‘Owing to Its Unique and Intelligent Application, the Demand for IoT Appliances in India is Growing’
In terms of modernization in electricals, India has witnessed a good growth. However, compared with the developed nations, India still has a long way to go. Still, with a rise in awareness, an urban demand for modern electrical systems is on a steady rise, case in point, home automation systems or Internet of Things (IoT).
In June, a Zinnov study revealed that by the end of 2019, India stood at 200-250 million connected devices. It estimated that IoT investments in India are expected to triple going up to US$ 15 billion across both technology products and services components.
To find out about how the IoT market is growing, The Tech Panda spoke to Bishan Jain, Director at Goldmedal Electricals, a leading consumer electrical company that caters to multiple segments including home automation systems.
With rising concerns about safety and security coupled with improved lifestyle needs, better Internet connectivity, and boost in disposable income, there is bound to be an upsurge in the demand for smart electrical solutions, driving modernization even further
The good news, says Jain, is that people are now aware of these developments due to the Internet and there is demand for such products, especially in urban areas.
“People are always looking for something new every time they go out to buy electrical products—be it smart gadgets like smartphones or smart home products like home assistants. With rising concerns about safety and security coupled with improved lifestyle needs, better Internet connectivity, and boost in disposable income, there is bound to be an upsurge in the demand for smart electrical solutions, driving modernization even further,” he says.
He adds that the future is exciting with technological advancement in this segment.
“Owing to its unique and intelligent application, the demand for IoT appliances in India is growing.”
Goldmedal has achieved significant growth and recognition as an innovative, quality-conscious brand at a pan-India level. Some of their achievements include the launch of the Curve and Nixon modular systems, the introduction of RF-based home automation systems, manufacturing innovative modular accessories, and the introduction of a complete range of LED lights.
Goldmedal Electricals was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. Starting from a small manufacturing unit in Mumbai, the company today manufactures a vast range of electrical products, including modular switches and accessories, home automation systems, luminaries and LED lights, wires and cables, doorbells, PVC pipes, DBs, MCBs, and others.
The 1400 crore plus company has a nation-wide presence with over 20,000 direct and indirect dealers across the country. Along with retailing through stores and directly to large institutional buyers, Goldmedal products are also available at many leading Indian consumer malls including Croma, Reliance Fresh, and Hypercity.
The company has also invested in exclusive showrooms in many cities to showcase its range of premium products directly to its clientele, including interior designers, architects, and builders, along with upper and upper middle-class customers.
The company is a keen follower of the Government of India’s ‘Make in India’ initiative. It has set up state-of-the-art manufacturing units in Vasai, Vijaywada, and Bhiwadi to develop and manufacture their products in India.
Goldmedal Electricals’ Home Automation Systems
With an eye on innovation, Goldmedal has ventured into the home automation segment more than a decade ago.
“The goal has been to offer the most advanced technology in a manner that is usable in Indian conditions so that customers can easily upgrade to a secure and intelligent lifestyle,” says Jain.
The goal has been to offer the most advanced technology in a manner that is usable in Indian conditions so that customers can easily upgrade to a secure and intelligent lifestyle
One of the key features of their home automation technology is that it does not require any change in wiring while installing. The products can be easily retrofitted in the existing wiring system. Their automation range offers features like voice-activated operations, smart-device enabled operations, remote switching and scheduling, and low maintenance cost, among others.
The Indian IoT Consumer
In India, metro and city-based people live fast paced lives, where routine tasks can be fully automated while following the proper schedule. Jain informs that the demand for home automation is mostly in these metro cities, especially the emerging urban tech savvy middle class living in metro cities. The benefits include safety, convenience, remote accessibility, and energy saving, which has led to its rising popularity.
These technophile consumers are looking for smart, connected and energy-efficient solutions that will add value to their lifestyle with minimum human intervention
“These technophile consumers are looking for smart, connected and energy-efficient solutions that will add value to their lifestyle with minimum human intervention. More recently, senior citizens in cities have also shown keen interest in adopting home automation systems to empower themselves,” says Jain.
Automation in Indian Offices Post Covid
In the wake of the pandemic and the fear of infection, most offices have adopted touch-free solutions to the maximum to counter the COVID-19 pandemic. This includes contact-free biometrics for entry, voice-activated and hands-free activation of switches and lighting systems, etc.
Jain says going ahead, Goldmedal foresees these technologies to become a part of a consumer’s daily life as people realize the huge convenience these systems offer.
Once IoT becomes fully operational, things will get much more seamless in their operations
“For example, it’s so much easier to install a presence detector in restrooms and corridors that will automatically switch on or off lights, depending on the presence of people than having the lights permanently on, irrespective of people being there. This is also an environment-friendly and an efficient option,” he says.
“Similarly, automated, voice-activated, or scheduling of electrical systems ensure lesser disruptions to work and cost-savings due to the energy saved. There are many other developments that are happening in this space. Once IoT becomes fully operational, things will get much more seamless in their operations,” he adds.
With the Covid-19 outbreak, work from home has become the new normal and it calls for smarter technology and solutions that ensure improved productivity and efficiency. Goldmedal is planning to expand their range to include smart thermostat as well as smart door locks.
“The demand for automation systems is higher than ever and as a brand we strive to use innovation to meet the needs of our consumers,” Jain says.