India Smart Home Market (2023-2029) | Size, Share, Growth, Revenue, Analysis, COVID-19 IMPACT, Value, Forecast, Companies, Industry & Trends

Market Forecast By Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen, Smart Furniture), By Sales Channel (Direct, Indirect), By Software & Services (Behavioral, Proactive) And Competitive Landscape

Product Code: ETC4435045 Publication Date: Jul 2023 Updated Date: Nov 2023 Product Type: Report
Publisher: 6Wresearch No. of Pages: 85 No. of Figures: 45 No. of Tables: 25

India Smart Home Market Highlights

Report Name India Smart Home Market 
 Base Year 2022
 Historical Period 2019-2022
 Forecast Period 2023-2029
 Growth Rate 10.36%
 Report Coverage Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
 Segment Coverage By Product, By Sales Channel, By Software & Services
 Customization Scope 100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com 
 Pricing and Purchase Options Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in India Smart Home Market Report

India Smart Home Market report thoroughly covers the market by product, sales channel, software & services. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Smart Home Market Synopsis

The smart home market in India attained promising growth and is likely to grow significantly in the coming years on the back of a number of factors such as high-speed internet connectivity and rising penetration of smartphones. Shifts towards nuclear families and growing urbanization are also stimulating market growth.

According to 6Wresearch, the India Smart Home Market size is anticipated to grow at a tremendous growth rate of 10.36% during the forecast period 2023-2029. This market in the country has become one of the most prominent markets and is experiencing major growth. The high-speed internet connectivity and rising penetration of smartphones have empowered consumers in the country to control as well as monitor their homes remotely. These factors have led to an expansion in interest in smart home solutions since people seek greater security, energy efficiency and convenience.  Growth in urbanization and shift toward nuclear families have also resulted in small living spaces. Smart home technologies provide solutions for managing space effectively, enhancing the overall quality of life, and optimizing energy consumption. The Smart Cities Mission by the Indian government, aims at created sustainable urban centers and it has inspired the smart home technology adoption in the country. This initiative focuses on the integration of smart solutions for enhanced governance, citizen well-being, and infrastructure, thus creating conducive environment in the country for home innovations. In addition, the rising awareness of energy conservation ad environment sustainability has driven the adoption of devices for smart homes such as smart thermostats, energy-efficient lighting, solar energy solutions.

COVIID-19 Impact on India Smart Home Industry

pandemic had a notable impact on India smart home market which is a key part of the Asia Pacific smart home market. The industry was already on a success trajectory prior to the pandemic on the back of the rising disposable incomes, increasing urbanization, and the rising the growing tech-savvy population, the coronavirus pandemic inspired certain trends as well as shifted priorities of consumers. There was a rise in the time people were spending time at their homes due to the lockdown as well as remote work arrangements which led to the heightened awareness of significance of home security, comfort, and convenience.

Smart Home Market in India: Leading Companies

The Indian Smart Home market was witnessing growth, driven by the rising consumer interest in home automation as well as connected devices. Many key players are contributing to this burgeoning industry. Some major companies included Schneider Electric, Honeywell, Syska, Philips (under Signify), Google (with its Nest range of products), Xiaomi (through its Mi Home ecosystem), Amazon (through its Echo devices and Alexa platform), and Wipro.

India Smart Home Market: Government Initiatives

One of the key initiatives taken by the government that is contributing to the India smart home market growth is the "Digital India" campaign. Under this, their focus is on promoting the use of technology, including smart home solutions in order to enhance the quality of life of citizens and improve public service efficiency. The Bureau of Energy Efficiency (BEE), a government agency, has presented energy efficiency labelling programs for appliances. The Smart City Mission is also a tremendous government program which aims to develop 100 smart cities in the country and these smart cities incorporate many smart technologies.

Market by Product

According to Dhaval, Research Manager, 6Wresearch, the Security & Access Control segment is anticipated to experience key growth in the future. Security and access control systems, including security cameras, alarm systems, smart door locks are the vital components of smart homes. With a growing focus on safety and security, coupled with the rising adoption of smart home technology, the demand for such products is likely to rise. appealing to consumers.

Market by Sales Channel

The indirect sales channel is projected to rise in the future and it typically include retailers, third-party distributors, and e-commerce platforms. This channel offers a wide range of products for smart home and provide people with easy access to a variety of alternatives. In addition, a number of consumers prefer to buy smart home devices via trusted retailers.

