Smart Home - India
India- The projected revenue in the Smart Home market in India is expected to reach US$6.5bn in 2024.
- This market is expected to show an annual growth rate (CAGR 2024-2028) of 9.16%, resulting in a projected market volume of US$9.2bn by 2028.
- In India's Smart Home market, the number of active households is expected to reach [users_currentlayer_yearend] by 2028.
- Household penetration is projected to increase from 10.7% in 2024 to 22.0% by 2028.
- The average revenue per installed Smart Home market in India is expected to be US$179.70.
- A global comparison reveals that United States generates the highest revenue in the Smart Home market, amounting to US$38.8bn in 2024.
- India is experiencing a surge in the adoption of smart home technology, driven by the growing middle class and increasing urbanization.
The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a private household.
The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services.
Devices whose primary function is not the automation or remote control of household equipment, e.g. smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.
In-Scope
- Digitally connected and controlled devices within a house that can be remote controlled
- Sensors, actuators and cloud services that support automation in any way
- Control hubs to connect sensors and actuators with remote controls and to each other
- B2C hardware and software sales as well as subscription fees
Out-Of-Scope
- Smart TVs
- B2B/C2C sales of any kind (e.g. to hotels or office buildings)
