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India Home Automation Market Development, Ongoing Trends and Forecast At a CAGR of 29.8% 2026 | Players

05-13-2021 07:30 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

According to Allied Market Research, the India home automation market is estimated to reach $13.57 billion by 2027, growing at a CAGR of 29.8% from 2019 to 2026. The cost-effectiveness of home automation systems, rise in demand for energy-efficient solutions, and increase in demand for safety & security for homes are the drivers of the market.

The smart home concept is taking root faster than ever expected. The investment of major market players and new product launches has boosted the demand for home automation in India. The country is the largest market for the Internet of Things (IoT) already and in the future, India will become a major hub for the home automation industry. With the rise in awareness of value-based products and awareness about IoT and smart technology, the future is not afar when living-room lighting adjusts brightness as you walk into the room. Panasonic India to invest more in the industry

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Leading Players:
Elan home systems
Harman International
Home brain
Johnson Controls
Larsen & Toubro
Silvan Innovation

One of the major consumer electronics companies, Panasonic India has recently launched a new division of Spatial Solutions as a part of its strategic plans for smart home solutions. As per the company, this new division will combine the expertise in life solutions and consumer appliances to boost the adoption of smart home living solutions such as Panasonic’s AI and IoT-enabled Connected Living Platform. Panasonic’s Spatial Solutions is expected to focus on commercial, residential, and public infrastructure segments and provide the solution architecture to white label manufacturers.

Prior to this, Panasonic India has been expanding its IoT and AI-based services and platforms such as Miraie. The company has already launched a connected refrigerator, Wi-Fi fan, washing machine, and ROMA smart digital switches on the platform. These products are laying the foundation for the growth of home automation in India.

Future of home automation in India

For years, India has remained the underserved market for home automation products owing to the high price of products and lack of awareness. However, the new age of home automation and connected devices has begun due to the advent of energy-efficient products, ease of installation, affordability, and instant access.

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The growth of mobile technology, low-cost data packages, and availability of uninterrupted Wi-Fi services have boosted the growth of the home automation industry in India. The smartphone penetration in India is the prime reason for the growth of the home automation segment as the majority of the smart products can be controlled through a smartphone.

Apart from this, technology has become a vital part of the lifestyle. People while designing their homes account for the lifestyle aspect, launch of new technology, comfort, safety, and convenience. Both customers and companies invest time and money to integrate technology into their daily routine to make lives easier.

Today, customers demand smart, connected, and energy-efficient home appliances that add value to their lifestyle. In the future, this need to raise the standard of living will increase. Voice-controlled appliances such as Alexa and Google Home are already part of life. In the future, these devices will integrate machine learning, AI and operate seamlessly through IoT-enabled devices. To sum it all, customers demand the option to multitask, devices that can talk to each other, and learn as they interact with each other, making the future of home automation in India brighter than ever.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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