Market Share of India Smart Home Industry
The Indian smart home market is very competitive in nature. The market is highly concentrated due to the presence of various small and large players. All the major players account for a significant share of the market and are focusing on expanding the consumer base globally. Some of the significant players in the market are Schneider Electric SE, Emerson Electric Corporation, ABB Ltd, Honewell International Inc., and Siemens AG. Companies are increasing their market share by forming multiple collaborations, partnerships, and acquisitions, as well as investing in introducing new products to earn a competitive edge during the forecast period.
- October 2023: Messe Frankfurt Trade Fairs India announced a partnership with World Media and Expo LLP to host the Smart Home Expo jointly. The Smart Home Expo is recognized for being the leading platform that presents a comprehensive selection of high-quality home automation products and solutions utilizing the latest technologies for households. Additionally, in recent years, these exhibitions focusing on lighting have expanded to incorporate various essential industry components, including lighting controls, sensors, Wi-Fi-operated systems, and a wide range of smart lighting systems.
- August 2023: Samsung Electronics and LG Electronics collaborated to create a Smart Home to strengthen the advancement of smart living. The collaboration includes combining the smart home platforms of both companies in the cloud to enhance connectivity between devices. Samsung Electronics and LG Electronics collaborated to connect their appliances seamlessly. This significant measure marks the first commercial implementation of the HCA (Home Connectivity Alliance) standard 1.0.
India Smart Home Market Leaders
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Schneider Electric SE
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Emerson Electric Co
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ABB Ltd
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Honeywell International Inc.
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Siemens AG
*Disclaimer: Major Players sorted in no particular order
