One of the most important things a human strives for in his entire life is living in a good place. We spend our whole lives making our living standards better which in the end majorly depends upon where we live.
So it only makes sense why everyone around the globe is getting attracted towards the new home technologies and equipment to make their lives easier and their homes smarter.
How “Smart homes” differ from “Normal homes”?
Smart homes are basically normal homes filled with devices all of which are connected to some network (e.g. Local Wi-Fi ) and therefore can be handled and controlled by some swipes and touches on your smartphones.
Everyone is shifting/converting from their homes to ‘Smart homes’. Indians are no exception. In fact, many surveys and intelligently built statistical models prove that the Indian public seems to be a very potential customer for Smart homes and related products in the coming years.
When we look at the smart home technology of the future, cross-platform ecosystems will evolve to provide complex decision-making solutions with increased data-processing capabilities.
Smart home and its advantages:
Smart home technology in the future will see a convergence between hardware and software. It will not only control the day-to-day usage of your home, but will also enable homeowners to be smarter in all their decisions. For instance, decisions related to managing, maintaining, and improving the home.
Smart-home technologies are here to stay, and their focus will continue to be convenient and efficient. With time smart homes will become an integral part of the lifestyle and that’s when more consumers will adopt home automation.
Smart home profit:
Everyone is trying to shift to wireless and it turns out that the Indians are more interested in it than anyone else. Some models suggest that the Indian smart home market is expected to surpass more than the US $9 Billion markets by 2025 due to the current trend.
The major reason for people shifting to this new technology is consumer convenience, safety, security, and efficient energy consumption. Studies suggest that the aged population of India is expected to increase from 8% to 20% by 2050. This particular demographic trend is going to affect many aspects of Indian social and economic structure.
This along with the fact that the Indian population is rapidly shifting to urban areas from rural areas; acts as a base of the expected exponential increase in demand for smart home devices in India. The cherry on top of all this; will be the availability of services and devices at a cheaper and affordable rate.
Growth of Smart Home in India
The ‘Make in India’ campaign is already doing wonders making our economy stronger. So, it comes as no doubt that the trend of large-scale production of smart home devices will be witnessed by India. The market is rapidly adapting to digitization as a result of the large internet user base in India.
Companies like Samsung believe that investing in India for smart home technology will be beneficial for them in the long run. Samsung strongly feels that there is a lot of potential for IoT oriented products in India. Integrating Bixby (Samsung’s virtual assistant) into even more devices, and exploring new ways to make more objects intelligent; will allow more households to experience the benefits of a seamlessly connected IoT ecosystem.
IoT interactions will be natural, and our smart devices will be so seamlessly woven into the fabric of our lives.
Although India is a price-sensitive market; the consumer set today, is more interested in the unique and differentiated experience that is not restricted particularly to the cost factor. People are always looking at upgrading their home devices and buying premium category products.
We can only wait until we finally reach that stage and witness it ourselves.