Research On Global Markets
Syndicated Market Research Report
A smart home is used to describe a house that has internet connected appliances to enable the remote monitoring and management of appliances and systems such as heating, cooling, lighting, TV’s, computers, entertainment audio and video systems, security and camera systems among others. Home automation technology provides homeowners security comfort and energy efficiency by allowing them to control smart appliances using their smartphones or other networking devices from anywhere at any time.
According to a research conducted by a leading market research company, the smart home market is expected to reach a value of USD 4.2 Bn and expand at a compound annual growth rate (CAGR) of 14.77 during the 2018-2023 period. Factors such as Growing awareness, rising disposable income, change in lifestyle patterns and need for advanced security solution in the region have led to the increased adoption of smart home solutions in India. In India, the smart home market is still in its nascent phase, but promises to showcase astounding growth in the coming years. Tier 1 cities such as Bangalore, Delhi, Mumbai and Pune, which accounts for the majority of the smart home market in India. Government initiatives such as Make In India is working towards reducing customs duty on telecommunication devices to boost the manufacturing sector, which will in turn drive growth of the Indian smart home market. The Indian smart home market is classified on the basis of end users. The residential, commercial and hospitality segments make up the Indian home automation market. The residential segment accounts for more than half the market. Security and access systems and efficient building drive the commercial segment. Request for Sample of this Report@ https://www.researchonglobalmarkets.com/smart-home-market-in-india-2018-2023.html
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