The Smart Home market in India has been witnessing tremendous growth in terms of value as well as volume. Home automation has been considered as a business of rich people few years back and it was all true as the cost of automation was not at all suitable to the pockets of large population in the country. However, even for the people who could have easily afforded the automation solutions, adoption ratio was negligible. The situation has turned around completely and over the last few years, a trend of automation is taking place in the country. With the increasing need of comfort and ease along with rising disposable incomes of people living in metro cities, the market for smart homes have been on the growing path. According to "India Smart Home Market Overview, 2022-28", the smart home market in India has grown significantly in the last few years. The smart home market which consists of mainly three segments – Commercial, Hospitality and Residential – has seen a higher adoption ratio of automation in the hospitality sector. The reason is obvious that premium hotels need to provide sophisticated luxuries to their customers. Though the share of commercial segment is very less, it has registered highest growth in the last few years. The residential market on other hand is moving in the upward direction with a standard pace. The other good thing that has happened to the market is the introduction of retrofit automation solutions. Previously, the major drawback for the residential segment was the high price of automation solutions which have now drastically come down with retrofit solutions being available at a price at as low as Rs. 3600. Moreover in the metro and tier-I cities, new housing schemes are being developed with home automation systems enabled as per the customer’s requirement. Both the hospitality as well as residential market for automation is likely to increase in the future. Control4, Crestron and Lutron GL are amongst the top manufacturers providing automation devices in India. The retrofit solutions are majorly being offered by the bunch of start-ups which have established in the last two years. Silvan Labs, Inoho and Pert are amongst the top automation startups in India. Residential smart home market is expected to grow robustly in the forecasted period, on a condition that awareness for the same should be brought amongst the citizens. Key Segments Residential Smart Home • New/Entire Home Automation • Retrofit Home Automation Hospitality Smart Home • Hotel Exterior & Lobby Market • Hotel Rooms Commercial Smart Home Key Categories • Lighting • Blinds • Hubs/Server • Entertainment (Audio/Video) • Security/Access • Energy Management • Others "India Smart Home Market Overview, 2022-28” discusses the following aspects of smart homes in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of smart home market in India: - India Smart Home Market Outlook - India Smart Home Market Size & Forecast - India Unorganized Smart Home Market Size & Forecast - India Organized Smart Home Market Size & Forecast - India Organized Smart Home Market Size & Forecast By Application - India Organized Smart Home Market Segmental Analysis: By City, By Segment, By Technology - India Residential Smart Home Market Size & Forecast - India Hospitality Smart Home Market Size & Forecast - India Commercial Smart Home Market Size & Forecast - Key Vendors in this market space This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of automation solution providers in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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