India Smart Home Market Overview, 2028

India Smart Home Market Overview, 2028

The smart home market in India has witnessed significant growth, with the increasing penetration of smartphones and the availability of high-speed internet. Various companies, both domestic and international, have entered the market to offer a wide range of smart devices and systems. Smart home technology in India includes a wide array of devices such as smart lighting, smart locks, smart thermostats, smart speakers, and more. Indian consumers are increasingly adopting these devices to control their homes remotely through smartphone apps or voice assistants like Amazon Alexa and Google Assistant. Security is a major concern in India, and smart home security solutions have gained popularity. These include smart cameras, video doorbells, and motion sensors. Residents can monitor their homes in real-time and receive alerts in case of suspicious activities. Indian consumers often seek smart home solutions that can be customized to their specific needs and preferences. This includes automating lights and appliances, setting schedules, and creating personalized scenes to suit different occasions and moods. While high-end smart home solutions are available, many Indian consumers prefer affordable options. Companies are responding to this demand by offering budget-friendly smart devices without compromising on functionality. Indian consumers have access to various smart home ecosystems, with companies like Xiaomi, Amazon, Google, and Philips offering a wide range of compatible devices. These ecosystems make it easier for users to integrate and control multiple devices from a single app. Some Indian cities are implementing smart city projects, and this has a positive impact on smart home adoption. Residents are encouraged to embrace smart technologies for their homes as part of these larger initiatives. The ability to control and monitor smart devices remotely has become a significant convenience for Indian homeowners. Whether it's adjusting the thermostat, checking the status of security cameras, or turning off lights, these capabilities enhance everyday living. The Indian government has been emphasizing the importance of energy efficiency and smart technologies in homes. Initiatives such as the UJALA program, which promotes LED lighting, have indirectly contributed to the adoption of smart lighting solutions.

According to the research report ""India Smart Home Market Overview, 2028,"" published by Bonafide Research, the India Smart Home market is anticipated to grow at more than 16% CAGR from 2023 to 2028. The Indian smart home market is experiencing robust growth. Factors such as increasing disposable income, urbanization, and a tech-savvy population are contributing to the expanding market. Smart home device manufacturers are increasingly providing support for Indian languages, recognizing the linguistic diversity of the country. This enables users to interact with smart devices in their preferred languages. Indian startups are actively contributing to the smart home market by designing innovative products tailored to local needs. These startups often focus on affordability and functionality to cater to a diverse consumer base. Indian consumers are integrating smart devices with their existing home appliances like air conditioners, geysers, and fans, enhancing their control and energy efficiency. DIY installations are on the rise as user-friendly apps and setup guides make it easier for consumers to set up smart devices themselves. Many leading consumer electronics brands in India have ventured into the smart home market. This includes established companies that produce products like televisions, refrigerators, and air purifiers. Integration with these products allows for a seamless experience and encourages adoption among consumers who already trust these brands. The growth of smart home theatres and entertainment systems has been remarkable. The pandemic accelerated this trend, with more people investing in high-quality audio and visual setups for home entertainment. Smart TVs, soundbars, and streaming devices are central to this trend. Smart kitchen appliances such as smart refrigerators, ovens, and coffee makers are being adopted by Indian consumers. These devices offer convenience, energy efficiency, and enhanced control over cooking and food preservation. Insurance companies in India are beginning to offer discounts to homeowners who install smart security and monitoring systems. This provides additional incentives for homeowners to invest in smart home technology.

India has been experiencing significant urbanization and changes in lifestyle. As more people live in smaller apartments and lead busy lives, the demand for smart kitchen appliances that save time and make cooking more convenient has increased. Smart kitchen appliances offer features like remote control, voice commands, and smartphone connectivity. These features allow users to monitor and control their appliances from anywhere, enhancing convenience and flexibility. Many consumers are becoming more health-conscious and seeking appliances that can help them cook nutritious meals. Smart kitchen appliances with features like precise temperature control and recipe recommendations can support healthier cooking. Smart kitchen appliances often come with features that streamline cooking processes. For example, they can reduce cooking times, automate stirring or mixing, and simplify complex cooking techniques. This time-saving aspect is highly appealing to busy individuals and families. Some smart kitchen appliances can help users create shopping lists based on the recipes they plan to prepare, ensuring they have all the necessary ingredients on hand. Wired protocols, such as Ethernet and powerline communication (PLC), often provide a more stable and reliable connection compared to wireless protocols. In a smart home, where reliability is crucial, especially for critical applications like security systems or smart lighting, wired connections can offer consistent performance. Wired connections offer consistent and often higher bandwidth compared to wireless connections. This is crucial for devices and applications that require a high data transfer rate, such as 4K video streaming or large file transfers within the home network.

As awareness of smart home technology increases in India, more homeowners are looking to retrofit their existing homes with smart devices and systems. They want to enjoy the benefits of modern technology without having to buy a new property. Retrofitting a home with smart devices is often more cost-effective than building a new smart home from the ground up. Homeowners can select specific devices or systems to upgrade, making it a scalable and budget-friendly option. Retrofit solutions are highly adaptable and can be customized to fit the specific needs and preferences of homeowners. Whether it's upgrading lighting, security, heating, or cooling, retrofit options can be tailored to address individual requirements. Homeowners may be hesitant to undergo major construction or renovation projects that disrupt their daily lives. Retrofitting, which often involves non-invasive installations, is less disruptive, making it more appealing. Furthermore, The Indirect segment often includes retailers, both online and brick-and-mortar stores that have a significant presence in the Indian market. These retailers offer a wide range of smart home products and serve as trusted points of purchase for consumers. Retailers and e-commerce platforms play a crucial role in educating consumers about smart home products. They often have dedicated sections or promotions for these products, which can boost consumer awareness and interest. Indirect channels typically offer a wide variety of smart home products from different manufacturers, providing consumers with a broad selection to choose from. This variety can meet the diverse needs and preferences of Indian consumers. Proactive smart home applications are closely tied to artificial intelligence (AI) and machine learning. These technologies enable devices and systems to learn from user behavior and make proactive decisions. AI algorithms can analyze data from various sensors and devices to anticipate user needs. Proactive applications can monitor health metrics and provide insights to promote a healthier lifestyle. For instance, they can remind users to take medications, stay hydrated, or exercise.

Considered in this report:
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

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

By Product
• Security and Access Control
• Lighting Control
• Entertainment System
• HVAC Control
• Smart Speakers
• Smart Home Appliances
• Smart Kitchen Appliances
• Smart Home Healthcare Systems
• Smart Furniture
• Other Controls (Smart Meter, Smart Plug, Smart Smoke detector, Smart hub)

By Protocols
• Wireless Protocols
• Wired Protocols
• Hybrid Protocols

By Application
• New Construction
• Retrofit

By Sales Channel
• Direct
• Indirect

By Software & Services
• Behavioural
• Proactive

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.