India Home Automation Market to reach $13.57 billion by 2027
According to Allied Market Research, the India home automation market is estimated to reach $13.57 billion by 2027, growing at a CAGR of 29.8% from 2019 to 2026. The cost-effectiveness of home automation systems, rise in demand for energy-efficient solutions, and increase in demand for safety & security for homes are the drivers of the market. The smart home concept is taking root faster than ever expected. The investment of major market players and new product launches has boosted the demand for home automation in India. The country is the largest market for the Internet of Things (IoT) already and in the future, India will become a major hub for the home automation industry. With the rise in awareness of value-based products and awareness about IoT and smart technology, the future is not afar when living-room lighting adjusts brightness as you walk into the room. Panasonic India to invest more in the industry. For years, India has remained the underserved market for home automation products owing to the high price of products and lack of awareness. However, the new age of home automation and connected devices has begun due to the advent of energy-efficient products, ease of installation, affordability, and instant access. The growth of mobile technology, low-cost data packages, and availability of uninterrupted Wi-Fi services have boosted the growth of the home automation industry in India. The smartphone penetration in India is the prime reason for the growth of the home automation segment as the majority of the smart products can be controlled through a smartphone. Today, customers demand smart, connected, and energy-efficient home appliances that add value to their lifestyle. In the future, this need to raise the standard of living will increase. Voice-controlled appliances such as Alexa and Google Home are already part of life. In the future, these devices will integrate machine learning, AI and operate seamlessly through IoT-enabled devices. To sum it all, customers demand the option to multitask, devices that can talk to each other, and learn as they interact with each other, making the future of home automation in India brighter than ever.
Tags : ALLIED Home automation growth India India Home Automation Market mobile technology