Hyderabad: The world is slowly moving towards a sci-fi movie scenario with driver-less cars, robotics and Internet of Things (IoT) slowly but surely touching every part of our lives. When the world witnessed its first smartphone, nobody had predicted the spread of it and had dubbed it as the thing of the future but now it is the reality. Similarly our homes are also witnessing the advent of IoT with many companies betting big on smart homes.
Simply put, smart homes are the place wherein all the devices in the home interact with each other and provide a wholesome experience for the owner. Imagine a situation where you can control the TV watching of your kids by switching it off by sitting in your home. Or where you can get notified as and when a breach happens in your house and you can disarm the house.
All this seems unreal, but if the recent developments in the home automation are anything to go by then this could be reality very soon.
According to research firm RedSeer Consulting, the home automation market in India is currently pegged at Rs 8,800 crore. And the key growth drivers for this are increasing consumer awareness and financial ability, product innovations (like smart phone apps), buildersâ€™ requirement for market differentiation and an increase in the preference for energy efficient systems.
Not only unknown players like Blaze Automation but also telecom major Bharti Airtel is dabbling with this concept. Recent reports point out that Airtel is looking at getting into home automation and smart home segment. Meanwhile, Blaze Automation launched its full home automation services in India at a price point of Rs 20,000 upwards.
â€œEven as the government is looking for Smart Cities, we believe that without home being smart we cannot make whole city smart. Thus we have built a smart hub that interacts with a lot of devices like security, switches and entertainment,â€ said Sridhar Ponugupati, CEO, Blaze Automation.
The RedSeer Consulting report also points out that the residential segment accounts for nearly 60 per cent of Indiaâ€™s home automation industry (out of which individual homes and villas account for 75-80 per cent of market and builders account for 20 per cent of market). This segment is currently growing at a CAGR of 35-40 per cent. Meanwhile, the commercial space contributes to 30 per cent of the home automation market and is largely driven by security and access systems.
However, with this huge market potential experts still feel that the space still in the nascent stage and India has a long way to go before this becomes a full-fledged reality.