NEW YORK, Oct. 2, 2022 /PRNewswire/ — The “Home Automation Market in India by Product and Geography – Forecast and Geography 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
Technavio has announced its latest market research report titled Home Automation Market in India 2022-2026
The potential growth difference for the home automation market in India between 2021 and 2026 is USD 3.58 billion. To estimate the size of the market, Technavio has tracked the recent trends and developments in the information technology industry. Some of the factors considered in estimating the market size include server and storage device shipments, mobile device shipments, revenue generated by vendors operating in India, internet and mobile penetration rates, and others. Download PDF Report Sample
Key Market Dynamics:
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Market Driver
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Market Challenges
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 the 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.
In addition, the growing use of IoT will further drive the growth of the market. However, the high cost of installing home automation systems will challenge market growth.
Company Profiles
Some of the companies covered in this report are 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.
Competitive Analysis
The home automation market in India is fragmented. The market comprises several established and small players who are making significant investments in home automation technologies. This is increasing the competition among the vendors in the market. Some vendors are not focusing too much on connectivity and smart features for the mainstream product lines. This is because these features might cause consumers to focus less on the core features of an appliance, thus lowering the entry barrier to the business and attracting new entrants from the communication devices industry. However, all players are focusing on differentiating their product offerings through a clear and unique value proposition.
The report includes the competitive analysis, which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Request Sample Report Here
Market Segmentation
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By product, the market is classified into segments such as security, lighting, and others. The market growth in the security segment will be significant over the forecast period
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By technology, the market is classified into wireless and wired segments. The market will observe high demand for wireless home automation technologies in India during the forecast period.
Related Reports:
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Home Automation Market In India Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.13% |
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Market growth 2022-2026 |
USD 3.58 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
14.32 |
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Regional analysis |
India |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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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 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Technology
7 Customer Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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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Website: www.technavio.com/
Home Automation Market in India 2022-2026
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