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India Smart Home Market Is Anticipated To Grow At A CAGR Of More Than 35% By 2026 | Zigbee Technology Has More Than 65% Market Share In Home Automation.

01-19-2022 11:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Bonafide Research

India Smart Home Market Is Anticipated To Grow At A CAGR Of More

A smart home refers to a convenient home arrangement where appliances can be automatically controlled remotely from anyplace with an internet connection using a smart phone or other networked device. In Indian households, people are making swing towards smart equipments as they look for more gear that care of routine tasks like operating lights, blinds, fans, heaters, ACs, and various others appliances. Home automation technology is mainly segregated into two types wiring system and wireless system.

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With recent technological advancements in the world, field of home automation has seen quite a surge in its market. According to the report title, “India Smart Home Market Outlook, 2026”, smart home market in India is anticipated to grow at CAGR of more than 35% in forecast periods from 2021-2026. The technology which brought a revolution in the field of smart home automation is Internet of Things (IOT).The smart home market in India is segregated into three segments i.e. residential, hospitality and commercial. Residential sector is leading the market with more than 60% market share. Hospitality sector is leading behind the residential sector with more than 20% market share. Commercial is lowest penetrated sector in smart home market in India. By application wise market is segregated into three major parts i.e. home automation, security and energy managements. Home automation is consisting of lighting, blinds, hub/server and entertainment. Lighting is leading the home automation market with more than 55% of market share. The security segment is consisting of surveillance appliances and energy management segment is consisting of Thermostats.

The main aim of home automation systems is saving energy or power, as it is well known that a large amount of electricity is being wasted every day just due to human negligence which can be curbed just by developing the system which monitors the area and automatically switches off the devices when there is no one in the room also coordinate of temperature sensors gives an advantage of controlled output from both light and fan according to the temperature of the room. Now considering another factor that is safety, due to the ever increasing old people and children’s population there is a need for the homes to be smarter one so that it can provide safer environment for them. By operating technology type home automation market is segregated into four parts i.e. Zigbee, BLE, Zwave, Wi-Fi technology. Zigbee technology is prominent technology in the market and penetration of this technology is also highest then the other technologies. Zigbee technology has more than 65% market share in home automation.

Smart homes once hailed as the domain to rich are now slowly and steadily becoming a necessity for the common man in urban areas. The security and automatic control features seem to have attracted many households in many regions and cities of India. Tier-1 sector is highest penetrated sector in India home automation market. The penetration of home automation in Mumbai city is higher than the other major metro cities. Mumbai is leading the market with more than 25% of market share and Bangalore is on second position with the market share of more than 20% in market. Other metro cities, tier-2 and tier-3 cities are contributing the market with more than 50% market share in smart home automation market in India.

Considered in this report
• Geography: India
• Base year: 2020-21
• Estimated year: 2021-22
• Forecast year: 2026-27

Aspects covered in this report
• India Smart Home market with its value and forecast
• Segment-wise India Smart Home market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Types of Segment in Smart Home in the report
• Residential
• Hospitality
• Commercial

Table of Contents
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. India Smart Home Market Outlook
4.1. Market Size By Value
4.1.1. Market Share By Segment
5. India Organized Smart Home Market Outlook
5.1. Market Size By Value
5.2. Market Share By
5.2.1. By City
5.2.2. By Segment
5.2.3. By Application
5.2.4. By Technology

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Bonafide Research is one of the fastest growing market research and consulting company. We are expert in syndicated research reports & custom research solutions across the domains. We have been closely working with fortune 500 clients by helping them in tracking the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day.

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