Growing concerns regarding home security, safety and convenience among residents is increasing the demand for smart home systems. Household theft and burglary has remained an ongoing concern for individuals across countries. The Crime Severity Index (CSI) and crime rate in Canada increased for the fourth consecutive year in 2018. National Crime Bureau Ministry of Home Affairs, India recorded 292,176 cases of property crimes within the residential premises in 2019. Similarly, Crime Statistics Agency recorded 299,994 victim reports across the State of Victoria in Australia during the period of 2017-2018, wherein 78% of the victims were accused of offences related to property crime including burglary, theft and break and enter amongst others. Hence, the rising number of crimes and thefts are encouraging individuals to invest towards deployment of smart home systems that are adequately equipped to prevent occurrence of such uncertain events, thereby influencing the growth of India, Australia and Canada smart home systems market. In order to most efficiently cater to this requirement, companies have developed security and access control systems as one of the major application of their smart home system product offering. For instance, in September 2020, Honeywell Inc., launched Pro-Watch Integrated Security Suite, a software platform, designed to help protect people and property. The platform provides complete visibility of all connected systems, thereby enabling efficient monitoring of the premises.
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Smart home systems market players are establishing strategic partnership to develop systems which offer easier access and compatibility to the customers. For instance, in 2019, Amazon, Apple, Google, and the Zigbee Alliance, announced a collaboration to develop and promote royalty-free connectivity standard to increase compatibility among smart home products, with security as a fundamental design parameter. Companies are introducing new and improved features and upgrades to their existing products in response to the technological advancements and to promote lower energy usage. For instance, Siemens AG, included new functionalities to their Synco IC cloud platform for remote HVAC (heating, ventilation and air conditioning) control. The added features included remote meter reading for energy billing, remote monitoring of energy key performance indicators (KPIs) and remote intervention to reduce energy consumption.
Rising preference of millennials towards the adoption of innovative solutions coupled with increasing disposable incomes across various countries is driving the growth of India, Australia and Canada smart home systems market. For instance, in 2019, Amazon.com, Inc., launched a new range of Echo devices, which included Echo, Echo Flex, Echo Dot with clock, Echo Show 8, Echo Studio and Echo buds offering smart home experience to the users. The Echo Studio has a built in Zigbee smart home hub, which comprises of features such as speakers made using immersive sound and room adaptation technology. Moreover, it allows the users with smart home control features and is also compatible with other smart home devices.
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Rapid penetration of smartphones along with increase in smart gadgets users preferring technology backed automated systems for their homes is propelling the growth of India, Australia and Canada smart home systems market. Market players are expanding their product portfolio for smart home systems in order to provide the customers with improved products and solutions for home automation. For instance, Eero, which is a whole home WiFi system company, now a part of Amazon, launched eero Pro 6, mesh WiFi systems that offers internet connections along with a built in smart home hub, that is connected to the smart home devices and allows seamless operation of all compatible smart home system devices.
The Covid-19 outbreak has positively impacted the smart home systems market. In order to refrain from contacting commonly touched areas, individuals are increasingly focusing on implementing smart technology solutions and devices across their home. Smart home voice controlled devices are anticipated to witness substantial growth rate in the India, Australia and Canada smart home systems market over the coming years. For instance, Surmount Energy Solutions Pvt. Ltd’s BuildTrack Home Automation solutions is equipped with voice control functionalities, which allows the users to operate multiple smart devices using voice commands through Google Home and Amazon Alexa. Further advancement in technologies concerning safety for smart homes is anticipated to influence the growth of smart home systems market over the forecast period.
The detailed research study provides qualitative and quantitative analysis of India, Australia and Canada smart home systems market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across all the major regions. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major regions across India, Australia and Canada.
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India, Australia and Canada Smart Home Systems Market
- By System
- Lighting Control
- Occupancy Sensors
- Timers
- Dimmers
- Switches
- Others
- Security and Access Control
- Video Surveillance Systems
- Access Control Systems
- Biometric Access Control
- Non-Biometric Access Control
- HVAC Control
- Smart Thermostats
- Heating and Cooling Coils
- Dampers
- Smart Fans
- Smart Vents
- Others
- Entertainment and Other Controls
- Entertainment Control Products
- Home Theater System Controls
- Others
- Home Appliances
- Smart Refrigerators
- Smart Washers
- Smart TV
- Others
- Others
- Lighting Control
- By Country
- India
- Australia
- Canada
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