In the Indian home automation industry, residential sectors are the most competitive. Because of an increased inclination towards the smart home concept and due to the expansion of urban areas in India. The market for wireless home automation systems expected due to an increase in the internet coverage area. Also, competition between many telecom companies for cheap Internet services. Specific domestic rivals grow by investing in the hospitality sector to deliver customer intelligent hospitality solutions. In India, the security and safety segment posted the highest turnover in 2018.
The Indian home market automation size is expected to hit $13.574 million by 2026. And has risen by 29.8% since 2019. The study states that the Indian market size for home automation estimated to around $1,790.9 million in 2018, see. Currently, domestic automation systems in India have seen unprecedented demand for protection, particularly in urban environments. Moreover, the adoption of home automation systems, driving India’s domestic market growth. And it fuelled by factors such as better lifestyles, and increased people’s disposable incomes, and increased awareness about smart automated systems.
In Indian cities and rural areas, the home automation market is in its formative years and will expand significantly in the future. Pune and Mumbai are expected to give market players lucrative opportunities due to increased wireless technology connectivity in these cities. Due to the major use of intelligent and new technologies such as smart bulbs, smart cameras, and intelligent fridges, the health & safety segment has dominated India’s market in 2018 in comparison to the other sectors.
The adoption of home automation systems in India determined by the following rising government initiatives such as Digital India for the creation of smart cities. In 2018, the HVAC segment accounted for 10.1% of the Indian market in the domestic industry and will expand in the forecast period by a CAGR of 34.4%. The residential sector will gain the largest market share in the coming years to the end-user. Besides, the expansion of urban areas in India expected to give small manufacturers in India a lucrative opportunity for development.
Smart startups like Oakter, Inoho, IFI Homes, and Home Brain have increased in India due to initiatives like Make in India and Digital India. Several players in the Indian Smart Home industry are developing an advanced technologies and tools. In May 2018, in the Indian market, Schneider Electric launched the Easergy P3. This medium voltage relay incorporates real-time analytical technology and specialized Internet Of Things-based solutions. Again, Apple Inc. built Home Kit to monitor smart appliances, including door openers, lights, and security cameras. The home automation market of India is about product-based, technical, and end user-specific.
The home automation market in India divided by products. Such as lighting, safety & protection, HVAC, entertainment, and others. Besides, the lights section consists of relays, dimmers, switches, and other components. Security and surveillance split into keys, locks, surveillance, and other devices. Owing to growth in urbanization, India’s share in home automation was the highest in 2018 insecurity and health. In the HVAC section thermostats, switches, control valves, and others are further classified. Leisure is divided into home entertainment, audio, sound, and multimedia controls.