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Retrofit automation fuels rapid expansion of India’s residential smart home industry: Bonafide Research
The smart home market in India has experienced a significant transformation, primarily driven by the availability of affordable retrofit automation solutions. Over the past two years, several startups have entered the market, offering solutions at prices as low as INR 3,360. As the demand for comfort and automation grows, the residential segment is expected to increasingly adopt these solutions across metro cities and even tier-2 and tier-3 cities.
Until 2013, India's smart home market was nearly non-existent. However, it has expanded considerably over the last decade. The market is divided into three key segments: hospitality, commercial, and residential. Within these sectors, automation solutions include lighting, blinds and shades, servers, entertainment, security and access control, energy management, and more. So far, the highest adoption of automation has been in the hospitality sector, particularly in premium and five-star hotels, where providing a seamless and luxurious experience is a priority.
According to India Smart Home Market Outlook, 2027–28, a report published by Bonafide Research, India's smart home market grew at a CAGR of over 38% during the historical period, reaching a market size of more than INR 2,800 crore in 2021–22. Currently, lighting automation and control dominate the market and are expected to continue leading in revenue generation. Previously considered a costly luxury, smart home automation has become more accessible due to retrofit solutions. While the commercial segment was not initially a key market for automation, it has witnessed notable growth in recent years, with security and access control solutions expected to drive further adoption.
Despite the advancements, residential users have been hesitant to adopt smart home solutions due to high costs. Historically, home automation adoption has been limited to high-net-worth individuals who could afford full-scale automation for their residences. However, with the advent of retrofit solutions, the market is poised for broader expansion. Currently, the residential segment primarily focuses on lighting and entertainment automation.
The rise of Indian startups specializing in smart home solutions has played a crucial role in making automation more affordable. The cost of automating a single room has dropped to as low as INR 8,000, making it accessible even for households in smaller cities. Additionally, rising disposable incomes and the growing preference for comfort and luxury have contributed to increased consumer willingness to invest in automation. This favorable environment has encouraged more startups to enter the market, further fueling its growth.
Key players in India's smart home market include Control4 India Private Limited, Crestron Electronics India Limited, Lutron GL Sales & Service Private Limited, Legrand India Private Limited, Inoho Electronics Private Limited, Silvan Innovation Labs Private Limited, PERT Info-consulting Private Limited, RIOT Labz Private Limited, and Home Brain IOT Service Private Limited.
Until 2013, India's smart home market was nearly non-existent. However, it has expanded considerably over the last decade. The market is divided into three key segments: hospitality, commercial, and residential. Within these sectors, automation solutions include lighting, blinds and shades, servers, entertainment, security and access control, energy management, and more. So far, the highest adoption of automation has been in the hospitality sector, particularly in premium and five-star hotels, where providing a seamless and luxurious experience is a priority.
According to India Smart Home Market Outlook, 2027–28, a report published by Bonafide Research, India's smart home market grew at a CAGR of over 38% during the historical period, reaching a market size of more than INR 2,800 crore in 2021–22. Currently, lighting automation and control dominate the market and are expected to continue leading in revenue generation. Previously considered a costly luxury, smart home automation has become more accessible due to retrofit solutions. While the commercial segment was not initially a key market for automation, it has witnessed notable growth in recent years, with security and access control solutions expected to drive further adoption.
Despite the advancements, residential users have been hesitant to adopt smart home solutions due to high costs. Historically, home automation adoption has been limited to high-net-worth individuals who could afford full-scale automation for their residences. However, with the advent of retrofit solutions, the market is poised for broader expansion. Currently, the residential segment primarily focuses on lighting and entertainment automation.
The rise of Indian startups specializing in smart home solutions has played a crucial role in making automation more affordable. The cost of automating a single room has dropped to as low as INR 8,000, making it accessible even for households in smaller cities. Additionally, rising disposable incomes and the growing preference for comfort and luxury have contributed to increased consumer willingness to invest in automation. This favorable environment has encouraged more startups to enter the market, further fueling its growth.
Key players in India's smart home market include Control4 India Private Limited, Crestron Electronics India Limited, Lutron GL Sales & Service Private Limited, Legrand India Private Limited, Inoho Electronics Private Limited, Silvan Innovation Labs Private Limited, PERT Info-consulting Private Limited, RIOT Labz Private Limited, and Home Brain IOT Service Private Limited.
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