India Smart Home Market Outlook 2023- Bharat Book BureauPosted by Bharat Book on October 17th, 2018 Bharat Book Bureau Provides the Trending Market Research Report on “Smart Home Market in India (2018–2023)” under Consumer Goods Category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports. A smart home is a home with better, faster and enhanced operating abilities and performance. In a smart home, the electronic devices such as fridge, television, air conditioning [heating, ventilation and air conditioning (HVAC)], lighting, and camera systems are usually controlled remotely by the smartphone. Home automation is the linking of several appliances along with monitoring and controlling devices used in a home through an intelligent network over a medium such as coaxial cable, electrical power wiring, infrared, radio frequency, or spread spectrum technology, coordinated by a computer. Globally, the smart home market is estimated to reach a value of INR 4.2 Tn by 2023 growing at a compound annual growth rate (CAGR) of ~14.77% from 2018. In India, the Smart Home Market is in its nascent stage and is expected to increase at an astounding growth rate in the coming years. Currently, the penetration level of smart homes is higher in Indian metro cities such as Bangalore, Delhi, Mumbai and Pune, and accounts for majority of the smart home market. Smart lighting, smart speakers, smart thermostats, smart home hub and smart surveillance are some of the major smart home offerings in the country. Under the Make in India program, the Government of India is taking measures such as reduction in customs duty on telecommunication products to boost the electronics manufacturing sector, which in turn is expected to drive growth in the Indian smart home market Market segmentation On the basis of end users the Indian home automation market can be segmented into residential segment, commercial segment and hospitality segment. Within the home automation market, residential segment accounts for more than half of the market. In the commercial segment, security and access systems, and efficient building management system are the major driving factors. The segment is dominated by three major companies, namely Samsung, Bosch and Honeywell. Request a free sample copy of Smart Home Market Report @ https://www.bharatbook.com/MarketReports/Sample/Reports/1249050 Key growth factors
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