Published on : Mar 09, 2017
Albany, New York, March 9, 2017: Driven by the constant technological advancements to create smart homes, the concept of home automation has greatly increased in popularity over the past several years globally. With a prime focus to the Indian Market, a recent research study titled “India Home Automation Market and Forecast” has been represented and added to the vast archive of Market Research Hub (MRH). According to the study findings, in India, with the boom in real estate sector, many new home buyers are opting to add automated elements to their properties. Also, by the end of 2022, India Home Automation Market is projected to cross the figure of INR 30,000 Crore.
With an extensive forecast period of 2013 to 2022, this market insight provides a precise outlook of the home automation market in India, along with its future potential in coming years. To provide the exact results, analysts have studied the market from eight viewpoints which include: Market analysis by customer, by-products and city; market share in Internet of Things (IoT) market, company product profiling as well as start-ups product profiling.
Indians are usually very conscious of energy costs and today, modern home buyers are ready to spend on comfort, luxury and security systems with automated controller devices which regulate utility services. Home automation, the next level of automation, is seen in India as a comfort technology. This method has especially been driven by the increase in the number of working couples with dual incomes in metro cities. Accordingly, Smart homes have become a key step on the evolutionary ladder for residential spaces and their primary aim is to make living more comfortable, convenient, secure, entertaining and workable.
In another section of the report, market is analyzed on the basis of following product type-
On the basis of user types, it covers Residential, Hospitality and Commercial sectors. At present residential customers have the maximum market share, whereas, in the product category, Security Market is the clear winner in Indian home Automation Market. By city, Mumbai, Delhi-NCR, Ahmadabad, Pune and Bangalore have a mutual market share of more than 50 percent in the total home automation market.
Moving further the report also examines that, home Automation is generating big prospect not only for Indian automation companies but also for foreign companies due to its popular features such as video door monitoring, gas leakage detection, GPS navigation, gaming consoles etc. Also, the emergence of IoT in India creates major growth drivers for the coming years.
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Currently, the leading companies operating in the home automation market are as follows:
- Larsen & Toubro
- Crestron Electronics
- Johnson Controls
- AMX LLC
- Schneider Electric
Some of the startup companies are also profiled, such as Home Brain, Silvan Innovation Labs, Pert and Oakter.
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