Home Automation Market In India To Grow By USD 3.58 Billion From 2021 To 2026 | Increased Reliance On Wireless Technologies To Boost The Market Growth - Technavio

TechDogs-"Home Automation Market In India To Grow By USD 3.58 Billion From 2021 To 2026 | Increased Reliance On Wireless Technologies To Boost The Market Growth - Technavio"

NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The home automation market in India size is expected to grow by USD 3.58 billion during 2021-2026, progressing at a CAGR of 15.13% as per the latest Technavio market research report. India is going to have lucrative growth during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

Home Automation Market in India: Increased reliance on wireless technologies to drive growth

The market is driven by the increased reliance on wireless technologies. Wireless technologies are increasingly being adopted by consumers as they are easy to install and provide the convenience of operation through remote control. The installation of wireless devices also eliminates the need for sophisticated wiring, thereby saving time and labor costs. Such benefits are increasing the consumer preference for wireless devices. This is subsequently increasing the demand for devices such as high-speed routers for wireless connectivity of home automation systems. Thus, with the increased reliance on wireless technologies, the demand for home automation solutions is expected to increase during the forecast period.

Demand for comfort and foolproof security systems is an emerging market trend..

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Some of the key Home Automation Market In India Players:

The home automation market in India is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

ABB Ltd., ADT Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Hero Electronix Pvt. Ltd., Home Brain, Honeywell International Inc., IFIHomes, Johnson Controls International Plc, L and T Technology Services Ltd., Legrand, Riot Labz Pvt. Ltd., Schneider Electric SE, Tuya Inc., Vinay Electrical Solutions, and Wipro Ltd.

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Home Automation Market In India: Segmentation Analysis

This market research report segments the home automation market in India by Product (Security, Lighting, and Others) and Technology (Wireless and Wired).

The security segment will be significant during the forecast period. Generally, automated security systems help homeowners monitor, program, and control the security setup of their homes remotely or with an in-home dashboard. As such, vendors promote do-it-yourself (DIY) installations by offering fee-based monitoring services to smart homeowners and selling equipment such as cameras, smoke or fire detectors, control panels, and sensors that the users can easily install. Hence, such initiatives will boost segment growth during the forecast period.

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Home Automation Market In India Scope
Report Coverage	Details
Base year	2021
Historic period	2017-2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 15.13%
Market growth 2022-2026	USD 3.58 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	14.32
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., ADT Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Hero Electronix Pvt. Ltd., Home Brain, Honeywell International Inc., IFIHomes, Johnson Controls International Plc, L and T Technology Services Ltd., Legrand, Riot Labz Pvt. Ltd., Schneider Electric SE, Tuya Inc., Vinay Electrical Solutions, and Wipro Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Technology

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

First published on Fri, Aug 25, 2023

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