Market by Software & Services

The proactive software and services segment is likely to attain key growth in the future. Proactive smart home software and services include advanced features like artificial intelligence (AI), machine learning (ML) algorithms, and predictive analytics.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2019 to 2022.
  • Base Year: 2022
  • Forecast Data until 2029.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • India Smart Home Market Outlook
  • Market Size of India Smart Home Market, 2022
  • Forecast of India Smart Home Market, 2029
  • Historical Data and Forecast of India Smart Home Revenues & Volume for the Period 2019 - 2029
  • India Smart Home Market Trend Evolution
  • India Smart Home Market Drivers and Challenges
  • India Smart Home Price Trends
  • India Smart Home Porter's Five Forces
  • India Smart Home Industry Life Cycle
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Product for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Lighting Control for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Security & Access Control for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By HVAC Control for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Smart Speaker for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Smart Kitchen for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Smart Furniture for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Sales Channel for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Direct for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Indirect for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Software & Services for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Behavioral for the Period 2019 - 2029
  • Historical Data and Forecast of India Smart Home Market Revenues & Volume By Proactive for the Period 2019 - 2029
  • India Smart Home Import Export Trade Statistics
  • Market Opportunity Assessment By Product
  • Market Opportunity Assessment By Sales Channel
  • Market Opportunity Assessment By Software & Services
  • India Smart Home Top Companies Market Share
  • India Smart Home Competitive Benchmarking By Technical and Operational Parameters
  • India Smart Home Company Profiles
  • India Smart Home Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

  • Lighting Control
  • Security & Access Control
  • HVAC Control
  • Smart Speaker
  • Smart Kitchen
  • Smart Furniture

By Sales Channel

  • Direct
  • Indirect

By Software & Services

  • Behavioural
  • Proactive
Frequently Asked Questions About the Market Study (FAQs):
Some of the key drivers contributing to the market growth are high-speed internet connectivity, rising penetration of smartphones, Shift towards nuclear families and growing urbanization.
A smart home is a residence equipped with smart devices and systems that can be controlled and automated remotely through a smartphone, tablet, or voice commands. These devices can include smart lights, thermostats, security cameras, door locks, and appliances.
In India, some of the most popular smart home devices are smart thermostats, smart lighting systems, and voice-controlled assistants.
Segments that are covered in this market report are by product, sales channel, and software & services.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 India Smart Home Market Overview

3.1 India Country Macro Economic Indicators

3.2 India Smart Home Market Revenues & Volume, 2022 & 2029F

3.3 India Smart Home Market - Industry Life Cycle

3.4 India Smart Home Market - Porter's Five Forces

3.5 India Smart Home Market Revenues & Volume Share, By Product , 2022 & 2029F

3.6 India Smart Home Market Revenues & Volume Share, By Sales Channel, 2022 & 2029F

3.7 India Smart Home Market Revenues & Volume Share, By Software & Services, 2022 & 2029F

4 India Smart Home Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 India Smart Home Market Trends

6 India Smart Home Market, By Types

6.1 India Smart Home Market, By Product

6.1.1 Overview and Analysis

6.1.2 India Smart Home Market Revenues & Volume, By Product , 2019 - 2029F

6.1.3 India Smart Home Market Revenues & Volume, By Lighting Control, 2019 - 2029F

6.1.4 India Smart Home Market Revenues & Volume, By Security & Access Control, 2019 - 2029F

6.1.5 India Smart Home Market Revenues & Volume, By HVAC Control, 2019 - 2029F

6.1.6 India Smart Home Market Revenues & Volume, By Smart Speaker, 2019 - 2029F

6.1.7 India Smart Home Market Revenues & Volume, By Smart Kitchen, 2019 - 2029F

6.1.8 India Smart Home Market Revenues & Volume, By Smart Furniture, 2019 - 2029F

6.2 India Smart Home Market, By Sales Channel

6.2.1 Overview and Analysis

6.2.2 India Smart Home Market Revenues & Volume, By Direct, 2019 - 2029F

6.2.3 India Smart Home Market Revenues & Volume, By Indirect, 2019 - 2029F

6.3 India Smart Home Market, By Software & Services

6.3.1 Overview and Analysis

6.3.2 India Smart Home Market Revenues & Volume, By Behavioral, 2019 - 2029F

6.3.3 India Smart Home Market Revenues & Volume, By Proactive, 2019 - 2029F

7 India Smart Home Market Import-Export Trade Statistics

7.1 India Smart Home Market Export to Major Countries

7.2 India Smart Home Market Imports from Major Countries

8 India Smart Home Market Key Performance Indicators

9 India Smart Home Market - Opportunity Assessment

9.1 India Smart Home Market Opportunity Assessment, By Product , 2022 & 2029F

9.2 India Smart Home Market Opportunity Assessment, By Sales Channel, 2022 & 2029F

9.3 India Smart Home Market Opportunity Assessment, By Software & Services, 2022 & 2029F

10 India Smart Home Market - Competitive Landscape

10.1 India Smart Home Market Revenue Share, By Companies, 2022

10.2 India Smart Home Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

Pricing
  • Single User License
    $ 1,995
  • Department License
    $ 2,400
  • Site License
    $ 3,120
  • Global License
    $ 3,795
6Wresearch Support

Any Query

Call: +91-11-4302-4305
Email us: sales@6wresearch.com
Any Query? Click Here

Related Reports

Industry Events and Analyst Meet

Our Clients

Airtel
Canon
Contec
HoneyWell
Kriloskar
Pwc Logo
Samsung
Tata Teleservices

Whitepaper

Read All