Indian smart home market grows 107% in Q2 2018: IDC

Indian smart home market grows 107% in Q2 2018: IDC
The Indian smart home market saw a healthy year-on-year growth of 107% in the second quarter this year with 1.4 million device shipped, according to a recent report by research firm IDC.
 
Connected devices at home include smart lightings, thermostats, smart TVs, security cameras and smart speakers. The Indian smart home market, meanwhile, is mostly driven by entertainment purposes.
 
Devices like smart TVs, streaming TV sticks and set-top boxes grew 81% year over year and captured 85% share in total smart home products shipped.
 
Xiaomi, which introduced its smart TV product in the market in the first quarter of 2018, has tripled its shipments in the second quarter and become the market leader. Amazon, on the other hand, leads the streaming TV stick product category with around 80% market share.
 
“The Indian video entertainment market is seeing an upgrade to connected media devices and larger screen viewing experience. To drive the growth, companies are upgrading their product portfolios with smart SKUs, relooking at the pricing, and adding new channels to sell their devices,” says Jaipal Singh, associate research manager at IDC India, in a statement.
 
Content providers such as Netflix, Amazon, Hotstar and Sony Liv are aggressively investing in India in order to lure customers away from traditional TV service providers for new streaming entertainment. For instance, they have partnered with telecommunication companies and broadband providers to offer bundled subscriptions.
 
Smart speakers, smart home hubs which have been introduced in the Indian market for three quarters, also had a 43% sequential growth in the second quarter of 2018. Amazon led the market with the Echo product line with a 59% market share, and Google followed as the runner-up.

“Although, the initial usage of smart speakers are currently limited to few use cases, as the smart homes market is at a very nascent state in India, we are seeing signs of it growing beyond entertainment,” says Navkendar Singh, associate research manager at IDC India.


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