Press Release / Industry / The Indian home automation market is on its way to bag revenues worth INR 8750 crore till 2018: Bonafide Research

The Indian home automation market is on its way to bag revenues worth INR 8750 crore till 2018: Bonafide Research

Strong foothold of the organized segment in India, growing number of people in the upper middle class segment, price reduction in the automation, flexibility of adding features according to the customers need and government supporting Intelligent Building Management System are some of the driving factor for the home automation market in India in the coming years.
According to recently published report of Bonafide Research “India Home Automation Market Outlook, 2021” the home automation market in India is expected to grow with a CAGR of about 23.63% over a period of six years from 2014 to 2021. Home automation is a new concept in India with only high-end segment of the people showing interest to. End user wise, residential, commercial and hospitality are the segments using home automation in India. Residential segment dominates the market in terms of value. Commercial institutes and offices are the all time end users as access controls are a must in such places.
Lighting, security, audio/ video and HVAC are the applicational segments in the Indian market with security having a domination share. Technology is differentiated into networking and the communicating technology. Networking technology deals with the type of network provided like wired, wireless, power line and computing network. Wireless dominates the market whereas in communicating technology Zigbee holds the major portion of the market.
“Home automation integrates all the devices in the house and gives its access to a single control pad which allows energy efficiency and ease to the people residing. Energy management is one of the most important factor which deals with home automation. Automating your house leads with 60- 65% of energy savings of the house. Home automation comes out to be of a great help to the aged people, handicapped people and the families with small children. However, Home automation is a luxury statement and is at a very emerging stage in India.”, Said Dhwipal Shah, Director with Bonafide Research.
Thefts, burglary, information insecurity are some of the major factors affecting the people living in India. Security comes out to be an appropriate solution for these problems. Having an eye on your apartment even when you are on a foreign tour is one of the most advantageous factor that will act as catalyst to the growth of the home automation market in India.
The increasing use of wireless connections and phones, tablets will increase the penetration of home automation in India. People are gradually becoming aware of the price reduction in the case of home automation. The trend of people clinging to the western culture is also one of the factors for the growth of the market. Newer technology will reduce the price further in India. With builders now interested in giving customers the option for automated houses, the market is expected to reach INR 8750 till 2021.