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The home automation market in India is projected to grow by USD 3.58 billion with a CAGR of 15.13% during the forecast period 2021 to 2026.
This home automation market in India research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the home automation market in India segmentation by product (security, lighting, and others) and technology (wireless and wired). The India home automation market report also offers information on several market vendors, including ABB Ltd., ADT Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Hero Electronix Pvt. Ltd., Home Brain, Honeywell International Inc., IFIHomes, Johnson Controls International Plc, L&T Technology Services Ltd., Legrand, Riot Labz Pvt. Ltd., Schneider Electric SE, Tuya Inc., Vinay Electrical Solutions, and Wipro Ltd. among others.
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The increased reliance on wireless technologies is notably driving the home automation market growth in India, although factors such as the high cost of installing home automation systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the home automation industry in India. The holistic analysis of the drivers will help in deducing the end goals and refining marketing strategies to gain a competitive edge.
Key Home Automation Market Driver in India
The increased reliance on wireless technologies is one of the key factors driving the Indian home automation market growth. Wireless technologies are being increasingly used due to the ease of installation and operation through remote control. The data generated from various operations in a building can be accessed quickly and aid end-users in monitoring and controlling different functions inside the building. Most vendors of home automation systems are developing their products to support wireless connectivity to save on installation costs and to keep abreast of the evolving technological demands of end-users. Therefore, with increased reliance on wireless technologies, the market will grow during the forecast period.
Key Home Automation Market Trend in India
Demand for comfort and foolproof security systems is one of the key Indian home automation market trends fueling the market growth. Rapid industrial growth and increased investments by end-users have led to an increase in the number of residential spaces, thereby increasing the demand for home automation systems. Security, access control, and comfort are other requirements in residential spaces. It is very important to keep track of the people entering these buildings to prevent trespass by unauthorized people. Thus, the demand for advanced HVAC systems and security devices such as closed-circuit televisions(CCTV) cameras has increased to enhance the comfort of people working in these buildings and reinforce their safety and security.
Key Home Automation Market Challenge in India
The high cost of installing home automation systems is one of the key factors challenging the Indian home automation market growth. Owing to this high-cost factor, it becomes difficult for manufacturers to convince consumers to upgrade their regular home appliances with the smart connected variety. Companies find it challenging to create affordable products for the mass consumer segment, especially in emerging economies, where consumers are price-sensitive. Most product offerings are targeted at the high-end consumer segment, leading to a small home automation consumer base. The technology used in home automation is complex and needs in-depth R&D activities, for which huge investments are required. These factors will challenge the market growth in the forecast period.
This home automation market in India analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the home automation market in India as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the home automation market in India during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the home automation market in India encompasses successful business strategies deployed by the key vendors. The home automation market in India is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and the information on production and sustainability along with this report provides a detailed analysis of several leading Companies.
Our report provides extensive information on the value chain analysis for the Indian home automation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The home automation market share growth in India by the security segment will be significant during the forecast period. Automated security systems help homeowners monitor, program, and control the security setup of their homes remotely or with an in-home dashboard. In view of this, vendors have been promoting do-it-yourself (DIY) installations by offering fee-based monitoring services to smart homeowners and selling equipment such as cameras, smoke or fire detectors, control panels, and sensors that the users can easily install. Such initiatives will boost segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the home automation market size in India and actionable market insights on the post-COVID-19 impact on each segment.
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Home Automation Market Scope in India |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.13% |
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Market growth 2022-2026 |
$3.58 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
14.32 |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., ADT Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Hero Electronix Pvt. Ltd., Home Brain, Honeywell International Inc., IFIHomes, Johnson Controls International Plc, L and T Technology Services Ltd., Legrand, Riot Labz Pvt. Ltd., Schneider Electric SE, Tuya Inc., Vinay Electrical Solutions, and Wipro Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Technology
7 Customer Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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