Consumers are seeing technology increasingly becoming a big portion of their lives, including how they live. And, the new-age homebuyer is not looking at just a shelter over his head, but a home that integrates technology.
Consumers are seeing technology increasingly becoming a big portion of their lives, including how they live. And, the new-age homebuyer is not looking at just a shelter over his head, but a home that integrates technology. In India, as per a Research and Markets report, the home automation market is expected to cross Rs 30,000 crore by 2022.
The report finds that Delhi-NCR, Mumbai, Pune, Ahmedabad and Bengaluru account for a combined market share of over 50% currently. With products by legacy brands, local players, international brands and start-ups to choose from, home automation is seeing increasing adoption in the upwardly mobile, technologically savvy and experiment-pro consumer segment.
Current homeowners are not looking at an overhaul. They are looking at automation in parts, choosing to automate just one room in the house or say, having just lighting automated. Schneider Electric India, with its current range of home automation products, sees uptake among the uber-luxury category that includes homes of movie stars, sport stars, business tycoons and the like. That isn’t to say that automation is absolutely unaffordable.
Shrinivas Chebbi, president, partner, eco buildings business, Schneider Electric-India, shares that residents of tier II and III cities are using smart solutions to enhance their independent houses. “If you want to convert a 2,000 sq ft bungalow with basic smart centres, it won’t cost more than Rs 2 lakh at the most,” he says.
Xiaomi India (the most recent brand entering the home automation space) launched Mi TVs (smart TVs) earlier this year with models priced in a range of Rs 13,999-Rs 49,999. Some of the other smart products in India include the Mi Body Composition Scale priced at Rs 1,999; Mi Air Purifier 2 (Rs 8,999) and Mi Router 3C (Rs 999). The brand allows customers to discover its smart products at the Mi Home Experience stores in Delhi, Mumbai and Chennai.
Gerard Tan, senior director — APAC, GfK, points out that the ecosystem products operate in needs to be given more attention. Today’s consumers use myriad products from different brands that may or may not ‘speak’ to each other, which may pose challenges, he opines.