According to International Data Corporation (IDC) report, Amazon Echo speakers are leading the smart speaker market with 59 per cent market share in India. Google smart speaker is at the second number in the market. Smart device maker firms have made smart devices one of the essential household items.
Indian smart home devices market consists of connected lights, smart speakers, connected thermostats, smart TVs, home monitoring/security products, digital media adapters, amongst other connected devices for homes. The market witnessed a year over year growth of 107% to reach at 1.4 million shipments in 2018 Q2.
According to Navkendar Singh, Associate Research Director, IDC India, the smart homes market is at a very initial stage in India, and there are signs of it to grow beyond entertainment.
Besides, the Indian video entertainment market is also witnessing an upgrade to connected media devices and larger screen viewing experience. It grew 81% year over year.
The report also includes that Xiaomi leads the smart TV market whereas Amazon is also a leader in the streaming stick category, with almost 80 per cent streaming devices sold in India.
The smart home devices global market is expected to grow 31 per cent year over year in 2018 to 643.9 million shipments.
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