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Home Featured

Per household spend in India’s gated communities to reach $20,000 by 2026, second only to the U.S.: Redseer

by Editorial
November 10, 2021
in Featured, Market Analysis
Reading Time: 2 mins read
Indian shortform apps have a monetization opportunity of $19Bn by 2030: Redseer
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Bengaluru: Although comprising just 32% of the population in India’s top-50 cities, gated communities account for 45% of overall spending, as per the latest report by homegrown internet-focused consulting firm RedSeer.

The report reveals that the role of gated communities in India’s consumption story will go from significant to critical in just five years. This is because such communities are projected to host 24 million households by 2026, a 50% increase over the current 16 million households.

The rise in these households will be complemented by an increase in annual spending, up from the present $13,000-14,000 to $19,000-20,000 in a five-year span.

In effect, the annual spends of households in India’s gated communities will mirror those of identical households in the UK and Germany, second only to the U.S. ($25,000 a year).

Other key highlights from the RedSeer report:

-Total consumption in Indian gated communities will increase by 2.5x in five years, reaching $500 billion.

-Number of households in these communities will double from 16 million to 32 million by 2031.

-Consumption via digital channels currently accounts for 15-20% of spending in gated households.

-The growing need for security solutions and quick digital adoption are leading to increased use of gate management platforms and apps.

– Security management app MyGate currently holds up to 82% market share in this space, followed by NoBrokerHood (13-15%) and others (3-7%).

Only 25% of the 16 million homes in gated communities are estimated to have gate management solutions. Considering the socio-economic homogeneity of this segment—education, profession, disposable income, spend patterns, and pronounced need for security solutions—Indian gate management platforms have the potential to capture a total addressable market worth $35-40 billion. Given that this segment is also at the forefront of digital adoption and a hotspot for concentrated consumption, it is economically viable for gate management platforms to reap the untapped potential in such communities.

The need for streamlined visitor management, coupled with innovations in wireless technology and IoT, has heightened the need for gate management platforms. Such gate management solutions are playing a much bigger role in communities, through brand engagement, social and hyperlocal commerce, and real estate partnerships.

Ujjwal Chaudhry
Ujjwal Chaudhry

“The significance of gated communities in India’s consumption story cannot be overstated. Few customer segments in the country are projected to have such high growth in overall spending over the next five years. Our research also shows that as many as 95% of these households across the top-50 cities shop online.” said Ujjwal Chaudhry, Partner at RedSeer Consulting.

Tags: RedSeerUjjwal Chaudhry

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