Smart Home Devices Market in India (2018-2023)

Updated On: 04 September, 2019 | No of Pages: 116 | Format: PDF | SKU: 2018240
  • Report Description
  • Table of Content
  • Request Sample
  • Customize Report
  • Speak to Analyst
  • Enquire before purchase

Smart home devices provide homeowners security, comfort, convenience, and allow efficient use of energy through proper controlling of smart devices, often through a smart home app on their smartphones or other network devices. Some of the major segments of the smart home market are smart home remote controls, HVAC systems, smart thermostats, security and access control systems, and purifiers. Technological disruptions, coupled with better ergonomics, rising security concerns, and increasing health consciousness are factors propelling the growth of the smart home devices market in India. The smart home remote control market in India was valued at INR 15,000 Cr in 2018, and is expected to expand at a compound annual growth rate (CAGR) of 17.5% during the 2018-2023 period.

Smart Home Devices Market

Product segment insights:

Adoption of the latest technologies, increasing number of nuclear families, and lower prices of smart home products are driving the segment for smart home remote controls. However, interoperability among different technologies is becoming the main restraining factor in this space. To meet the price-performance expectations of Indians, service providers are using normal/standard thermostats and incorporating a third-party module to make them smart and cost-effective. A major concern in this segment is the formulation and implementation of strict data security laws. Proper regulations are required in the country to aid the growth of the smart home devices market.
In the coming years, adoption of speech recognition technologies in phones, TVs, home audio, and even car dashboards will increase rapidly. The prices of smart home devices are also expected to decline, in order to cater to a more extensive customer base. AI will have a huge role to play in this space. Companies like Google, Samsung, Amazon, and Schneider Electric are some of the leading players in this segment.
The smart thermostat segment is at a nascent stage, and is expected to reach INR 52 Cr by 2023, from INR 40 Cr in 2018. Some of the major companies operating in this market are Siemens, Emerson, Johnson Controls, Honeywell, and Schneider Electric. Increasing Internet penetration and rising use of mobile phones, and integration of smart thermostats with Internet of Things (IoT) and Wi-Fi are resulting in the increased adoption of M2M architecture. However, the lack of infrastructure, such as research and development facilities, and uninterrupted power supply, along with the availability of other alternatives such as smart controllers, which help in controlling temperature and other functionalities, are restraining market growth.
Increasing crime rates are a serious concern when it comes to having children and elderly members at home. This need for safety is giving a boost to the security and access control system segment. Also, the growing popularity of ‘do-it-yourself’ (DIY) home automation technology, particularly among millennials, is also fueling market growth. Competition among security and access control system providers is intense, owing to the entry of Chinese brands that sell at lower prices. Another major setback in the adoption of products is the growing threat of data security breaches, leading to consumers’ concerns regarding privacy. For products like smart gas leak detectors, connected intrusion alarm systems, and smart smoke detectors, false alarms are activated when sensors fail to identify the real stimulus. This may lead to panic, which is why alarm systems cannot always be trusted, making it a huge challenge in this space. The residential security and access control systems segment was valued at INR 1,500 Cr in 2018, and is estimated to expand at a CAGR of 20% during the forecast period. Some of the major companies operating in this space are Honeywell, Panasonic, Bosch, Hikvision, Alpha, Tyco, Godrej, and CP Plus, among others.
In the purifiers segment, water purifiers hold the largest market share (around INR 3,150 Cr), and is anticipated to expand at a CAGR of 7.5% during the forecast period. Furthermore, RO water purifiers have the largest share (more than 80%) among the different types of water purifiers. The penetration of water purifiers in India is as low as 4%. However, growing awareness regarding harmful bacteria and pathogens in household water is spurring market growth. The government has undertaken initiatives to educate Indians about the need to purify water, which is bringing about changes in rural India. The major challenge in this space is the disadvantage of RO water purifiers, which includes removal of natural, essential minerals like sodium, iron, calcium, and magnesium. Wastage of water is another concern. No purifier can give more than 50% of pure water, and most users are not aware of how this waste can be minimized.
The residential smart air purifiers segment was valued at INR 70 Cr in 2018, and is expected to expand at a CAGR of 17% during the forecast period. Poor air quality, which has several health hazards, is inducing people to use air purifiers. 80% of the market is in North India, out of which 60% belongs to the Delhi NCR region. The key players in the Indian smart air purifiers market (residential) are MI, Philips, Sharp, and Blueair.

Companies covered:

- Alpha
- Amazon
- Blue Star
- Blueair
- Bosch
- CP Plus
- Daikin
- Dormakaba
- Emerson
- Godrej
- Google
- Hikvision
- Honeywell
- Johnson Controls
- Kent
- Leviton
- LG
- MI
- Panasonic
- Philips
- Samsung
- Schneider Electric
- Secura
- Sharp
- Siemens
- Texecom
- Tyco
- Yale

Customizations available:

With the given market data, Research On Global Markets offers customizations according to specific needs. Write to us at support@researchonglobalmarkets.com, or connect with us here.

