Home AutomationInternet of Things

Home Automation Market in India To Record 30 Percent Growth Year-On-Year

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Home Automation Market in India To Record 30 Percent Growth Year-On-Year

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Owning a home in a metro is almost everyone’s ultimate dream in the 21st century. And, with the real estate completely revamping its offerings in the last few years, more and more people now don’t want to settle for anything less than a smart home.

A smart home as the name suggests has smart features like good security, video door, motion sensors, gas leakage sensors and IP cameras. Further, they are more convenient and energy efficient than the regular homes.

Echoing this trend of the growing smart homes market is a survey carried out by Schneider Electric. According to the survey, the smart home market is expected to grow at a rate of 30 per cent year-on-year. This ensure that the market doubles its revenue every three years.

The survey further revealed various interesting facts. The first one being that the awareness around the whole smart homes concept was more in metros and upper-end segments as compared to those living in smaller towns. Further, according to the survey, the three things that made these smart homes a deal you can’t afford to miss were security, convenience and energy efficiency.

According to Shrinivas Chebbi, vice-president, Schneider Electric India, “Almost 75 per cent of respondents were aware of Smart Homes, which was almost universal among the upper-end segment. But awareness was low among the lower end, since these respondents hailed from smaller towns, with 11 per cent not aware even on being prompted. The quality of knowledge about Smart Homes across budget segments was quite good, especially in metros, but vague in non-metros.”

During the survey, those not familiar with the smart homes concept were made familiar with what the whole concept is all about which resulted in most of the respondents expressing major likenesses for the security features, video door, IP cameras, motion sensors and gas leakage sensors which are an integral part of the whole concept. Most of them even expressed keen interest in the UPS feature, as they realised that the constant drop in power problem of the metros could hamper all their gadgets.

With the economy finally doing some good for the people, the Smart home market is surely going to get bigger and better with each passing year.

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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