Our world today is saturated with all forms of technology, be it physical infrastructure or the software that influences it. One of the most rapidly growing sectors of technology is that of IoT devices and applications, as its seemingly futuristic capabilities in terms of home automation have amazed the world. India is a country making ambitious attempts at globalization, with the aim of stepping into stride with the developed nations of the world.
Over the past few years, India has made several technological advances towards realising the goals of an IoT-enabled urban ecosystem. That being said, India still has a lot of catching up to do. Read on to know more about the challenges in India’s path, as well as the slow-changing scenario that promises to sail the country into the future:
- What have we learnt?
When it comes to awareness, the scenario of Indian home automation can be described as improving slowly. More and more people in urban areas are becoming aware of, and interested in, IoT technology and its potential. The same cannot be said for the rural India, which accounts for 70% of the country’s population. Despite the spread of awareness and education regarding technology in some villages, the lack in most rural sectors thereof, is abysmal.
- How connected are you?
Internet has become a key component in most forms of technology today. The Internet penetration in urban areas of India has gone from just 10% in 2011, to 33% in 2017. The smartphone base in India had touched 300 million as of 2016.These are optimistic odds in terms of India’s potential for IoT development over subsequent years. However, we still have a long way to go, as developed countries like the US have reached Internet penetration of close to 88%.
- How much do you pay?
Most people involved with or who are interested in home automation devices already know that they can prove to be quite expensive. And for those of you who don’t; well, they are. There are however, some companies that manufacture relatively inexpensive IoT home appliances and services. The same can be said for India, with companies providing cost-effective and quality-driven products under the ‘Make in India’ banner. These companies usually offer Smart home appliances in the price range of Rs. 10,000 – Rs. 1,50,000 and above, depending on what you set up in your home.
- What can you buy?
The residential sector accounts for nearly 60% of the automation market share in India. There are four segments to this market namely lighting, security, audio visual and HVAC (heating, ventilation, air conditioning).
Lighting and security together account for 80-85% of the current market of Smart products. There aren’t really too many Indian manufacturers in the lighting segment, and so it is dominated by international names like Philips, Lutron, etc. The security sector, even though highly fragmented, also includes some Indian players. .
Audio-visual and HVAC account for 15-20% of the market. The application of this sector is mainly concentrated in commercial complexes, hotels, and other public complexes that are equipped with central heating and cooling. As far as the AV market is concerned for homeowners– it’s mainly restricted to the luxury products. There aren’t many companies that cater to the urban middle class, and most are focused on setting up bespoke solutions for farmhouses or second homes. However, the urban consumer now wants more than just a simple television, as more of them are using streaming video services and are thereby adopting newer ways of consuming content. And so, this requires technologically advanced entertainment devices that are Smart, connected, and compatible with the services they have subscribed to.
- Your next step?
Over the past 5-6 years, the growth of the home automation industry has been unprecedented. A few years ago, there were only 4 million Smart home devices installed globally. This changed radically in a relatively short time span, as there now exist around 165 million devices worldwide.
The home automation industry has also been on a steady rise in India since 2013. Growing at rate of 30% YOY (year on year), the home automation market is predicted to double its revenue every 3 years. In the current scenario, home automation in India is slated to cross 80 billion USD in value by the end of this year alone. In the home automation market, it is the residential sector that is making the most waves.
Put together, what are all these facts trying to say? The answer is pretty straightforward. Adopt IoT technology into your home and turn it into a Smart home. This can be done quickly by making use of single point devices that integrate with your existing home appliances/devices. Devices such as Philips Hue Smart lights, WeMo Smart WiFi plug, Smart switches and Nest Smart thermostat/video doorbell are good example of Smart home technology that add efficiency, comfort and security to your life.
The prospect of spending on home automation is understandably daunting, what with the sector being new and yet unproven in India. You should however consider it as an opportunity to be part of the early Smart home majority in the country, as the sector is all set to explode in India. Be ahead of the curve, give us a call, and let us help you shape your Smart home reality.