DUBLIN--(BUSINESS WIRE)--The "India Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Indian smart home market is expected to surpass US$ 9 Billion by 2025.
Smart homes are the residences that are equipped with information and computing technology devices that anticipates and responds to the requirement of the owner in an effective and efficient manner. Smart Home systems in India have witnessed an unprecedented demand in the recent years, due to increased concerns for safe and secure living environment, especially concerning safety functionalities and discrete monitoring for elderly people, especially in urban areas.
The rising need for consumer convenience, safety and security, energy consumption is the major driver of the smart home market. Moreover, factors such as improved lifestyle, increase in disposable income of people, and surge in awareness about smart automated systems have boosted the adoption of smart home devices, thus driving the India smart home market growth.
In India, the share of population over the age of 60 is projected to increase from 8 percent to nearly 20 percent in 2050. This demographic trend is expected to continue and will significantly influence social and economic structures. Also, the explosive population growth and dynamic shift in urban sprawl, coupled with the economic growth of megacities in the emerging economies, would pose a variety of opportunities for companies operating in the smart home market segment. According to The World Bank, in 2018, over 34% of the Indian population lived in urban area. By 2030, roughly 41% of the population is expected to live in urban areas. This creates an enormous opportunity for the smart home market players.
The India smart home market is driven by factors such as significantly growing IoT market, cost reduction measures enabled by home automation systems, manufacturers expanding their product portfolios, and increasing importance of home monitoring from remote locations. With the increasing demand of smart home devices, security and privacy breach is also increasing. The issues pertaining to privacy and security breach are restraining the growth of the smart home market.
India Smart Home Market - By Application Areas
- Smart Appliances captured maximum share of the India smart home market.
- Control and Connectivity is the second largest application segment of the India smart home market, being followed by Security market segment.
- Energy Management application segment captured least share of the Smart Home market.
- The average revenue per Smart Home in the Comfort and Lighting segment currently amounts to around US$ 41.
Key Topics Covered:
1. Executive Summary
2. India Smart Home Market Analysis to 2025
2.1 India Smart Home Market and Forecast
2.2 India Smart Home Number and Forecast
2.3 India Smart Home - Household Penetration and Forecast
3. India Smart Home Market Share Analysis to 2025
3.1 India Smart Home Market Share - By Application Areas
3.2 India Smart Home Active Households Share - By Application Areas
4. India Smart Home Market, Number of Active Households & Households Penetration - By Application Areas
4.1 India Smart Home - Control and Connectivity Market & Number of Active Households Analysis to 2025
4.2 India Smart Home - Comfort and Lighting Market & Number of Active Households Analysis to 2025
4.3 India Smart Home - Home Entertainment Market & Number of Active Households Analysis to 2025
4.4 India Smart Home - Smart Appliances Market & Number of Active Households Analysis to 2025
4.5 India Smart Home - Energy Management Market & Number of Active Households Analysis to 2025
4.6 India Smart Home - Security Market & Number of Active Households Analysis to 2025
5. India Smart Home Market - Government Initiatives
6. Major Trends in Indian Smart Home Market
7. India Smart Home - Key Company Profiles
7.1 Panasonic Corporation
7.2 Sony Corporation
7.3 Samsung Electronics Co., Ltd.
7.4 LG Electronics Inc.
8. India Smart Home Market - Driving Factors
8.1 IoT Drives Smart Home Market
8.2 Cost Savings Due to The Adoption of Energy Conservation Systems
8.3 Urbanization, Increasing Awareness & Concern for Monitoring Elderly People
8.4 Development of Connected Innovative Products
9. India Smart Home Market - Challenges
9.1 Security and Privacy Breach Concern
9.2 Smart Home Solutions Too Expensive
9.3 Cyber Security Concerns
For more information about this report visit https://www.researchandmarkets.com/r/cdvf2m