India Home Automation Market Growth with Worldwide Industry Analysis to 2026 | Hits At a CAGR of 29.8%

The India home automation market size was valued at $1,790.9 million in 2018, and is expected to reach $13,574.1 million by 2026, growing at a CAGR of 29.8% during the forecast period 2019-2026. Home automation systems in India have witnessed an unprecedented demand in the recent years, due to increased concerns about safety & security, especially in urban areas.

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 home automation systems, , thus driving the India home automation market growth. However, the home automation market in Indian cities and rural regions is in its nascent stage, and is expected to witness significant growth in the future. Pune and Mumbai are anticipated to provide lucrative opportunities for the market players, owing to improvement in access to wireless technologies in these cities.

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The security & safety segment dominated the market in India in 2018 owing to considerable adoption of smart technologies such as smart bulb, smart camera, and smart refrigerator as compared to the other sectors. Increase in government initiatives, such as Digital India, for the development of smart cities has fueled the adoption of home automation systems in India.

The HVAC segment accounted for 10.1% share in the India home automation market in 2018, and is expected to grow at a CAGR of 34.4% during the forecast period. In terms of end-user, the residential sector is expected to garner the highest market share in the coming years. Moreover, expansion of urban areas in India is expected to provide lucrative growth opportunities to small manufacturers in country.

Residential sector is the most productive segment in the India home automation market, owing to increase in inclination toward smart home concept and expansion of urban areas in India. Rise in internet coverage area and competition among various telecom companies for cheap internet services are expected to boost the demand for wireless home automation systems. In addition, various domestic competitors are expanding their business by investing in the hospitality sector to offer smart hospitality solutions for customers, which is anticipated to fuel the demand for the home automation market.

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Top Players:
The key market players profiled in the report include Fueblabs, Larsen & Toubro, Schneider, Johnson Controls, Harman International, Home Brain, PERT, Silvan Innovation, Oakter, and Elan Home Systems. Many companies have focused on new product launches to strengthen their presence in the market. Moreover, these companies expand their business by marketing and merging small businesses to sustain the intense competition.

Key Findings of the India Home Automation Market:
• The report provides an extensive analysis of the current and emerging India home automation market trends and dynamics.
• Based on product type, the security and safety segment dominated the India home automation market, in terms of revenue in 2018 and is projected to grow at a CAGR 28.4% during the forecast period.
• Based on end-user, the residential segment is projected to grow at a CAGR of 32.4% during the forecast period.
• By technology, the wireless segment is projected to register the highest growth rate in the coming years.

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