Smart Home - India

  • India
  • Revenue in the Smart Home market is projected to reach €6.0bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.40%, resulting in a projected market volume of €8.6bn by 2028.
  • Household penetration will be 10.7% in 2024 and is expected to hit 22.0% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €166.70.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
Comparación de regiones

Analyst Opinion

The Smart Home market in India has been experiencing significant growth and development in recent years.

Customer preferences:
Indian consumers are increasingly seeking convenience, efficiency, and connectivity in their daily lives, driving the demand for smart home devices. The desire for enhanced security, energy savings, and remote monitoring capabilities are key factors influencing customer preferences in the Smart Home market.

Trends in the market:
One prominent trend in the Indian Smart Home market is the growing adoption of voice-controlled devices and smart speakers. As more households embrace smart assistants and voice recognition technology, the demand for interconnected smart home ecosystems is on the rise. Additionally, the integration of Internet of Things (IoT) technology and artificial intelligence in home devices is shaping the market landscape in India.

Local special circumstances:
India's diverse cultural landscape and varying economic conditions across different regions play a significant role in shaping the Smart Home market. Urban areas with higher disposable incomes are driving the demand for premium smart home solutions, while rural regions are gradually warming up to the idea of home automation. Moreover, the availability of affordable smart home products tailored to the Indian market is a key factor influencing adoption rates in the country.

Underlying macroeconomic factors:
The rapid digitization of the Indian economy, coupled with the government's focus on promoting smart cities and sustainable living, is creating a conducive environment for the growth of the Smart Home market. As the middle-class population expands and technology becomes more accessible, the market is poised for further expansion in the coming years. Additionally, partnerships between technology companies and local manufacturers are driving innovation and affordability in the smart home segment.


Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

Visión general

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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