a massive digital transformation across a multitude of fields, and there is an overarching market sentiment that this transformation might only be the beginning of what’s to come.
This digital revolution has sparked a new sector that is currently the talk of the town in India and that is – Smart Homes, the sector which is expected to grow beyond $14 billion by 2026.
If you observe the current consumer behavior, people are increasingly buying products that convert or upgrade their homes into smart homes. The adoption rate of smart home products in India is testimony to the fact that it’s just a matter of time before every urban homeowner would proudly claim that they are living in a smart home.
Growth of Smart Home Automation Market in India
Let’s dive a little deeper into the growth of the Smart Home Automation Market especially in India. To begin with, convenience is one of the major reasons why a majority of urban citizens are converting their homes into smart homes.
These interconnected devices have created an ecosystem that has now expanded to include the home automation business. Many households in India now have smart Internet of Things (IoT) enabled devices such as Amazon Alexa, Google Home through which they can control their smart home appliances.
These devices that operate based on our voice commands are the foundation of today’s home automation revolution, which is slowly but surely leading us towards the creation of integrated smart homes. Smart lighting, safety, audio/video, and HVAC are the four key and in-demand products in today’s home automation market.
Homeowners have started shifting from normal lights to smart lights or smart bulbs which provide a unique control over mood lighting along with the convenience to switch it on/off from anywhere with the WiFi connection. They also prefer to play their music playlists with voice commands. This shows that residential use is the most prevalent accounting for over 60% of the home automation market.
Nearly 60% of India’s home automation market is made up of residential purchasers (from which individual homes and cottages account for 75-80 percent of the market and builders account for about 20 percent of the market).
This segment is increasing at a rapid pace, with a CAGR of 35-40 percent.
The home automation market, particularly in-home security systems, is very fragmented. The demand for improved security is particularly more for commercial properties.
In India, the most popular categories for smart homes include home appliances, entertainment, and safety and access control systems.
On the smart home market, demand for smart washing machines, refrigerators, and home energy dashboards, among other things, is likely to fuel demand for smart home equipment.
Commercial spaces account for 30% of the Smart Home Automation Market in India.
This component is mostly responsible for security and access systems. Along with that active building management systems are also gaining popularity in India.
Home automation is also used in the hospitality business, which accounts for 10% of the market. Security and lighting systems are also popular application sectors in this field.
Why do people need to use smart home devices?
The answer is simple. People want to lead more convenient, energy saving and stress-free lives, and who wouldn’t love to have someone helping them to control their homes more efficiently?
Few of the many advantages of using smart home devices in India are:
- It saves time and lets people focus on their other activities and have fun.
- It helps in conserving energy with thermostat-enabled devices and also save some bucks for you.
- The installation process is easy and the devices are affordable enough to purchase.
- You can control (turn on/off) all your devices through voice commands.
- It helps you set the temperature according to your convenience before you reach your home.
- It controls all your smart home devices using a single mobile application.
Are these smart home devices affordable?
Of course, it is. Home automation in India is not only about individual aspirations but it also encapsulates the emerging digital India. The prices of Smart home devices in India are affordable enough for everyone to use and it will only get cheaper as more competition enters the markets.
Is installing wireless technology mandatory to connect smart home devices?
There are many smart home products like smart switches that also work with the existing wiring setup of your home. Factors such as user-friendliness, availability and energy conserving products have led to a significant increase in the smart home automation market in India.
How will increased usage of smart home devices help in boosting the smart home automation market in India?
Mobile applications are the main source to operate smart home devices. Improved updates of mobile technology and its operating systems have fuelled the smart home automation market in India.
One look at the rate at which urban residents adopt new mobile phones and the associated mobile technologies will be enough to realise that the smart home industry in India is still in its initial stages of growth and that the future of this industry is going to be bright.
In conclusion the Smart Home Automation Market in India certainly looks very promising and set to completely revolutionize Indian homes.
About Vibe Smart Homes:
Vibe Smart Homes is an end-to-end solutions provider for home automation services. With the advent of ingenious technologies and an aim to provide smart homes at your comfort and convenience. Vibe Smart Homes Automation offers a whole range of home automation solutions in convergence with the Internet of Things (IoT) that allows seamless connectivity of devices via the internet with zero hassle.
Vibe Smart Homes Automation solutions are aesthetically and technologically advanced systems that let you control your devices at the touch of a button. With smart home automation products and services being the emerging trend, Vibe Smart Homes Automation services are designed and manufactured in India to conserve both energy and human efforts.
The products come with a plethora of benefits that are available even on shoestring budgets and features such as the retrofitting technology, which works easily with existing wiring setup. With customizable services and user-friendly experience, Vibe Smart Home Automation offers perfect automation choices with state-of-the-art interactive and super responsive mobile applications that focus on high performance and seamless connectivity.
Contact us for any query or more information.