Home Automation Market in India will grow due to Rise in electricity prices, Proficient energy usage & Innovation in Technology
07 Sep, 2017
According to Renub Research report, India Home Automation Market is projected to cross the INR 30,000 Crore by 2022. Home automation is the use of intelligent terminals, which is automation system to control home appliances and equipment. The Boost in alertness for efficient energy usage, go up in electricity prices, and innovation in technology is anticipated to propel the home automation market growth.
Though, lack of awareness about home automation products and elevated initial investments in home automation is anticipated to slow down the home automation market enlargement. Cumulative in the adoption of automated services are likely to provide worthwhile opportunities for the home automation market in India.
Home Automation Market Share: Overview
India is transforming big opportunity not only for Indian automation industries but also for overseas industries. In India, Home automation is categorized into two segments, on the basis of product and on the basis of Residential customers.
On the basis of Product, Security Market leads in Indian home Automation Market, while the Residential customer has uppermost share. Almost 50 percent of the market share was jointly held by these five cities i.e. Mumbai, Delhi-NCR, Bangalore, Pune and Ahmadabad in the total home automation market.
Home Automation Market: Overview
Applications studied in the report comprise of Lighting, Safety & Security, Heating, Ventilation, and Air Conditioning (HVAC), Entertainment, and Others. Home automation market is categorized into two segments i.e. by types and by technology. By Type segment, the home automation market is categorized into the main stream, managed services, luxury and do it yourself (DIY) and by technology segment, home automation market is categorized into wired and wireless technology.
Factors that Impact India Home Automation Market
Home automation market in India comprise the development of innovative & energy proficient automated systems, growth in IoT market, increase in the importance of home monitoring from remote locations, increase in consumer awareness linked to availability of smart home devices for instance automated security & lighting systems and stringent government regulations. Some of the factors that impact India home automation were as follows-
Rise in Electricity Prices
The expansion in electricity prices in India has enlarged the operating budget for home owners. In the Home automation market most important end users are the hospitality industries and residential buildings. The hike in prices of coal considerably advances the accounts for generating electricity which in turn leads to rise in electricity cost. Home automation helps user in regulating their usage, thus reducing their electricity expenses. Additionally the home automation reduces the energy spending in lighting, security, and HVAC.
Innovation in Technology
In India Innovation in technologies and enhancement in connectivity solutions has increased the acceptance of home automation. With the introduction of a range of wireless technologies such as Bluetooth and ZigBee etc, installation of automated control systems has been much easier. Additionally, improvement of these automation systems is anticipated to increase their acceptance across the country.
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Government Rules & Regulations
Severe rules and regulations are imposed by government to efficiently manage and utilize electricity spending. Different types of rules and regulations were imposed by the government an authority comprises in public and private buildings. These rules and regulations are projected to boost the rise in acceptance of smart automated controls systems.
Awareness amongst Consumers
Awareness and effectiveness of the home automated controls in the premises of the home & building owners. Automated HVAC controls, intelligent lighting controls and security systems give proficient utilization of home controls with reduced spending of electricity.
Payback Policy
Soaring installation accounts for home automation systems hike in payback period. Reduction in prices such as sensors, controlled devices, and interface devices, during the projected period is likely to lessen the payback time, thus increases to a higher acceptance in the coming years.
Key Players in Home Automation in India
The Key players who play a very pivotal role in home automation in India as well as improved security level through innovation in technologies were Larsen & Toubro, Schneider Electric, Johnson Control, AMX LLC, Home Brain, Crestron Electronics, Pert, Oakter and Silvan Innovation Labs.
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