The smart home industry is in a constant state of change. The concept of smart homes
is growing steadily in urban homes across India. The rise of the DINKs (Double Income No Kids), DISKs (Double Income Single Kid) and very high-income households across the country are expected to make home automation a standard feature in the future. Due to the technological leaps and affordability, home automation is a reality now and economically viable across the country.
According to Schneider Electric
, the smart home market is growing at a rate of 30 percent YOY. If it continues to rise as per the estimation, the market will double in revenue every 3 years, experiencing massive growth.
Pune is currently the biggest market for home automation
and accounts for 15 percent of the overall market. The growing market share of smart homes in India can be attributed to the growth of IT hubs and HNWI’s (high net worth individuals). HNWIs are concentrated in NCR, Punjab and Gujarat while IT Hubs are primarily located in Pune, Hyderabad, Bangalore, Noida and Coimbatore.