Market Trends of India Smart Home Industry
Comfort and Lighting to Witness Significant Growth
- Smart lighting provides a variety of benefits to smart homes. The evolution of smart lighting has been significant over the years. The introduction of LED technology was a breakthrough that transformed the lighting industry. LEDs are more energy-efficient, durable, and have a longer lifespan than conventional light bulbs. A critical trend in smart homes is the rise of intelligent lighting and home automation, as consumers are looking for lighting options that can be remotely controlled through smartphones, voice assistants, or smart home systems. These technologies also provide more installation flexibility and enhance convenience for users.
- Smart lighting can enhance home security by deterring intruders and providing visibility in and around the property. Features like motion-activated lights, automated schedules, and remote monitoring offer peace and help prevent accidents or potential hazards. Moreover, comfort and lighting solutions are often integrated with smart home systems, such as security, entertainment, and environmental concerns. This integration enables seamless interactions between devices, creating a cohesive and interconnected ecosystem that enhances the overall smart home experience.
- Lighting is expected to have a crucial impact on the advancement of smart cities in the future, as it influences various aspects of people's lives, including homes, workplaces, transportation, and public spaces. During the fiscal year 2022, approximately INR 53 billion (USD 0.63billion) was spent on the Smart City Mission in India. Estimates suggested that this figure rose to over INR 68 billion (USD 0.81 billion) in fiscal year 2023. The primary goal of the mission was to revamp urban infrastructure in order to improve the overall quality of life for residents by implementing technology, data-driven solutions, and efficient urban planning.
- Smart lighting is remotely controlling lights through a wireless connection and a smartphone application. Users can schedule the lights to turn on and off at specific times or in response to certain triggers. Smart lighting systems enable energy-efficient operation by optimizing usage based on occupancy, time of delay, and ambient conditions. Features like automated scheduling, motion sensors, and adaptive brightness help reduce energy consumption, leading to cost savings and environmental benefits. Moreover, smart lighting solutions offer personalized control over brightness, color temperature, and ambiance.
- For instance, in February 2024, Signify, a lighting provider, introduced the Philips Smart Light Hub (SLH) in India. The Philips Smart Light Hub offers a diverse selection of over 300 SKUs, catering to all lighting requirements. Signify operates over 90 Philips Smart Light Hubs in North India and 17 in New Delhi. Positioned strategically, the Philips Smart Light Hub is poised to be the preferred choice for homeowners needing lighting solutions.
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Wi-Fi Technology to Hold Significant Market Share
- Smart homes are no longer something that only exists in the future; they are becoming a reality for homeowners in India. Due to the rising accessibility of technology and the evolution of design to allow for smooth integration, the revolution of smart homes is quickly progressing. Smart home solutions usually have wifi capabilities and can be controlled using smartphone applications, tablets, or smart speakers. Smart home devices aim to enhance safety and comfort in daily life by integrating control panels with wifi connections.
- Reliance Jio Infocomm Limited announced in October 2023 that it had partnered with Plume, a network services and consumer experience company, to offer smart home and small business services to its customers throughout India. The partnership aims to provide services to around 200 million properties in India using Plume's versatile cloud platform. Through this collaboration, Jio will introduce HomePass and WorkPass consumer services utilizing Plume's AI-driven and cloud-based platform, which includes features such as adaptive Wi-Fi for smart homes, optimization of connected devices and applications, protection against cyber threats for advanced parental controls, connected devices, Wi-Fi motion sensing, and more.
- There has been growth in the number of new homeowners in India in the past few years, which has led to an increase in the popularity of home automation services, particularly in the security sector. The seamless integration of smart devices with Wi-Fi into existing systems, along with their automation capabilities, has encouraged end-users to opt for enhanced security solutions for their homes.
- Wifi 7 will create new opportunities for smart home technology by enhancing user experiences. The demand for multi-gigabit internet is surpassing current wifi capabilities at a rapid pace. Wifi 7, also called IEEE 802.11be, will bring about a new transformation. The new standard, EHT for Extremely High Throughput, will enable actual multi-gigabit wifi with quicker speeds, reduced interference, and improved performance for a wide range of high-bandwidth online tasks.
