Smart Remotes - Malta | Statista Market Forecast

Malta's Smart Remotes market is projected to generate a revenue of US$6.6k in 2024.
With an estimated annual growth rate of 5.61% (CAGR 2024-2029), the market is expected to expand steadily.
When compared to other countries worldwide, United States leads the pack with a revenue of US$82.1m in 2024.
This demonstrates the significant market potential in the Smart Remotes market industry.
In terms of per capita revenue, in Malta is expected to generate US$0.01 per person in 2024.
This metric provides insight into the average revenue generated by each individual in the country's Smart Remotes market.
Looking ahead to 2029, the volume of the Smart Remotes market in Malta is projected to reach 251.1pieces.
This indicates the expected growth in the overall size of the market.
In 2025.0, the market is anticipated to witness a volume growth of 10.4%.
This demonstrates the year-on-year increase in the quantity of Smart Remotes market sold.
On an individual level, the average volume per person in Malta's Smart Remotes market is estimated to be 0.0pieces in 2024.
This metric highlights the average number of Smart Remotes market owned by each person in the country.
With its high smartphone penetration and tech-savvy population, Malta is experiencing a rising demand for smart remotes to control various devices in homes and offices.

Definition:

Smart remotes are devices that are used to control multiple devices such as TV, soundbar, Blu-ray player, and gaming console through a single interface. Products in this category include traditional remotes with added smart functionality such as voice control, mobile app integration, and the ability to control smart home devices. The technology behind smart remotes involves a combination of infrared and radio frequency (RF) signals, as well as Wi-Fi and Bluetooth connectivity. Some of the latest smart remotes also incorporate advanced features such as gesture control, and artificial intelligence (AI) to provide an intuitive and seamless user experience.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Logitech, Samsung, Philips, and LG. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Voice-controlled remotes with physical buttons

Smart remotes with a display or touchscreen

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.