Estimated Delivery Time: Immediate Dispatch

Chapter 1. Heating, Ventilation, and Air Conditioning (HVAC) and Smart Home Remote Controls Market in India
1.1.Summary

Chapter 2: HVAC Market in India
2.1. HVAC Market Overview
2.2. Market Drivers and Challenges
2.3. Market Trends
2.4. Future Impacts

Chapter 3. Smart Thermostat Market in India
3.1. Smart Thermostat Market Overview
3.2. Market Drivers and Challenges
3.3. Market Trends
3.4. Product Offerings of Major Players in the Smart Thermostats Market in India

Chapter 4. Smart Home Remote Control Market in India
4.1. Smart Home Remote Control Market Overview
4.2. Market Drivers and Challenges
4.3. Future Outlook
4.4. Product Offerings of Major Players in the Smart Home Remote Control Market

Chapter 5. Security and Access Control Market in India
5.1. Security and Access Control Market – Summary
5.2. Security and Access Control Market Overview
5.3. Market Drivers and Challenges

Chapter 6. Smart Indoor Video Cameras Market in India
6.1. Smart Indoor Video Cameras Market Overview
6.2. Market Drivers and Challenges
6.3. Product Offerings of Major Players in the Smart Indoor Video Cameras Market in India

Chapter 7. Smart Door Locks Market in India
7.1. Smart Door Locks Market Overview
7.2. Market Drivers and Challenges
7.3. Market Trends
7.4. Product Offerings of Major Players in the Smart Door Lock Market in India

Chapter 8. Smart Video Doorbells Market in India
8.1. Smart Video Doorbells Market Overview
8.2. Market Drivers and Challenges
8.3. Product Offerings of Major Players in the Smart Video Doorbells Market in India

Chapter 9. Connected Intrusion Alarm System Market in India
9.1. Connected Intrusion Alarm System Market Overview
9.2. Market Drivers and Challenges
9.3. Product Offerings of Major Players in the Connected Intrusion Alarm System Market in India

Chapter 10. Smart Gas Leak Detectors Market in India
10.1. Smart Gas Leak Detectors Market Overview and Drivers and Challenges
10.2. Product Offerings of Major Players in the Smart Gas Leak Detectors Market in India

Chapter 11. Smart Smoke Detectors Market in India
11.1. Smart Smoke Detectors Market Overview
11.2. Market Drivers and Challenges
11.3. Product Offerings of Major Players in the Smart Smoke Detectors Market in India

Chapter 12. Sensors Market in India
12.1. Sensors Market Overview
12.2. Market Drivers and Challenges
12.3. Product Offerings of Major Players in the Sensors Market in India

Chapter 13. Digital Indoor Video Camera Market in India
13.1. Digital Indoor Video Camera Market Overview
13.2. Market Drivers and Challenges
13.3. Product Offerings of Major Players in the Digital Indoor Video Camera Market in India

Chapter 14. Digital Door Locks Market in India
14.1. Digital Door Locks Market Overview
14.2. Market Drivers and Challenges
14.3. Product Offerings of Major Players in the Digital Door Locks Market in India

Chapter 15. Digital Video Doorbells Market in India
15.1. Digital Video Doorbells Market Overview
15.2. Market Drivers and Challenges
15.3. Product Offerings of Major Players in the Digital Video Doorbells Market in India

Chapter 16. Purifiers and Water Softener Market in India
16.1. Purifiers and Water Softener Market – Summary

Chapter 17. Air Purifiers Market in India
17.1. Air Purifiers Market Overview
17.2. Market Drivers and Challenges
17.3. Product Offerings of Major Players in the Air Purifiers Market in India

Chapter 18. Smart Air Purifiers Market in India
18.1. Smart Air Purifiers Market Overview
18.2. Market Drivers and Challenges
18.3. Product Offerings of Major Players in the Smart Air Purifiers Market in India

Chapter 19. Purifiers and Water Softener Market in India
19.1. Water Purifiers Market Overview
19.2. Market Drivers and Challenges
19.3. Market Trends
19.4. Product Offerings of Major Players in the Water Purifiers Market in India

Chapter 20. Water Softeners Market in India
20.1. Water Softeners Market Overview
20.2. Market Drivers and Challenges
20.3. Product Offerings of Major Players in the Water Softeners Market in India
20.4. Strategic Intent

Chapter 21. Conclusion
21.1. Strategic Intent

I agree to receiving communication from Research on Global Markets and Netscribes.

For customization of market research reports, fill out the form below, or write to us at support@researchonglobalmarkets.com.

I agree to receiving communication from Research on Global Markets and Netscribes.
I agree to receiving communication from Research on Global Markets and Netscribes.
I agree to receiving communication from Research on Global Markets and Netscribes.
$2,950.00
For Research Assistance
+1-888-831-3350 (US Toll Free)


Loading...
Ready for Christmas?
Get a magic promo code on your email!