Airtel To Enter Home Automation Segment With IoT
Indian telecom major Bharti Airtel is set to enter home automation and smart home segment soon. The new segment will be driven by Internet of Things (IoT) and machine-to-machine solutions which enables users to control house-hold utility such as heating, air conditioning, music, lighting and security systems through smartphones.
According to research firm RedSeer Consulting, the home automation market in India is expected to reach Rs. 8800 crores by 2017. The key growth drivers for this demand are increasing consumer awareness and financial ability, product innovations (like smart phone apps), builders’ requirement for market differentiation and an increase in the preference for energy efficient systems. However, the market is still in its growth phase with a significant gap for more innovative and connected systems. Some of the key constraints include high product costs and moderate levels of satisfaction among the customers.
The residential segment accounts for nearly 60% of India’s home automation industry (out of which individual homes and villas account for 75-80% of market and builders account for 20% of market). This segment has the highest growth and is currently growing at a CAGR of 35-40%.
The Commercial spaces contribute to 30% of the home automation market. This segment is largely driven by security and access systems. Large companies like Samsung, Bosch and Honeywell dominate this segment in India. The hospitality industry also uses home automation and accounts for 10% of the market. Security and lighting systems are popular in this sector due to the growing need for differentiation
Last week Cxotoday reported that electronics major LG is looking for partners among telecom operators in India to bring up its smart appliances connected with Internet of Things (IoT) technology. The company is slowly moving ahead to introduce its appliances equipped with features such as LG HomeChat and SmartThinQ with which users can operate home appliances with a smartphone connected through the internet.
Clearly, home automation is a lucrative segment for major players and has potential to drive growth for the industry.
- Cybercrime To Worsen; More Sleepless Nights For CISOs
- How Is AI Transforming the Digital Payments Landscape
- Digital Engineering Spend To Grow 124 pc By 2022
- Embracing Technology For HR Innovation
- Why Financial Sector CIOs Should Get On Top Of Machine Learning
- Smart Cars Can Be The Next Big Thing For Indian IT Firms, Says Study
- Using RPA For Greater Accuracy, Efficiency In Business
- Wipro Teams Up With Cisco To Unveil Internet of Lighting Solutions
- Why The Future of V2X Technology Is Promising
- AI, Machine Learning Are Top CIO Priorities: Experts