India Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025
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.
India Smart Home Market - By Application Areas
Smart Appliances captured maximum share of the India smart home market.
Control and Connectivity is the second largest application segment of the India smart home market, being followed by Security market segment.
Energy Management application segment captured least share of the Smart Home market.
The average revenue per Smart Home in the Comfort and Lighting segment currently amounts to around US$ 41.
India Smart Home Active Households - By Application Areas
Control and Connectivity segment captured highest share of the India Smart Home active households in 2018, being followed by Home Entertainment and Comfort and Lighting segment.
In India, the household penetration for Security applications is expected to hit around 8.3% by 2025.
Energy Management application captured least share of the Smart Home active households in 2018.
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:
1. India Smart Home Market, Volume, Household Penetration & Forecast (2017 - 2025)
2. India Smart Home Market Share Analysis - By Application Areas (2017 - 2025)
3. India Smart Home Active Households Share - By Application Areas (2017 - 2025)
4. India Smart Home Market, Number of Active Households & Households Penetration - By Application Areas (2017 - 2025)
5. India Smart Home Government Initiatives
6. Major Trends in Indian Smart Home Market
7. India Smart Home Market - Key Company Profiles
8. India Smart Home Market - Growth Drivers and Challenges
India Smart Home Market - Application Areas
1. Control and Connectivity (Home Automation)
2. Comfort and Lighting (Home Automation)
3. Home Entertainment
4. Smart Appliances
5. Energy Management
6. Security Application
India Smart Home Market - Key Company Profiles
1. Panasonic Corporation
2. Sony Corporation
3. Samsung Electronics Co., Ltd.
4. LG Electronics Inc.
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.
Primary Research Methodologies:
Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies:
Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.