Smart homes have taken the real estate industry by storm, emerging as a critical element influencing property values and buyer preferences. Driven largely by demand from tech-savvy Gen Z and millennial homebuyers, what was once a luxury has now become a strategic investment, significantly enhancing both the appeal and market value of homes. In India, the smart home revolution has transformed traditional living spaces with cutting-edge technology, promising greater convenience and efficiency.
The dream of a futuristic home is becoming a reality as automated lighting, sophisticated security systems, and smart appliances become more prevalent. With the rapid adoption of smart technology, it is essential to evaluate its impact, address potential challenges, and consider its future trajectory. According to a recent industry report, smart home devices in India have seen a significant growth, reaching 8–10% as of 2023.
The report estimates the smart home market at approximately ₹90,000 crore in 2023, with expectations for it to expand to ₹1,40,000 crore by 2028. In particular, security devices are anticipated to experience rapid growth, with around a 14% market share in the next four years. Latest in tech Several cutting-edge smart home technologies are poised to redefine home automation.
These innovations not only enhance the functionality of homes but also play a crucial role in boosting property values. Property developers are going the extra mile to bring A-class home auto.