Of late, the Indian smarthome market has been growing steadily and slowly. The regular changes in the market as well as updated products are catching the attention of Indian customers. Despite all odds, the market does not show any sign of slowing down even though the concept is just catching up.
The predictions of the Year on Year growth of the Indian Smart home market in the next few years
If you look at the market today, it has grown significantly from the initial stages. Experts predict that in the next few years; the Indian smart home market will have a year on year growth of close to 30%. Furthermore, the predictions are that every 3 years the market revenue will double. With all these numbers in place it looks like the Indian market for smart homes will boom in the next few years.
The evolution of the Indian Smarthome market
In one of the recent interview to understand what is in store with smart home market in India, Schneider Electric’s Mr. Thanik B had quite a lot to say. The first thing was that this market has just started to create its base in India. Factors like price affordability, innovative technology, innovative designs and the various features and services; are the main reasons why the Indian consumers are willing to invest.
Initially, the concept was used for it security features. Now, with the advancements of products like the smoke alarm system, gas leakage detector, lighting system are becoming the favorites today. The energy efficiency facilities and features offered by the products have become the main focal points that have caught the attention of Indian consumer.
The entire concept of Smarthomes provides comfort, convenience, better security, and it has helped Indian consumers to save money on its own. With the growing concerns of health and security in India, smart homes provide an ideal solution to tackle this control.
A look at what the future has for Indian Consumers
Presently a copper-based network is used for wired broadband services. This will soon be taken over with fiber connections so that the service providers can offer various packages with better delivery and content. Even the latest trains in construction clearly indicate the move towards the smart home market.
Builders and construction companies are offering a variety of packages, which allow the Indian customer to upgrade into a Smarthome. Companies in India will not only compete with each other for the services and products. As connected and smart things people, the convenience factor will also include solution which are more secured, movable, and comfortable.
The driving force for the Indian Smart home market
The key to the growth of the Indian smart home market is purely dependant on the awareness factor. While people living in the Indian metro cities do stay updated with the latest changes and advancements in technology, the challenge comes in with non-metro cities.
Builders will have to ensure that they do their part of spreading the awareness of the concept of smart homes in such cities. A consumer living in a non-metro city or even in a rural area may not even understand what this concept is all about. By spreading this awareness, the market will see a significant growth.
The need for proper implementation and planning is essential when any consumer wants to convert into a smarthome. This is critical since there is a need of a structured infrastructure with proper wiring ; so that consumers gets the maximum functionality and flexibility of the devices to enjoy the promise of high performance services. In India the cost of conversion to a smart home can vary from Rs. 5 Lakh to Rs.50 Lakh based on the type of services and customization the consumers wants.
The final note
The smart home market does have a better future in India. Presently the younger generation is more aware and well connected than the elders. They are also aware of the various changes happening across the technology world. The awareness of smart homes and its concepts has a better chance to grow. In the next few years, the consumer base for the market has a positive sign of growing, this in turn will also open the doors for the growth and prosperity of the smart home market in India.